We might be familiar with the phrase, "saving money for a rainy day" but it turns out very few of us are doing this. In fact, not only are we failing to save, we're dipping into our cash reserves to fund our lifestyles. With reports that the saving ratio in UK households has dropped to a record low, it's probably time that we all reconsidered how we look after our finances.

We can struggle to save money for a number of reasons, like modest salaries coupled with multiple outgoings, price rises and unexpected expenses, but our inability to save can also be down to a lack of knowledge in understanding how to budget and manage money well. We can turn to the bank, accountants, professional investors and a range of other sources for practical advice on how to save, invest and take care of our income, but what guidance can Christians find on the practice in the Bible?

The Bible is full of direct and indirect guidance on money management, and saving in particular. These verses are just three that we can look to to inspire our approach to saving money.

1 Corinthians 16:2 - On the first day of every week, each one of you should set aside a sum of money in keeping with your income, saving it up, so that when I come no collections will have to be made.

This practical advice which Paul gave to the people of Corinth can be adapted to inform how we tackle saving today. Depending on when we get paid, and how often, choosing a regular interval to put aside a certain amount of money is one of the most fundamental and effective habits when it comes to saving.

Proverbs 21:20 - The wise store up choice food and olive oil, but fools gulp theirs down.

This verse refers explicitly to food produce, but we can readily apply it to money matters too. Because we never know what unexpected expenses are around the corner, for us or our friends and family, it's smart but very simple advice to stagger our spending in between paycheques.

Matthew 25:23 - His master replied, 'Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master's happiness!

When we're struggling to make ends meet, we can think that more money is the only solution to our financial issues but this isn't always the case. In some instances, the key to finding ourselves in a position which enables us to save doesn't require more money but for us to first cope with managing the initial modest income. Essentially, "if you look after the pennies, the pounds will look after themselves". Looking at Matthew 25:14-29 in a literal sense, saving doesn't necessarily mean storing our money without allowing it to grow interest, but identifying how best it can be utilised.