There are 10 ‘sins’ in money management that are guaranteed to land you and your Christian business into long-term debt, business failure, and ultimately bankruptcy unless there is a conscious and disciplined effort to ‘repent’ today. To be on your way to financial recovery and prosperity, you must understand and make the determination to ‘repent’ of what I call The 10 ‘Debtor Sins’. These include:
Debt Sin #1: You won’t be presumptuous in your finances
It is a serious sin of ‘indebtedness’ for you to assume that your job, your Christian business opportunity or your current level of income will continue as it is forever. When you spend everything you earn without thinking about what will happen if your current source of income is interrupted, you are committing a ‘sin’ of borrowing that you will most likely pay for in the future.
We should be thankful for our finances as they are now, but we need to manage what we earn now without assuming that things will always be as good. As we expect God to continue to provide our daily needs, we err when we begin to assume that our daily bread will always be there no matter how we manage our finances today.
Indebted sin #2: You will not be impulsive in purchases
Impulsiveness is one of the fastest ways to get into debt. When we buy things, not necessarily because we need them but simply because we like them or because they are on sale, we invite the spirit of debt to lurk in our homes. How many times have we bought things on impulse only to have ‘buyer’s remorse’ less than 24 hours later? To avoid this ‘sin’, we must have a system in place to ensure that our purchases are made after serious deliberation and consideration of our current needs or requirements.
Indebted Sin #3: You shall not covet your neighbor’s possessions
Covetousness is one of the cardinal vices against which God first counseled us. We often get into debt because we want our neighbors to have a new car, new clothes, or new purchases. In our attempt to hang out with the ‘jones’, we often stretch our finances to the point where taking on more debt becomes inevitable for us. To avoid this debt-ridden ‘sin’, we must learn to be content with what we have within our reach.
Debt Sin #4: You won’t forget to set financial goals
It is easier to score a goal, when the goalpost is very clear. Without a goal post, you can dribble your life without accomplishing anything. You can’t achieve goals if you don’t set them. Financial goals must be clearly established and doggedly pursued to reach the financial destination you desire. Your financial decisions will then be guided by the goals you have set for yourself. You will dissipate less energy for better results if you have a goal that you pursue.
Debt Sin #5: Don’t Be Too Passive About Your Debt Situation
You cannot afford to wait and think that your debt situation will resolve itself. You must be very active in trying to find a solution. You must take your destiny into your own hands and seek God’s advice on how to deal with it. Passivity will kill you!
Debt Sin #6: Thou shalt not waste God’s resources
God will hold you accountable for the resources he has invested in you. The parable of the Talents is a good warning to which it is recommended to pay attention. It is a sin “in debt” to waste your resources and resort to loans to fill the gaps in your lifestyle. Borrowing resources to waste them on unworthy projects or activities in a ‘sin’ is sure to ruin you.
Debt Sin #7: Thou shalt not procrastinate on financial matters
Procrastination is the biggest enemy of progress. Once you have decided on a course of action to solve your financial problems, you must act immediately. A wasted day is a wasted day forever and that will add many days to your days in the financial wilderness.
Debt Sin #8: You won’t avoid responsibility for your finances
No one is responsible for your financial situation except you. To pass the responsibility onto others is to risk a lifetime of financial worries. It is your responsibility to seek out books, seminars, mentors, and opportunities that can help you. People can only help you, but they are not responsible for you.
Debt Sin #9: You will not rob Peter to repay Paul
Money saved for retirement or for your children’s education should not be applied to an emergency that does not concern them. Stealing from Peter to pay Paul will eventually disrupt his chances for financial advancement and success.
Debt Sin #10: You won’t spend more than you earn.
You may have heard the saying, ‘cut your coat to your size’, but I’m telling you, cutting your coat to your size will ultimately create debt problems if you don’t have enough cloth! You must learn to cut your coat according to your fabric, and not according to your size, if you do not have enough meters of fabric. The fastest way to financial ruin is to live beyond your means. There’s no point spending money you don’t have, to buy what you don’t really need, just to impress people who don’t really like you!
As the Bible repeatedly warns us, every sinner will ultimately pay the price unless there is repentance before judgment comes. In the same way, in the business world, no debt ‘sin’ will go unpunished in the market. It’s time to start making some serious repentance for these ‘sins’ by getting rid of all the bad habits that led you to commit them in the first place. Discipline is the secret to ‘fairness’ in the marketplace, when it comes to these debt-ridden sins, and you must be disciplined.
As a Christian business owner, you can choose to be on the path to financial health and wealth in any Christian business opportunity you choose, or you can afford and pay the ultimate penalty for the sins of debt, which is business failure, shame , loss of investment and, ultimately, bankruptcy. My prayer is that is not your portion!
For your success,