22 Sep Eccelsiastes 11: 1-6 It Takes Courage To Get Out Of Debt.
During this recession, depression, fledgling economy it takes courage to get out of debt as it says in Ecclesiastes 11: 1-6. Many will turn to the good book for counseling and comfort during these tough times. But the good book may offer sound advice in good times as well as bad. It never ceases to amaze me the amount of financial advice the Bible has to offer.
Ecclesiastes 11: 1-6 explains that one must take a risk in order to reap a reward. It has been said that there were more millionaires made during the great depression than any other era. During the time of the depression it took great courage to step out in faith and follow one’s dream. Our country is faced with tough times again and some will step out in faith to strike their fortunes where others will fail.
There are two parts to the Ecclesiastes passage referred to above. Ecclesiastes 11 1:2 discusses diversifying your investment. You need not look any further than the past and current headlines to verify that this is very sound advice. If you were an employee of KMart or such companies such as Merck, Farmland Industries or even Ford you understand all too painfully if your entire retirement portfolio was invested solely in your company stock.
By diversifying your investment whether it be an investment in time, talent or money you have a better chance of a positive return on your investment. This diversification MUST be balanced though because if you go overboard with your investment you may spread your investment too thin. Right about now you may be thinking about the phrase “Don’t put all you eggs in one basket.” or “Don’t count your chickens until they hatch.” Same thinking.
If you place all your dreams into one investment, all your eggs in one basket or plan your financial life around the eggs that have will potentially hatch, then what will you do when you investment blows up, you drop the basket holding the eggs or your eggs do not hatch? Diversify and your chances are better that one of your investments will succeed. It is also referred to spreading the risk.
Ecclesiastes 11: 3-6 might be quoted as the Carpe Diem passage. Seize the day! The passage talks about not sitting back and watching the wind and clouds. Meaning that those who sit idly by and do not work their investments will never see a return on their investment. Makes sense doesn’t it? If Disney sat back and did not work his investment Mickey Mouse, where would the Happiest Place on Earth be?
Don’t let an overload of debt or the depressing times kill your investment. Rather seize the opportunity to step out in faith and work your investments. There are many resources that you may seek out to assist you with your investments. If you are starting a business you can seek out help from the Small Business Administration, mentors in your local business associations and online sites. When I am speaking about online sites I am speaking about such sites as Facebook, Twitter and Linked In. These sites provide the opportunity to speak to those who may be able to help your investment grow.
Remember that knowledge is power and the more knowledge you have about your investments regardless of what type the investment is, the more power you will have to increase the return on your investments. Someone is going to use the current financial situation to reap the rewards. Why can’t it be you?
Written by Rachel Lynn Foley, Kansas City Missouri Bankruptcy Attorney.