Saving is a conscious choice
Proverbs 21:20 The wise store up choice food and olive oil, but fools gulp theirs down.
Proverbs 30:25 Ants are creatures of little strength, yet they store up their food in the summer;
The context of this is regarding food. But when we delve in deeper, this can be applied to our finances. Here in the United States, 8 out of 10 Americans cannot afford an unexpected $500 bill. The wise take the initiative to save, whether that’s a considerable amount or a few dollars here and there. A fool spends their money on things that add no value to their life. Something that may seem insignificant to us, like ants, save. That says a lot about what humans ought to do.
Make sure to diversify!
Ecclesiastes 11:2 Invest in seven ventures, yes, in eight; you do not know what disaster may come upon the land.
By diversifying, you actually mitigate risk. For a simple thought experiment, let's suppose you have 8 holdings. One of them tanks. You still have 87.5 percent of your money that is making you passive income.
Time in the market beats timing the market
Ecclesiastes 11:4 Farmers who wait for perfect weather never plant. If they watch every cloud, they never harvest.
If you wait for that golden moment to dump all of your money into an asset, you might miss it. If you always wait for the dip, you could miss out on a bull run. I would go as far as investing in general. The best time was in the past, but the next best time is today.
