#SucceedingWithoutBleedingSeries #WorkplaceSurvival #BorrowingDecisions
We begin on our #SWBSeries for the year with #TheBorrowingDecisions.
Let me first let you know that this series will or may challenge our thinking, throw some spanner into our mindset but in it all, let’s do well to be open to the wisdom in it.
To the learning curve there to; to the paradigm shift and the liberation to be experienced, I’d say to you Cheers!
NOW, come with me on this Journey…
In TIMELESS PRINCIPLES borrowing is neither forbidden nor encouraged. What you’d notice is that, it is often pitched in a negative context with lot of caveat about its misuse.
Borrowing whether within business or personal context have three core TIMELESS PRINCIPLES related to it.
#PRINCIPLE 1: Avoid Borrowing Except ABSOLUTELY Necessary
You’d be paying well over for anything when procured/purchased through borrowing or financing. Think about it: how much for instance, will the cost of a brand new car(s) cost when purchase through financing? Your answer is as good as mine. You can’t imagine the price huge difference!
You see with debt, one is vulnerable to any downturn in the economy. I reckon you have very intelligent accountants on your team who pitch to you how of a not great idea it is to use company’s growing profits to pay off its outstanding debt on the premise that it not Tax-Wise.
Sounds good that doing that you’d use the interest on the debt to offset tax; and then use your cash to expand your business, right?
You know what? Doing that makes you highly vulnerable particularly at downturn.
You see it pays to pay off your debt particularly when you have windfall that keep you debt-free within a short time and avoid risking all you’d ever worked for.
Luke 12:58-59 Advisory put it aptly when it says:
“You don’t have to be a genius to understand these things. Just use your common sense, the kind you’d use if, while being taken to court, you decided to settle up with your accuser on the way, knowing that if the case went to the judge you’d probably go to jail and pay every last penny of the fine. That’s the kind of decision I’m asking you to make.”
DO NOT BORROW NEEDLESSLY- Let’s think about this and take action! I’d see you tomorrow BHG.
People | Insurance | Sustainable Value
#SucceedingWithoutBleedingSeries #Business-WorkPlaceSurvival #TBD
Have a Truly Rewarding 2015. Good morning!