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My first job after college was with a large CPA firm. After my first performance review and raise, I decided I deserved a reward.
So, I bought a new Chevrolet Monte Carlo, borrowing every dime the bank would lend. The net result was my monthly car payment far exceeded my monthly pay increase. I parlayed prosperity into poverty.
Corporate America seems to be on the same track. We are in the longest economic expansion in our history, with corporate profits growing 46% since 2010. But corporate debt has grown more than 60% during that same time!
Proverbs 13:18 teaches, “Whoever disregards discipline comes to poverty and shame, but whoever heeds correction is honored.”
Times of prosperity is the best time to be disciplined and prepare for the times of poverty.
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