If there is one thing we learn quickly in life, it’s that it’s unpredictable. In a season of your life, you can have good income, health, and relationships, and in a moment, that can change.
This is why one of the first pieces of advice you’d receive from financial experts is to have an emergency fund. They usually recommend saving at least 3-6 months of expenses, which often covers common life emergencies.
And while not explicitly called an emergency fund, there are examples in the Bible of how having such a reserve makes a difference.
The first one that comes to mind is the story of Joseph. With the knowledge that there would be 7 years of prosperity followed by 7 years of famine, Joseph stored some of the grain during the years of prosperity for the time of famine.
Then there is the parable of the wise and foolish virgins. The wise virgins brought extra oil, and because they had it, they were still prepared when the bridegroom was delayed.
The Bible makes it clear that having an emergency fund is wise. Proverbs 21:20 states plainly, “The wise store up choice food and olive oil, but fools gulp theirs down” (NIV).
However, it’s important to note that there is a difference between having an emergency fund and hoarding resources.
As the parable of the rich fool illustrates, hoarding is motivated by greed, whereas building an emergency fund is motivated by prudence.
The Wise Believer makes an effort to have an emergency fund, but understands that with or without one, trust should be placed in God to provide.
