Debt

Presuming on the Future

2021-02-10T22:26:00-06:00February 10th, 2021|Tags: , , |

With low interest rates and easy credit, many businesses have been piling on debt at a record pace. Any time you borrow money, however, you are presuming that you’ll have the ability to repay that debt. Your cash flow and collateral may be strong, giving you confidence in borrowing money. But what’s often overlooked is that only God knows the ...

The Consequences of Debt

2020-09-22T23:37:30-05:00September 21st, 2020|Tags: , , |

2020 should be a year that reminds many business leaders that excessive debt comes with consequences. According to the Financial Times, since the 1950s, business debt has been dramatically piling up on corporate balance sheets. With interest rates at an all-time low and considering the tax benefits for borrowing, many CEOs believed accumulating debt seemed reasonable. Borrowing money at less ...

5 Steps from Struggling to Thriving in Business: Part IV

2020-07-09T00:01:52-05:00July 9th, 2020|Tags: , , |

In this series, we’re discussing five steps to move from struggling to thriving in business. The fourth step to discuss is Communication. When I was hired to collect the bad loans at a troubled bank, I learned to appreciate those who openly communicated with me. Out of shame and uncertainty, people often refuse to communicate their struggles with their creditors. ...

Parlaying Prosperity into Poverty

2020-01-18T14:49:15-06:00January 23rd, 2020|Tags: , , , |

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 ...

No More Bondage

2019-04-29T16:28:38-05:00May 2nd, 2019|Tags: , , |

At the time of writing this article, unemployment claims hit a 50-year low. There are now more jobs available than we have people to fill them. With strong employment it would be a great time for consumers to pay down their debt, freeing themselves from bondage. Instead, the American Banker claims household debt hit a record high exceeding $13.5 trillion ...

Giving Until It Hurts

2018-11-21T11:37:07-06:00November 29th, 2018|Tags: , , |

Charles Spurgeon was invited by a man to help this man’s church raise money to pay off a debt. This wealthy man also told Spurgeon to feel free to stay in either his country house, his town house, or his seaside home. Spurgeon wrote him back and said, “Sell one of the places and pay off the debt yourself.” Sacrificial ...

The Bible on Building Wealth Part II

2018-08-05T19:59:34-05:00August 7th, 2018|Tags: , , |

This week we’re discussing the struggle some have over their business flourishing economically. A philosophy around since the first century claims that poverty is good for all. Material possessions were considered bad. Although some leaders are called to poverty, we cannot assume that to be true for all. Material possessions are not the problem. The motivations we have for acquiring ...

The Bible on Building Wealth Part I

2018-08-05T19:55:10-05:00August 6th, 2018|Tags: , , |

A friend is concerned that his business partner may leave their business soon, primarily because of his partner’s ingrained belief that building wealth is bad. His partner’s fears have surfaced due to rapid growth in their business. The belief that material possessions are bad has caused many to stumble since the first century church. Although the Bible can be used ...

The Poser

2018-05-11T15:11:10-05:00May 29th, 2018|Tags: , , |

When I was a loan officer, a man pulled up in a new Mercedes, was dressed very flashy, and was wearing lots of expensive jewelry. Afterwards, my assistant said, “That man looks very wealthy. Why does he need to borrow money?” I told her, “Like they say in Texas, he’s all hat and no cattle.” His Mercedes was about to ...

Don’t Limit God

2018-04-16T16:16:23-05:00April 17th, 2018|Tags: , , |

During my career, there are occasions when I’ve experienced struggles that seemingly could only be fixed with money. With my narrow view, I’ve prayed for God to fund the organization, not really considering other options. Sometimes He’s provided my need with volunteer labor instead. God has unlimited options. In Acts 3, a man who was lame since birth asked Peter ...

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