Folasade was eleven years old when the fire went through the market at Oyingbo. Her father’s shop, with all his stock of building materials, burnt to the ground in a single night. He had no insurance and no savings. Within a year the family had moved from a three-bedroom flat to a single room in a face-me-I-face-you compound. She remembered going to school with her stomach rumbling. She remembered her mother selling her gold earrings one by one. She remembered her father sitting on the bench outside the room, night after night, saying nothing at all.
She made herself a promise in that room. This will never happen to me.
Twenty-seven years later, Folasade ran a busy tailoring shop in Surulere with three apprentices and a long list of customers. And she kept her promise with a kind of fierceness. Every working day she paid two thousand naira into an ajo run by Mrs Edet, an older woman from her church who went round the shops with a contribution card and a small notebook. She had two bank accounts that she never touched. And behind the wardrobe in her bedroom, in a gap where the plaster had come away from the wall, she kept a large Milo tin stuffed with cash. Nobody knew about the tin, not even her husband.
She did not spend. Her industrial sewing machine broke down every few weeks and slowed the whole shop, but she would not replace it. She wore the same two pairs of shoes until the soles were thin. When one of her apprentices lost her mother and asked for help with the burial, Folasade said she had nothing to spare. When Nkiru, the twelve-year-old girl next door, needed surgery for an injured leg and her parents went from house to house in the compound asking for help, Folasade shut her door and told her husband they could not afford it.
Then came the rainy season. Water found its way through a crack in the outside wall and into the gap behind the wardrobe. When Folasade finally pulled the tin out, the notes at the bottom were black with mould and stuck together. Some came apart in her hands. And as she sat on the floor counting what was left, another thought struck her. Most of that money had gone into the tin six years earlier. What it would have bought then, it could not buy now. The rising prices had eaten it as surely as the water had.
PunchlineShe sat there for a long time, holding a fistful of ruined notes, and for the first time in years she cried.
Go to the ant
Let us begin by saying clearly that Folasade’s instinct to save was not wrong. Scripture commends preparation. In one of its most memorable images, Proverbs sends the lazy man to school with a tiny teacher:
Go to the ant, thou sluggard; consider her ways, and be wise: Which having no guide, overseer, or ruler, Provideth her meat in the summer, and gathereth her food in the harvest.
“Go to the ant, thou sluggard; consider her ways, and be wise.” The sluggard is the person who will not work and will not plan. Proverbs tells him to lie down in the grass and watch. The ant has “no guide, overseer, or ruler.” Nobody stands over her with a whip. Yet she “provideth her meat in the summer, and gathereth her food in the harvest.”
Notice what the ant teaches. She works in the season of plenty with the season of scarcity in view. Summer is when food is abundant, and it would be easy to eat it all. But the ant gathers and stores, because winter is coming. Another proverb makes the same observation: “The ants are a people not strong, yet they prepare their meat in the summer” (Proverbs 30:25). They are small and weak, but they are wise, and their wisdom is foresight.
This is a word for every believer in an economy like ours. There are seasons when money comes in more freely: a good month in business, a bonus, a contract paid, the festive rush at the shop. The wise person does not spend all of it. She sets something aside for the months when sales are slow, when the car breaks down, when a child falls sick, when rent is due.
Proverbs says it plainly elsewhere:
There is treasure to be desired and oil in the dwelling of the wise; but a foolish man spendeth it up.
The wise person’s house has reserves in it: treasure and oil, stores that can be drawn on when needed. The foolish person “spendeth it up.” Whatever comes in goes straight out again. There is nothing spiritual about living with no reserves. Saving is a form of wisdom, and it honours God.
Joseph’s storehouses
The most remarkable example of saving in the Bible is found in the story of Joseph. Pharaoh had dreamed of seven fat cows eaten by seven thin ones, and seven full ears of grain swallowed by seven withered ones. Joseph, brought from prison to interpret, told him that God was revealing seven years of abundance followed by seven years of famine. Then he gave Pharaoh advice:
Now therefore let Pharaoh look out a man discreet and wise, and set him over the land of Egypt. Let Pharaoh do this , and let him appoint officers over the land, and take up the fifth part of the land of Egypt in the seven plenteous years. And let them gather all the food of those good years that come, and lay up corn under the hand of Pharaoh, and let them keep food in the cities. And that food shall be for store to the land against the seven years of famine, which shall be in the land of Egypt; that the land perish not through the famine.
Joseph’s plan was simple. In the good years, set aside a fifth of the harvest. Store it carefully in the cities. Manage it with discretion and wisdom. And when the famine comes, there will be bread.
That is exactly what happened. When the dearth came, “in all the land of Egypt there was bread” (Genesis 41:54). And then Scripture adds something that turns this story from a lesson in prudence into a lesson in purpose: “And all countries came into Egypt to Joseph for to buy corn; because that the famine was so sore in all lands” (Genesis 41:57). The storehouses of Egypt fed the world. Among those who came were Joseph’s own brothers, the men who had sold him into slavery. The grain he had saved became the means of saving his family and of preserving the line through which God would bring the Messiah. Joseph himself later told them, “God sent me before you to preserve you a posterity in the earth, and to save your lives by a great deliverance” (Genesis 45:7).
Joseph’s savings had a purpose beyond a growing balance. He stored grain so that people would live. The storehouse was not a hiding place for his own security. It was a provision for others.
NuggetSavings have a purpose beyond a growing balance. The question to ask of every reserve is not only how much is there, but whom it is being prepared to serve.
The man whose barns were too small
Jesus told a parable about another man with a full harvest. A man had asked Jesus to make his brother share an inheritance, and Jesus responded with a warning: “Take heed, and beware of covetousness: for a man’s life consisteth not in the abundance of the things which he possesseth” (Luke 12:15). Then He described a rich farmer whose ground “brought forth plentifully” (Luke 12:16).
On the surface, this farmer looks like Joseph. He has a great harvest, and he decides to store it. “This will I do: I will pull down my barns, and build greater; and there will I bestow all my fruits and my goods” (Luke 12:18). What could be wrong with that?
Listen more closely. The farmer’s whole conversation is with himself. “He thought within himself, saying, What shall I do, because I have no room where to bestow my fruits?” (Luke 12:17). My fruits, my barns, my goods, my soul. Joseph stored grain for a nation. This man stored grain for himself, and only for himself. He had more than enough, and his only question was where to keep it. It never occurred to him that there might be hungry people within walking distance of his barns. He had, as some have put it, plenty of room to bestow his fruits: in the stomachs of the poor.
And his purpose was ease. “Soul, thou hast much goods laid up for many years; take thine ease, eat, drink, and be merry” (Luke 12:19). He was saving so that he would never have to depend on God or anyone else again. God’s verdict was swift: “Thou fool, this night thy soul shall be required of thee” (Luke 12:20). And Jesus’ conclusion is precise: “So is he that layeth up treasure for himself, and is not rich toward God” (Luke 12:21).
The problem was not the barns. Joseph built barns too. The problem was a reserve that shut the neighbour out and pushed God out of the picture. The Preacher saw the same thing:
There is a sore evil which I have seen under the sun, namely , riches kept for the owners thereof to their hurt. But those riches perish by evil travail: and he begetteth a son, and there is nothing in his hand. As he came forth of his mother’s womb, naked shall he return to go as he came, and shall take nothing of his labour, which he may carry away in his hand.
“Riches kept for the owners thereof to their hurt.” Hoarded wealth harms the one who hoards it. It can be lost “by evil travail,” through misfortune or bad decisions. And even if it is kept safely to the end, the owner goes out of the world exactly as he came in, with “nothing of his labour, which he may carry away in his hand.”
Folasade had not meant to be like the rich fool. She was not saving for ease. She was saving out of fear. But fear had done the same work that greed did in the parable. It had closed her hand and shut her door. Her reserve had become a wall between her and her neighbours.
Fear not, little flock
Immediately after the parable, Jesus turns to His disciples and speaks about anxiety:
And he said unto his disciples, Therefore I say unto you, Take no thought for your life, what ye shall eat; neither for the body, what ye shall put on. The life is more than meat, and the body is more than raiment. Consider the ravens: for they neither sow nor reap; which neither have storehouse nor barn; and God feedeth them: how much more are ye better than the fowls? And which of you with taking thought can add to his stature one cubit? If ye then be not able to do that thing which is least, why take ye thought for the rest?
The phrase “take no thought” can be misunderstood. Jesus is not telling us never to think about tomorrow. Joseph thought carefully about tomorrow, and the ant does too. The Greek word is merimnaō, which means to be anxious, to be pulled in different directions by worry. Jesus is forbidding the kind of anxious, fretful preoccupation that cannot rest, the fear that keeps checking the bank balance at two in the morning.
And He gives us reasons. “The life is more than meat, and the body is more than raiment.” Your life is bigger than your provisions. Then: “Consider the ravens: for they neither sow nor reap; which neither have storehouse nor barn; and God feedeth them.” Notice that Jesus does not condemn storehouses here. He simply points out that ravens have none, and God feeds them anyway. If He cares for birds with no reserves at all, He will certainly care for you. “How much more are ye better than the fowls?”
Then comes a gentle, almost humorous question: “Which of you with taking thought can add to his stature one cubit?” Worry achieves nothing. It cannot add a single hour to your life or a single naira to your account.
A few verses later, Jesus speaks some of the tenderest words in the Gospels: “Fear not, little flock; for it is your Father’s good pleasure to give you the kingdom” (Luke 12:32). This is the foundation for saving without fear. You prepare for tomorrow as a child of a Father who delights to provide. Your savings are a wise tool in His hands, but they are not your saviour. If the tin is ruined, if the bank fails, if the business burns, you are still His child, and He is still your Father.
That distinction makes all the difference. Two people can put exactly the same amount into the same account. One saves as an act of trust and wisdom, preparing for needs while resting in God’s care. The other saves as an act of fear, trying to build a wall high enough that God will never be needed. The first is the ant. The second is the rich fool, or the frightened child in the face-me-I-face-you room.
Treasure that does not fail
Then Jesus says something that seems at first to cut right across the wisdom of Proverbs:
Sell that ye have, and give alms; provide yourselves bags which wax not old, a treasure in the heavens that faileth not, where no thief approacheth, neither moth corrupteth. For where your treasure is, there will your heart be also.
“Sell that ye have, and give alms.” How do we hold this together with the ant and Joseph’s storehouses?
We need to read it in context. Jesus is speaking to a little flock of disciples who were following Him on the road, many of whom had literally left their homes and businesses. In that same spirit, the early church in Jerusalem responded to need by selling property and sharing with those in need (Acts 2:45, 4:34-35). Yet the New Testament never treats the selling of all possessions as a universal rule for every believer. Paul tells Timothy to instruct the rich to be generous, not to become poor. Peter told Ananias that his land had been his own to keep (Acts 5:4).
What Jesus is doing is reordering our treasure. “Provide yourselves bags which wax not old, a treasure in the heavens that faileth not.” Earthly savings wear out. Bags rot, notes grow mouldy, currencies lose their value. But what is given in love to those in need becomes treasure that cannot fail. And then the key sentence: “For where your treasure is, there will your heart be also.”
So Scripture holds the two together. Prepare for tomorrow, like the ant. Store in the good years, like Joseph. But do not let your reserves become the place where your heart lives. Let your saving be open-handed, ready to give, so that your real treasure is laid up where moth and mould cannot reach it.
Rich in good works
Paul gives Timothy instructions for wealthy believers that shed light on how saving and generosity fit together: “Charge them that are rich in this world, that they be not highminded, nor trust in uncertain riches, but in the living God, who giveth us richly all things to enjoy” (1 Timothy 6:17).
“Uncertain riches.” Every Nigerian who has lived through the last ten years understands that phrase. Currency values change overnight. Banks have collapsed. Investment platforms have vanished. Fuel prices double. Paul’s word for uncertain carries the sense of something that cannot be relied on, that could disappear without warning. Riches are real, but they are not a safe place to put your trust.
Then Paul tells them what to do with their wealth: “That they do good, that they be rich in good works, ready to distribute, willing to communicate” (1 Timothy 6:18). Ready to distribute. The wealth is held in readiness for giving. Willing to communicate, which in the King James English means willing to share. The reserves are not sealed in a tin. They are available.
And then a fascinating phrase: “Laying up in store for themselves a good foundation against the time to come, that they may lay hold on eternal life” (1 Timothy 6:19). Paul uses the very language of saving, laying up in store, to describe generosity. Giving is a form of storing up. The believer who shares generously is building a foundation for the future that no inflation can erode.
This keeps us from two errors. One error says that saving is unspiritual and that a true believer should never keep a reserve. Scripture does not teach that. The other error says that saving is purely a private matter, that my money in my account has nothing to do with my neighbour. Scripture does not teach that either. The question the Bible keeps asking is what the reserve is for.
Saving wisely in an unstable economy
What does wise saving look like in practice? Scripture does not give us a detailed financial plan, and this is not the place for specific investment advice. For that, speak to a qualified, licensed adviser you can trust. But some principles are clear.
Begin with a small emergency reserve. Many financial crises are made worse by having no buffer at all. A reserve that covers even one month of essential expenses, built slowly, can stop a burst tyre or a hospital visit from turning into a debt. Over time, try to build it toward three months or more.
Do not despise small amounts. Many people on modest incomes assume that saving is only for the rich. But the ant is small, and her stores are gathered one grain at a time. Setting aside even a few hundred naira a day, consistently, builds both a reserve and a habit. “For who hath despised the day of small things?” (Zechariah 4:10). God’s people have often found that faithfulness with little prepares them to handle more.
Save with specific purposes in mind. Rent in Lagos is often demanded a year or more in advance. School fees come every term. Equipment wears out. Name each purpose and save toward it. Folasade’s broken sewing machine was costing her more in lost work every month than a new one would have cost. Saving for the tools of your trade is wise stewardship.
Use the ajo and esusu wisely. Thrift and contribution groups have served Nigerian families for generations. They provide discipline, accountability and community. But they depend entirely on the honesty of the collector and the members. Join groups run by people with a proven record. Keep your own written record of every contribution. Be cautious when the group grows large and the members are strangers. Many people have lost money when a collector disappeared.
Keep money where it is reasonably safe. Cash hidden at home is vulnerable to fire, flood, theft and inflation. Folasade learned that the hard way. Regulated banks and cooperative societies are not perfect, but they are generally safer than a tin behind the wardrobe.
Refuse the schemes that promise to protect you from inflation by doubling your money. Ponzi schemes, “investment clubs” with impossible returns and unregistered online platforms prey on exactly the fear that inflation creates. Many believers who lost their savings in schemes like MMM were not greedy. They were frightened and looking for a way to protect what they had. “Wealth gotten by vanity shall be diminished: but he that gathereth by labour shall increase” (Proverbs 13:11).
Think about the longer future, including old age. Contributory pensions, insurance and a written will are acts of love toward your family. “A good man leaveth an inheritance to his children’s children” (Proverbs 13:22). But keep even these in their proper place, under God.
What is the money for?
All of this brings us back to the central question. Saving is wise. Preparation honours God. But every reserve must answer a question: What is it being prepared to serve?
A reserve can serve your household’s genuine needs, protecting your children from hunger and your family from avoidable debt. That is good. It can serve the work of your hands, buying the tools and stock that make honest labour productive. That is good. It can serve the future, providing for old age and leaving something for the next generation. That is good. And it can serve your neighbour, allowing you to respond when someone near you faces a crisis. That is good too.
But a reserve can also serve fear, standing as a wall between you and God’s care. It can serve pride, becoming a figure you check to reassure yourself of your own importance. It can serve isolation, keeping you from ever being touched by another person’s need. When it does these things, it is no longer the ant’s storehouse or Joseph’s granary. It has become the rich fool’s barn.
God is not against His people having savings, and He is not against His people prospering. He takes pleasure in providing for His children, and He gives them wisdom to prepare. But wealth in the bank is never the measure of His favour, and it is never the foundation of our security. That foundation is the Father who knows what we need, and whose good pleasure it is to give us the kingdom.
Ask the question regularly. Look at what you have set aside and ask the Lord, “What is this for?” Ask it when you are tempted to spend everything, and ask it when you are tempted to hold everything. His answer will often surprise you.
Folasade told Mrs Edet about the Milo tin the following week. She had never told anyone. The older woman listened, shook her head over the ruined notes, and then asked a question that Folasade said she could not stop hearing. “My dear, what was the money for?”
Folasade opened her mouth to say, For safety, and found that she could not. Safe from what? Safe for whom? She realised that the money had not been for anything. It had been a wall.
Over the next few months, things changed slowly. She took the cash that had survived to the bank and opened a proper savings account. She told her husband everything, and together they agreed on an emergency fund and a list of things they were saving toward. She kept her contributions with Mrs Edet, but now each payment had a name: the new machine, the shop rent, the children’s fees. Before the end of the year, the new industrial machine was humming in the shop, and her apprentices were finishing orders in half the time.
And one Saturday she knocked on the door next door. Nkiru’s surgery had eventually been paid for by the church and the compound together, but she still needed physiotherapy, and her parents had been struggling to afford the sessions. Folasade sat in their parlour and asked how much the rest of the course would cost. Then she paid it.
Punchline“I used to save because I was afraid,” she said later. “Now I save because I have somewhere for the money to go.”
Teaching Companion
For Reflection
- What experiences in your past have shaped the way you save or spend?
- Are you more tempted to spend everything, like the foolish person in Proverbs 21:20, or to hold everything, like the rich fool in Luke 12?
- How does the story of Joseph change the way you think about the purpose of savings?
- What is the difference, in your own heart, between saving as an act of trust and saving as an act of fear?
- If you looked at your current savings and asked, “What is this for?”, what would the honest answer be?
This Week
This week, write down every reserve you have: bank accounts, contribution groups, cash at home, anything set aside. Next to each, write what it is for. If something has no clear purpose, pray about what it should serve. If you have no reserves at all, decide on one small, regular amount you will begin setting aside this month, however modest. Then choose one person whose need you have noticed and ask the Lord whether some of what you hold should reach them.
A Prayer
Father, thank You for the wisdom of the ant and the example of Joseph. Teach me to prepare for tomorrow without fearing it. Forgive me for the times I have spent carelessly, and for the times I have held on tightly because I did not trust You. Let my savings serve Your purposes: my household’s needs, the work of my hands, the future You have given me, and the neighbour You have placed beside me. Make me ready to distribute and willing to share. I rest in Your care, for it is Your good pleasure to give me the kingdom. In Jesus’ name, Amen.
Truth received brings freedom. Truth believed establishes the heart.
Scripture quotations are from the King James Version. · Illustrations using first names only are composites unless stated otherwise.