Have you ever wondered why the day after Thanksgiving is called Black Friday? According to Wikipedia, on Black Friday many retailers began seeing “black ink” in their accounting ledgers as they finally overcame their losses for the year and began seeing profits. Many retail businesses I’ve counseled over the years have absorbed losses throughout the year with the hope that ...
Lucy had a new consumer product and a need for significant cash. Some investors tempted her with funding, but she feared partnering with people who don’t share her faith and her passion for generosity. After prayer and counsel, God provided a new option that still allowed Lucy to walk-out her faith without being unequally yoked. The Apostle Paul wrote in ...
When my daughter, Megan, was in high school I challenged her to dream of finishing college debt-free! At first, this seemed impossible, but with Kathy and I encouraging her, Megan eventually realized that trusting God and working hard made a debt-free education possible. With God’s blessing and Megan’s hard work, our daughter graduated from graduate school in 2012 - debt ...
A business owner called for counsel. He had built his machine tooling business without debt, but had recently landed a contract with a major corporation. The contract was for $500,000, but to complete it, he needed $250,000 for equipment. He felt he had no option but to borrow the money. He and I discussed options, and prayed together. Then I ...
As a banker, several customers wanted me to loan money to their friends. Originally, I made some of those loans… provided that my original customer guaranteed the debt. Many borrowers defaulted, requiring me to collect the loans from unhappy customers. Eventually, I refused these kinds of loans. They were too risky for our customer and for the bank. Proverbs 6 ...
Mark had a $3,600 credit card bill that was turned over to a collection agency. Mark feared calling the collector due to their ruthless reputation. His mind raced with worries of the bank seizing his business. After listening, I realized Mark needed some reality and hope. We developed a plan for debt repayment. Then I urged Mark to stop worrying ...
Months ago, at 1:30 am, we received the call. My wife, Kathy, was told that our son, Jeremy, was in the emergency room because the group home he lived in had caught fire! Fortunately, Jeremy was not harmed physically, but Jeremy suddenly had no place to live and no belongings. This forced Jeremy, Kathy and I to adjust. Fortunately, we ...
Sustainability is a hot topic with many nonprofits. Some ministries are 100% dependent upon donations while others have their revenue coming predominantly from fee income. God may want some to cling to Him, making them donation dependent, while others, like my friends at Kingdom Advisors, who also rely on God, depend on fee income. Kingdom Advisors once tried a donation-only ...
A radio commercial recently tried to entice me to sign-up for a course on “how to get rich buying real estate without using any of your own cash.” These get-rich-quick schemes are usually tied to the concept of borrowing your way to financial freedom. The reality is that this practice usually leads to financial bondage! As a former banker, I ...
In 1932, R.G. LeTourneau, the “Dean of Earthmoving Equipment,” was deep in debt and behind in paying his employees. Yet, R.G. was confident God wanted him to make a $5,000 pledge to his church. R.G. reminded God that his employees would think he was a hypocrite if he paid the church before he paid them. Choosing to obey God, R.G. ...
Equipping Others to Do Work Differently
