What Does the Bible Say About Having an Emergency Fund?

Within the bible, the story of Joseph is extremely inspiring. The man obtained the love of his father by having great character. The outcome was a band of jealous brothers, who sold him into slavery.

He became a very prosperous slave through utilizing a great work ethic and strong morals. The outcome was a seductive woman falsely accusing him of sexual misconduct, in turn, leading to a life of imprisonment.

He became an interpreter of dreams to the pharoah, by utilizing his wisdom to interpret dreams. The interpretation of pharoah's dream was that there would be seven years of prosperity followed by seven years of famine. His advice was to store 20% of the harvest each year to prepare for the future.

How many people do you know who once had a business running with years and years of prosperity only to hit a rough patch? How many people hit financial distruction through either divorce, death, disease or disaster? How likely is it that an emergency will occur within the next ten years?

Would an emergency fund, funding by paying yourself first 20% of your income be beneficial?

Any corrections to the story or insights are welcome! What was your interpretation of this parable? How are you prepared?

This post was reposted from http://finlit.biz/retirement-2/what-does-the-bible-say-about-having-an-emergency-fund/, originally written on June 23rd, 2013.

From Hannah

“a seductive woman falsely accusing him of sexual misconduct…”

I can’t speak to the rest of the parable, as a non-Christian, but I can tell you as a woman that parable or not, women are too frequently blamed for “sexual misconduct.” Unfairness abounds (in all directions) — we can only seek to live the best lives possible.