KS 414 - Giving Your Way Out of Debt

Chapters

• 0:00 Proverbs for Marketplace Christians

Transcript

Speaker 1: 0:01

Proverbs 22,. Verse 29 says Do you see a man skillful in his work? He will stand before kings. He will not stand before obscure men. Fellow Marketplace Christians, stop apologizing and start winning. Welcome to the Success Edge, the show that helps you take your walk as a Marketplace Christian to the next level. Here's your host Christian entrepreneur Tyler McHart.

Speaker 2: 0:31

What's going on? Kingdom of Success. This is Tyler McHart coming at you, episode 414, and I'm excited to be able to do this episode. Happy 4th of July. Happy birthday, america. And this episode is going to be coming out sometime in that week of the 4th of July. Happy birthday, america. And this episode is going to be coming out sometime in that week of the 4th of July.

Speaker 2: 0:49

But I will actually be on a cruise ship, so I'm doing this episode a little bit in advance inside to be able to still be able to do this, and I appreciate everyone that's a listener and that actually takes your time. Whether this finds you cutting your grass or you're riding down the road or you're on a walk or on a treadmill, wherever this finds you, I just really appreciate you actually tuning in. So this actually episode is actually sponsored by the family banking education business that I am actually doing right now. So if you're actually interested in actually creating a legacy and having your children's children be able to benefit and have some longevity to what you've been working for for all your life, basically, for you know, I think we say we work about 80,000 hours of our lives and we only spend about 10 hours or less. I think that's the stat that we spend on succession planning and legacy planning. So get in touch with me. Okay, you can reach out to me, send me a message. Right there it says send me a text and we'll chat. So let's jump into this episode here.

Speaker 2: 2:19

So I was riding on the road and I was listening to a podcast and this gentleman just kind of telling a story. I don't believe this gentleman is a. He didn't say he was a Christian. This podcast that I listened to is not like biblically based. It's not a podcast about you know anything when it comes to saying, hey, you know, we love Jesus, how about you Anything like that? But the gentleman that was interviewing the guy so the guy that was actually being interviewed, I should say told a story about how he was actually had just wound up finishing up his corporate career and went into business for himself. He had over a million and a half dollars in the bank and after about 10 years of him leaving his corporate job and getting into business for himself, he wound up being basically almost to the month of him actually leaving his corporate job and having that million and a half dollars in the bank, literally in $2 million in debt. This is 10 years in the making. This didn't happen overnight. It can happen to any of us, whether we get in debt and we allow debt to kind of swallow us up. And I'm not going to sit there and say that debt is a bad thing. The Bible is definitely very clear that you know you can borrow. Okay, I mean, it doesn't say not to borrow, because obviously it says it's better if you are more of the you know lender versus the borrower. But it depends on how you are structuring that debt and how you have it laid out.

Speaker 2: 4:26

I'm not going to get into that right now, but what I am going to get into is what this gentleman actually decided to do, and I just thought it was just a great story of how he got himself out of debt and what took place. And, quite honestly, this is all biblically based. So he decides whenever his partner comes to him his business partner comes to him right around that 10-year anniversary, comes to him and says, hey, look, I can't make any more of the payments as far as the debt. I need you to take over these properties and you take over the business and you're going to be now the sole owner of the business. Well, that's what caused him to go into debt up to $2 million. Well, that's what caused him to go into debt up to $2 million. Well, he came to his family and he said man, this is just an opportunity. Which I thought was interesting. He said there was an opportunity, there was an opportunity for him to get out of debt and to be able to help his family out as well and not just cave to what would happen with you being in debt. So he went to his family and said "'You know what, guys? "'we're going to give our way out of debt'". Notice that he is going to give his way out of debt, which I thought was fascinating to hear him say that. He said we decided that we're gonna pledge a certain amount of money, and even though it was painful he said it was painful so it was definitely a sacrificial giving that he was doing. Even though it was painful, he decided to plunge forward and him and his family rolled sleeves up and started to still give to different organizations that they were passionate about. Well, interesting enough. Interesting enough, about two to three months into this whole process of him making the decision that he's going to give his way out of debt. He had a random conversation with a gentleman and that gentleman gave him an idea about a five acre track of land that his business actually owned, that he had trouble subdividing, and that idea was something that had never been done in this area before and it actually went totally against a law that the city had for a city ordinance. Well, he went to the actual lady that was actually the zoning commission and planning department and explained to her what he was about to do and the idea he had and how he was going to, you know, basically go do this, which was not against the law, but obviously turning the law on its head, basically.

Speaker 2: 7:32

And the lady looked over her you know bifocals, as he says it and said, sir, in my 30 years of actually being in this position, no one has ever challenged us or done something like this ever before. And then, with a little smile, a little smirk on her face, she says I'm not going to stand in your way because it is totally legal. And from that point on, he had to get some lawyers, he had to get some different attorneys involved and had to get some different real estate people involved about five different buyers to be able to make all this happen. But after he did that, here's the wild thing, guys. After all that, 13 months 13 months of him making the decision to get out of debt- by giving.

Speaker 2: 8:28

13 months later he was completely out of debt and paid off the two million dollars. Gang, I love that story, I think it's biblical. Given it shall be given unto you. Good measure pressed down, shaken together, men shall give unto your bosom. With what measure you meet, it is measured back to you guys. Gang, you can't out give God. I'm living proof of that right now, even my own myself. And I am living that right now also, gang, highly recommend, if you want to get out of debt. Okay, this is just a suggestion, only suggestion. I got out of debt by giving also, and you know what. You can't go wrong, because you never can out give God. So, kingdom success. Know that you're blessed, you're highly favored, you're empowered to prosper, you walk in divine health. The spirit of breakthrough is on you guys and gang, we'll catch you on the other side.