Which is more important, my short-term savings or my long-term savings?

How much should I have in my short-term savings in this financial climate?

In this short video, Ron discusses the importance of building up a cash reserve savings account. He talks about how much you should have in short-term savings and the magic of compounding interest for your long-term savings. Ron explains how a financially mature plan of growing your savings accounts will help to buffer your emotions in distressing financial times.

As always, Ron’s encouragement to you is to go back to God’s word to restore your faith. Take a moment to consider the following scriptures and meditate on their truth and their application.

Taken together, the following verses exhort the believer to have patience and to exercise wise self-control. Interestingly, scripture does not tell us to have patience for its own sake or self-control for its own sake. Instead, we are encouraged to fix our hearts on the hope of eternity and on the power of God as we move in the direction of patience, wisdom, and self-control. We wait, we pursue discipline, and we seek wisdom because we believe that the glory of eternity and the spiritual reality of life are far more worth pursuing than what we can see and feel and touch in the present.

Psalm 27:14 (NIV)
Wait for the Lord; be strong and take heart and wait for the Lord. -

Psalm 37:4 (NIV)
Delight yourself in the Lord, and He will give you the desires of your heart. -

Proverbs 14:29 (NIV)
A patient man has great understanding.

Proverbs 19:11 (NIV)
A man's wisdom gives him patience.

James 5:7  (NIV)
Be patient, then, brothers, until the Lord's coming. See how the farmer waits for the land to yield its valuable crop and how patient he is for the autumn and spring rains.

Titus 2:12  (NIV)
Live self-controlled, upright and godly lives in this present age, while we wait for the blessed hope--the glorious appearing of our great God and Savior, Jesus Christ.