In Romans 15:4 we are told that whatever has been written in earlier times is for our instruction and to give us hope.
This applies to the recorded experiences of Joseph when he was asked to interpret Pharaoh’s dream in Genesis 41. God showed Pharaoh that there would be seven years of plenty followed by seven years of famine. This can be applied to the economic cycles that we all face in today’s marketplace. There are times of prosperity and times of economic difficulties.
Joseph’s advice to Pharaoh is applicable to us today. During the good times as much as a fifth of the crops were to be put into storage. This reserve would keep the people from perishing during the severe famine that was to come.
We too must be disciplined and determined to put aside some of God’s money into our Emergency Fund. This may be how He intends to meet our needs when our famine comes.
The famine that comes into our lives can take many forms. Our job situation may change due to job loss, plant closings, competitive actions, market cycles, or international turmoil. Family issues, medical bills, sudden large expenses for repairs are other legitimate emergencies that can not be budgeted.
It takes character to say no to spending for current pleasure. You need to be content with less disposable income until your Emergency Fund is in place.
Will you commit to building and maintaining a reserve as the people in Joseph’s time did? Their results should motivate us to do likewise.
If you are married, the decision to build and maintain a reserve must be agreed to by both partners. A house divided will not succeed.