Proverbs 21:20

There is treasure to be desired and oil in the dwelling of the wise;

but a foolish man spendeth it up.

Why are wise men rich and fools poor? Do you want to get ahead financially? Then read
and believe this simple proverb. Fools spend money as fast as they get it, but wise men
are disciplined and slow about spending and always save some of their income.

Your spending habits are very important for your financial success. How much you make
is not as important, because you can waste a high income as easily as you can waste a
low income. In fact, a high income allows you to waste your money on big-ticket items.

It is not the high cost of living, but the cost of high living, that ruins men (21:17). Wise
men have foresight and self-discipline to avoid bad habits and impulse buying and to save
some of their income. They make saving a pleasure, and they are reluctant to spend.

There are two kinds of financial losers – lazy men who will not work hard and earn a
living, and hard workers who waste what they do earn (18:9). Once in a while there is a
great fool that has both problems – he dislikes hard work, and he wastes his money.

What is the best way to limit spending wisely? Simple! First, pay God a minimum of
10% off the top – this is firstfruits giving (3:9-10). Second, pay yourself at least 10% into
savings – this is following the ant (6:6-8; 30:25). Third, live reasonably and pay all your
bills next. You are then free to spend whatever is left in any way you wish! You are
headed for financial success, and you did not use a budget or accounting program!

Credit cards allow you to spend money you do not have … leaving you worse than this
proverb’s fool. They foster impulse buying without paying, but which later bites you
financially. Living sacrificially now means living better later – because savers earn
interest and spenders pay interest, and savers are also liquid for investment opportunities.

It is a shame the U.S. government spends without regard to income. It spent more than it
took in for 40 of the last 42 years. Following its example, most U.S. companies and
citizens do the same. Corporate and individual debt reflects the government’s policies and
deficits, which leaves America a debtor nation of spendthrifts from top to bottom.

Instead of having money at the end of the week, most have too much week at the end of
the money. And the same occurs at the end of life. What about you? A wise man will
make giving and saving a habit and delight, for he knows that saving is a commandment,
not just a suggestion (6:6-8; 12:27; 13:22; 30:25).