Proverbs 6:6-8 “Go to the ant, you sluggard; consider its ways and be wise! It has no commander, no overseer or ruler, yet it stores its provisions in summer and gathers its food at harvest.”
This is an interesting word picture and an example for those who want to create security, financial stability and a legacy, but have not done so.
Principle: God’s Word provides examples of savings and future planning.
Be diligent, self-motivated and make plans by saving enough to carry you through an economic crisis and the certainty of your death.
For healthy financial management, live within your means. Live carefully so that you can invest extravagantly. Get expert advice from knowledgeable people. Borrow only for things that will increase in value. Pay for necessities and skip things that only provide instant gratification. Decide what you want to accomplish with savings and start saving now. If you are deciding on an investment, sleep on the decision, and then act. Have enough insurance to take care of your family and to cover an unexpected downturn of your business affairs.
For crisis planning, business owners should answer “yes” to the following: do you have a written will and/or a trust? Is there a list of important papers and insurance policies, bank accounts, money market accounts, CDs, bank notes, etc? Is there a person authorized to sign the company checks the day after your funeral? Is there a person who can deal with the bank if there is a line of credit? Are there second signatures for each account? Is there a plan for the business to wind down? Are there good, accessible records for the account receivables? Is there a clear record about leases? Is there a list of who has possession of company credit cards, cell phones and other company property?
Your wife, family, employees, suppliers, bank, and financial institutions will bless you and so will God if you take these matters in hand. At the very least have a written draft of all the above done before the day of your transfer to heaven.
Pay attention to the ant and learn a life-planning lesson from it.
Discussion:
1. How many of the questions above can you answer “yes” to?
2. Pick one of your “no” answers and make a plan today to turn it into a “yes.”
3. Tell someone your plans so they can hold you accountable.
