Spenders or Savers: Who’s Right?

When it comes to money, most of us lean one direction.

Spenders want to make the most of today. They live in the moment, enjoy experiences, and sometimes struggle to set aside money for the future.

Savers want security. They're disciplined, future-focused, and sometimes find it hard to spend money—even when they can afford to.

Most financial advice assumes spenders are the problem. Save more. Spend less. Build your nest egg.

But here's what I've learned after years of working with clients: saving too much creates just as many problems as saving too little.

Yes, you read that correctly.

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The Problem with Saving Too Much

When you save compulsively, a few things tend to happen.

You may neglect meaningful experiences with the people you love. That family vacation gets postponed. The gift you could afford to give feels too extravagant. Time passes, and you realize you traded memories for a larger account balance.

You may also find yourself putting your hope and security in the size of your savings—rather than in God. The number becomes a source of comfort. And when it dips, so does your peace.

This might sound surprising. After all, isn't saving responsible? Isn't it biblical?

It depends on what's driving it.

What the Bible Actually Says About Money

Scripture has a lot to say about money—and it challenges both extremes. (In fact, there are over 2,300 verses addressing money and possessions.)

For those who spend without thought for tomorrow:

"Precious treasure and oil are in a wise man's dwelling, but a foolish man devours it."— Proverbs 21:20

For those who hoard out of fear or greed:

"Whoever loves money never has enough; whoever loves wealth is never satisfied with their income. This too is meaningless."— Ecclesiastes 5:10

"The seed falling among the thorns refers to someone who hears the word, but the worries of this life and the deceitfulness of wealth choke the word, making it unfruitful."— Mark 4:19

For those who put their hope in wealth instead of God:

"Command those who are rich in this present world not to be arrogant nor to put their hope in wealth, which is so uncertain, but to put their hope in God, who richly provides us with everything for our enjoyment."— 1 Timothy 6:17

And the heart of the matter:

"For where your treasure is, there your heart will be also."— Matthew 6:21

Notice something? The Bible doesn't condemn saving. It doesn't condemn enjoying life either. What it warns against is the heart posture behind our financial decisions.

The Real Question Isn't How Much—It's Why

Whether you're a spender or a saver, the deeper issue is the same: What's driving your behavior?

If you struggle to save, ask yourself:

• Am I spending to fill an emotional void?
• Do I trust that God will provide, or am I trying to enjoy everything now because I'm anxious about the future?
• Have I confused wants with needs?

If you struggle to spend, ask yourself:

• Am I saving out of wisdom—or fear?
• Have I made my net worth an idol?
• Am I trusting in my account balance more than in God's provision?
• What experiences or generosity am I missing because I can't let go of money?

Both extremes reveal something about where we've placed our hope.

Finding the Balance: Biblical Stewardship

The Bible presents a third way. Not reckless spending. Not fearful hoarding. But faithful stewardship.

Stewardship recognizes that everything belongs to God. We're managers, not owners. That changes everything.

A faithful steward:

• Saves wisely for the future, providing for family and preparing for uncertainty (Proverbs 6:6-8)
• Gives generously because they trust God's provision and want to participate in His work (2 Corinthians 9:7)
• Enjoys gratefully the good things God has provided, without guilt or anxiety (1 Timothy 6:17)
• Holds loosely to wealth, knowing it's temporary and that true security comes from God alone

This isn't about finding the perfect percentage to save or spend. It's about aligning your heart with God's purposes for the resources He's entrusted to you.

Practical Questions to Consider

If you're not sure where you fall, here are a few questions worth sitting with:

• When I think about my savings, do I feel peace or anxiety?
• When I spend money on something meaningful, do I feel joy or guilt?
• If I lost a significant portion of my savings tomorrow, would my sense of security collapse?
• Am I giving generously, or does giving feel like a threat to my financial security?
• Have I asked God what He wants me to do with the resources He's given me?

These aren't easy questions. But they get to the heart of what Scripture is really addressing when it talks about money.

How Much Is Enough?

One of the most important conversations I have with clients is this: How much is enough?

Without answering that question, the goalpost keeps moving. You save more, but it never feels like enough. Or you spend more, but satisfaction never arrives.

Contentment isn't found in reaching a number. It's found in trusting the One who provides.

As Paul wrote:

"I have learned to be content whatever the circumstances. I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in any and every situation."— Philippians 4:11-12

That kind of contentment doesn't come naturally. It's learned. And it's available to spenders and savers alike.

We're Here to Help

Whether you've saved too much or haven't saved enough, there's a path forward.

At Peak Financial, we help clients think through these questions—not just the numbers, but the heart behind them. As Certified Kingdom Advisors, we believe financial planning should align with your values, your faith, and your vision for a life well-lived.

If you'd like to explore what that looks like for you, schedule a 25-minute conversation with our team. We'd be glad to help you find the right balance between saving, spending, and giving.

Nick Wolverton is a Certified Financial Planner (CFP®) and Certified Kingdom Advisor (CKA®) at Peak Financial Management, helping clients align their financial decisions with biblical principles.