Tag Archives: money

Thoughts On Co-signing

Proverbs 6:1-5

1My son, if thou be surety for thy friend, if thou hast stricken thy hand with a stranger,
2Thou art snared with the words of thy mouth, thou art taken with the words of thy mouth.
3Do this now, my son, and deliver thyself, when thou art come into the hand of thy friend; go, humble thyself, and make sure thy friend.
4Give not sleep to thine eyes, nor slumber to thine eyelids.
5Deliver thyself as a roe from the hand of the hunter, and as a bird from the hand of the fowler.

Practical Wisdom

When it comes to the wisdom of Proverbs, some think it’s all spiritual. Much like the person who thinks faith should be kept out of everything secular, such as politics or the workplace, these people assume biblical wisdom is incompatible with everyday life. How wrong they are!

Today’s passage is a lesson in financial wisdom. Here, Solomon is addressing the dangers of unwisely obligating one’s self to a creditor (stranger) on behalf of a friend.

Unsure Surety

There is nothing wrong with helping a friend. As a matter of fact, it was Paul who told Philemon that if Onesimus owed him anything to “put that on my account…I will repay” (Phil. 1:18-19). Helping someone out when they are truly in need, especially when you have the ability, is the right thing to do.

“If there is a poor man among your brothers in any of the towns of the land that the LORD your God is giving you, do not be hardhearted or tightfisted toward your poor brother. Rather be openhanded and freely lend him whatever he needs.” – Deuteronomy 15:7-8 NIV

However, Solomon is warning that we should be very careful when entering agreements (striking hands) on behalf of others, even our friends. You see, to be a “surety” for someone means guaranteeing the lender your friend will pay his debt. The problem comes when you end up owing what you cannot pay, therefore putting your family and your self at risk.

“Can You Co-Sign for Me?”

How many times have you been asked to co-sign on a loan? How many times have you had a brother-in-law ask for help starting a business that “can’t fail?” How many times have you felt sorry for someone, only to get burned in the end?

Many times we want to help our friends and loved ones, but end up snared by people we don’t even know. “I’ll help you this time,” we say. Then, a few months later, Hunter Loan Company is tracking us like deer.

Spiritual Application

There is a practical, yet spiritual principle to be found in the following verse: “[If] any provide not for his own, and specially for those of his own house, he hath denied the faith, and is worse than an infidel” (1 Tim. 5:8). The principle is “if you can barely afford to take care of your own family, don’t make financial commitments you can’t keep.”

Solomon says that even if you have become surety for a friend, prove his friendship – get him to relieve you of your obligation. Otherwise, when the rubber check hits the road, you risk losing not only your money, but your good name, your friend, and even your faith.

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What is my goal for wealth?

I have a goal. I have a plan. I have dreams. They involve money.

What does wisdom say about that?

  • What is my goal for wealth? I am overwhelmed with messages about wealth and retirement. They are everywhere I turn. Jesus says “Be generous. Give to the poor. Get yourselves a bank that can’t go bankrupt, a bank in heaven far from bankrobbers, safe from embezzlers, a bank you can bank on. It’s obvious, isn’t it? The place where your treasure is, is the place you will most want to be, and end up being.” (Luke 12:33-34)
  • Am I willing to wear myself out to get it? Trying to get wealthy will wear me out. There just enough hours in the day and there is always more to do.
  • Do I understand that wealth is fleeting? Jesus says “Don’t hoard treasure down here where it gets eaten by moths and corroded by rust or—worse!—stolen by burglars. Stockpile treasure in heaven, where it’s safe from moth and rust and burglars. It’s obvious, isn’t it? The place where your treasure is, is the place you will most want to be, and end up being.” (Matthew 6:19-21)
  • What is God’s goal? God’s goal for me is focus on Jesus and being a good citizen of the Kingdom of God. God wants me to love. God wants me to use my money to be generous to others.

“Don’t wear yourself out trying to get rich;
    restrain yourself!
Riches disappear in the blink of an eye;
    wealth sprouts wings
    and flies off into the wild blue yonder.” ~King Solomon

Source: Proverbs 23:4-5

This proverb does not condemn wealth; it warns against the pursuit of wealth. Ecclesiastes also warns about pursuit of wealth and its inability to satisfy (Eccl 5:10).

It describes two situations: In one, a person pursues wealth but never enjoys it or finds satisfaction (Eccl 4:7–8). In the second, someone loses all their wealth and is left with nothing (Eccl 5:13–17).

These verses warn against overwork for the sake of gaining riches. This speaks not against being industrious but against consuming oneself for money. Wise restraint in this area (as well as in what one eats at a banquet, vv. 1–2) is needed, especially in the present day when materialism drives many people to excessive workloads in order to accumulate more money.

The reason for this advice is that riches are temporary and unstable .The first part of 23:5 is literally, “If you cause your eyes to fly after it” (i.e., wealth). Ironically, flying after wealth results in wealth flying away like an eagle.

 

Money


Your Name Is More Valuable

“A good name is rather to be chosen than great riches, and loving favour rather than silver and gold.” – Proverbs 22:1

Sales

I have had more than a few years of experience in the area of sales. I have, over the years, sold everything from credit card services to funeral pre-arrangements. Right now I sell for Aflac (the company with the Duck), and I hope to have a long relationship.

However, there have been times when I’ve been instructed by sales managers to do whatever it takes to close the deal. At one point one crook of a sales manager (I quit after this) told me, “After all, those people are not your friends.” I said, “Everyone is a potential friend.”

Sales can be a tough way to make a living – it’s actually hard on me right now – but some things are far more valuable than money.

Your Reputation

Some may think this is just a thing I say to gain trust, but it’s the honest-to-God truth. I tell people they can trust me because I have a reputation to protect.

Even though I could make a sale and make some money, what good would it do, in the long run, if word got out that I was untrustworthy? How would that affect my ministry? How would that affect my ability to lead a church, or share the gospel?

Oh, you don’t know how much I would love to open a few new accounts and pay my bills! I don’t want “great riches,” only enough to pay for necessities and a little more, plus enough to lay aside for later. “Tiny riches” would be fine with me!

But all the riches in the world are not worth ruining one’s name, especially when one’s name is associated with the Name above all names, Jesus Christ.

I’d rather have a good name that brings honor to His name than all the gold in the world.


Know-It-All’s Usually Don’t

Proverbs 13:7 stood out to me this morning.

“One man pretends to be rich but has nothing; another pretends to be poor but has great wealth.” – Proverbs 13:7 CSB

The obvious meaning has to do with tangible wealth. So often we see people who give the impression of being wealthy by the cars they drive, the clothes they wear, and the houses they live in. Yet, in many of those cases, the appearance of wealth is all they have.

Sadly, the same holds true with many who appear to be spiritual and wise. Everything on the appearance seems to point toward a godly life, one full of the Spirit and one that walks daily with the Lord. However, so often what we find once the bank account of the heart becomes public is that the spiritual wealth was only pretend – they had nothing.

One red flag to look for in both cases – tangible wealth and spiritual wealth – is how much the wealth is flaunted. So many times the most unassuming are the most wealthy.


Just Weight and See

A false balance is abomination to the Lord : but a just weight is his delight. When pride cometh, then cometh shame: but with the lowly is wisdom. The integrity of the upright shall guide them: but the perverseness of transgressors shall destroy them. -Proverbs 11:1‭-‬3 KJV

Dishonesty, or lying, is an abomination to God. Think about: He made it one of the 10 commandments! (#9, Exodus 20:16, Deuteronomy 5:20)

Dishonesty denies the image of God in others. It is the same as saying other people are worthless.

It also leads to problems.

False Balances

Something to arise in the most recent recession (about 2008) was the business of buying gold. You can bring in your jewelry and knickknacks to be weighed and sold based on the current market value. If a merchant used poorly (or fraudulently) calibrated scales, they could pay you far less than the current value. (I spent a very short time doing this, and they usually purchased an average of 15% below market value to make a profit.)

Who does it profit? Obviously the merchant.

Wait and See

One positive to government regulation is that there are frequent inspections to stop people from falsifying their scales. Those caught had to pay huge fines and permanently close up shop. At worst, they also went to jail.

When dishonesty is used, it is usually found out. Just look at the news on almost any given day, when business and government leaders are caught in the act of deceiving people.

Usually, it is because their pride convinces them that they are smarter than everyone else or that they are above everyone else, that the rules don’t apply to them.

But wait and see, their deeds will catch up to them.

It may not be in this life, but there will be consequences.

However, living honestly and with integrity not only protects you from bad consequences in this life, but it can lead you to live like God, who cannot lie (Numbers 23:19, Titus 1:2, Hebrews 6:18), and to Jesus, the way, the truth, and the life.


Debts & Promises

My son, if you become surety for your friend, If you have shaken hands in pledge for a stranger, You are snared by the words of your mouth; You are taken by the words of your mouth. So do this, my son, and deliver yourself; For you have come into the hand of your friend: Go and humble yourself; Plead with your friend. Give no sleep to your eyes, Nor slumber to your eyelids. Deliver yourself like a gazelle from the hand of the hunter, And like a bird from the hand of the fowler.
Proverbs 6:1‭-‬5, NKJV

Co-signed

Have you ever needed to take out a loan or get a service (cable, telephone, electricity, etc.), but your credit was … lacking? You need a co-signer to get that loan or service.

Perhaps you have been on the other side and have been the co-signer. It can be scary either way. I have been on both sides.

I have had to pay debts friends and family could not pay, and sometimes it was a struggle financially.

This could be a lesson on Christ’s sacrifice posting our debt of sin. Instead, this is about seeing how our promises can catch us.

Leaving the Altar

You see, our commitments have effects on others. We promise to pay that bill. We promise to be at that event. We promise to carry our fair share.

And then we don’t.

We put up the strong front and commit to keeping other promises.

Say, tithing.

But Jesus says, “if you bring your gift to the altar, and then remember that your brother has something against you, leave your gift there before the altar, and first go be reconciled to your brother before returning to offer your gift.” (Matthew 5:23‭-‬24)

In other words, humble yourself, and do what is right.

If as the one who owes, confess your wrong or inability and seek forgiveness. If as the one who is owed, forgive the debt (of the promise, of the burden) and move on (possibly through making a plan or as simply releasing all responsibility).

The big point is to hold onto the relationship above all else.

That is why Jesus sacrificed glory, comfort, and life: to forgive our debts and broken promises to restore the relationship. And He arose to guarentee it for eternity.


Wisdom over Harlots

Proverbs 29:3

Whoso loveth wisdom rejoiceth his father: but he that keepeth company with harlots spendeth his substance.
A man who loves wisdom brings joy to his father,     but a companion of prostitutes squanders his wealth. (NIV)

The second half of today’s verse probably does not need much explanation.

Getting prostitutes is not the best way to spend money.

For starters, they can be expensive up front. If they are not expensive up front, and even if they are, they could be even more expensive later.

You may need to also pay for:

  • Divorce
  • Counseling
  • Medical needs
  • Medication for said needs
  • Reputation
  • and much, much more!

Your wealth could be squandered very quickly with prostitutes.

A Happy Father

Wisdom is always the better choice.

It could make you rich, if you are wise with money, but there is no guarantee of that.

It will usually keep you out of trouble (though wicked people often find a way to bring you trouble!)

It is probably true with most parents, but I know when I made wise decisions those were the times my father was the most proud of me.

The satisfaction I think we should all strive for, though, is higher than that.

Solomon became king of Israel at a very young age, and God gave him the chance to ask for anything he wanted. Solomon asked for wisdom.

How did God respond? 1 Kings 3:10 tells us:

The Lord was pleased that Solomon had asked for this.

How amazing would it be to know our Heavenly Father, the God, Creator, and Savior of all creation, was happy with us?

Heavenly Father, give your servants discerning hearts to govern our lives and to distinguish between right and wrong. For who is able to govern this great people of yours, but You?