Thursday, November 6, 2008

The 10 DEBTLY SINS And How to Avoid Them In Your Christian-Based Business

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The 10 Debtly Sins And How To Avoid Them
Copyright © Ope Banwo, The Wealth Apostle
www.ChristianBusinessInitiatives.com
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This Article explains the 10 habits that can take you into debt, financial slavery and business failure. It also explains how to ‘repent’ of those debtly sins and be on your way to financial health, wealth and prosperity.

There are 10 money management ‘sins’ that are guaranteed to lead you and your Christian based 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 a determination to ‘repent’ of what I call The 10 ‘debtly sins’. These include:

Debtly Sin #1: Thou Shall Not Be Presumptuous On Your Finances
It is a serious ‘debtly’ sin for you to assume that your job, Christian business opportunity or present level of income will continue as it is forever. When you spend all you make without thought to what will happen in the event that your present source of income is interrupted, you are committing a debtly ‘sin’ for which you will most likely pay down the road.

We should be grateful for our finances as they are right now, but we must manage what we make now without presuming that things will always be this good. While we expect God to continue to provide our daily needs, we err when we begin to assume that the daily bread will always be there no matter how we manage our finances today.

Debtly Sin #2: Thou Shall Not Be Impulsive On Purchases
Impulsiveness is one of the quickest ways to get into debt. When we buy stuff, not necessarily because we need it but because it just catches our fancy or because it is on sale, we invite the debt spirit to haunt our homes. How many times have we bought stuff on impulse only to have a ‘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 deliberations and consideration of our present needs or requirements

Debtly Sin #3: Thou Shall Not Covet Your Neighbors Possessions
Covetousness is one of the cardinal vices God first counseled us against. We often get into debt because we covet our neighbors new car, new clothes or new acquisitions. In our bid to hang with the ‘joneses’, we often stretch our finances to a point where taking on more debt becomes inevitable for us. To avoid this debtly ‘sin’, we must learn to be content with what we have within our means.

Debtly Sin #4: Thou Shall Not Forget To Establish Financial Goals
It is easier to score a goal, when the goal post is very clear. Without a goal post, you can dribble your life away without achieving anything. You cannot achieve goals if you don’t set one. Financial goals have to be clearly set and doggedly pursued in order to arrive at 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 greater results if you have a goal you are pursuing.

Debtly Sin #5: Thou Shall Not Be Too Passive About Your Debt Situation
You cannot afford to wait around thinking that your debt situation will resolve itself. You must be very active in trying to find a solution. You must take your destiny in your hands and seek Godly counsel on how to deal with it. Passivity will kill you!

Debtly Sin #6: Thou Shall Not Be Wasteful Of 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 you are well advised to heed. It is ‘debtly’ sin to waste your resources and resort to borrowing to fill the gaps in your lifestyle. Borrowing resources to waste on unworthy projects or activities in a sure ‘sin’ that will ruin you.

Debtly Sin #7: Thou Shall Not Procrastinate On Financial Matters
Procrastination is the greatest enemy of progress. Once you have decided on a course of action to solve your financial problems, you must act immediately. A day wasted is a day wasted forever and that will add many days to your days in the financial wilderness.

Debtly Sin #8: Thou Shall Not Avoid Responsibility For Your Finances
Nobody is responsible for your financial situation but you. Passing the responsibility to others is risking 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.

Debtly Sin #9: Thou Shall Not Rob Peter To Pay Paul
Money saved up for retirement or for the education of your children should not be applied towards an emergency that does not relate to them. Robbing Peter to pay Paul will eventually disrupt your chances of financial progress and success.

Debtly Sin #10: Thou Shall Not Spend More Than What You Earn.
You may have heard the saying, ‘cut your coat according to your size’, but I say to you that cutting your coat according to your size will ultimately create debt problems for you, if you do not have enough cloth! You must learn to cut your coat according to your cloth, and not according to your size, if you don’t have enough yards of cloth. The fastest way to financial ruin is to live beyond your means. There is no point in spending money you don’t have, to buy what you don’t really need, simply to impress people who really don’t like you!

As the bible repeatedly warned us, every sinner shall ultimately pay the price unless there is repentance before judgment comes. Same way, in the business world, no debtly ‘sin’ will go unpunished in the marketplace. It is time to begin to do a serious repentance from these ‘sins’ by getting rid of all the bad habits that led you to them in the first place. Discipline is the secret to ‘righteousness’ in the marketplace, when it comes to these debtly sins, and you must be disciplined.

As a Christian based business owner, you can choose to be on your way to financial health and wealth in whatever Christian business opportunity you choose, or you can allow yourself and to pay the ultimate penalty for the debtly sins which is business failure, embarrassment, loss of investment and ultimately bankruptcy. My prayer is that that will not be your portion!

To Your Success,

The Wealth Apostle

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About The Author:
Ope Banwo, The Wealth Apostle, is the owner of ChristianBusinessInitiatives.com and has helped thousands of people start and run a successful Christian Based Business on the internet. To find out how The Wealth Apostle can help you build your Christian based business website and teach you how to succeed online. Visit:
http://www.christianbusinesssinitiatives.com
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