Lately I’ve been besieged with requests for money from both long-time friends and acquaintances whom I barely know. Many don’t understand that I am keenly aware of how it feels to be broke. There was a time when I was homeless and the transition from that stage to where I am today was not an easy one.
My wife and I started out in the most humble of beginnings and often wondered if our lights might be turned off in our little two room apartment. It was a difficult time to even have enough to eat. Today I rank financial pressure as one of the worst types of stress.
Some of the stories being presented to me are filled with desperation and despair. It is as though the sky is falling. Upon close examination all but one is a matter of, if they don’t pony up some money and soon, they will be faced with having to give up possessions and material things. One friend simply cannot afford food for his children which is quite a different matter.
One time I was faced with total financial ruin. Several employees including my controller embezzled a huge amount of money from my company and by the time I discovered it, we faced a staggering sea of debt totaling $980,000. We did not have one penny of cash on hand and in fact were $280,000 overdrawn. Our inventory had been stolen, and we had no money to buy more. I’d worked 20 hours per day for seven long years to build a profitable successful company and in one day I was faced with losing everything I owned.
Everyone told me to take bankruptcy including my accountant, attorney, financial advisor, and even the bank that I was overdrawn against. Call me bullheaded, but I refused bankruptcy and vowed to repay all of the money I owed. Seven long years later I had repaid all of it and had rebuilt the company beyond its former position.
It was one of the best lessons that I ever learned, albeit one of the most difficult. I learned that I really didn’t have any friends and not one person was going to help me. I slashed costs beyond fat and even muscle, right down to carving on dry bones. Most importantly I told every creditor my circumstances and kept them informed weekly. The lesson I learned was that if you pay them something, anything, they will hold off legal proceedings. Avoiding them will ensure that they will see you in court.
I had to humble myself and listen to lectures over and again. Every phone call I got for years was to threaten me with if I didn’t pay up TODAY they would sue me! I never did get used to that and I dreaded going to work every day. At times I wanted to punch them right in the face, but I had to sit there and take it. One time I lost my temper and told one that he couldn’t get blood out of a turnip and he angrily snapped back, “Yeah, but I can get the turnip!”
Long story short I fought my way through it and repaid every dime of that money and no one sued me. Most said it was a miracle, but I say it was hard work and a willingness to subject myself to humiliation. I believe that this experience helped me beyond measure. Prior to it I was cocky and arrogant and afterwards I was far more humble and I no longer considered myself to be the invincible golden boy with a Midas touch. I also was keenly aware of how to make a budget and live within it.
It certainly drew me closer to the only ones who didn’t desert me in my time of need, namely my God, my family, and just two loyal employees. I learned that those whom I thought were my friends were actually just an entourage of people who wanted a money friendship and when I was riding high things were vanilla, but not when I got bucked off that golden steed. When the money dried up they were gone like a shadow on a cloudy day.
If you are facing extreme financial pressure today, take heart. It’s never as bad as it seems and to tell the truth if you do lose some “stuff” you should know that it can be replaced. I developed a saying of “Work don’t worry”. Worry just makes things worse. Spend your time working towards finding a solution and you will emerge from your dilemma much quicker.
Most of all draw close to God. It doesn’t mean He will lay $100K on your doorstep, (if He did you would probably just blow that too). It does mean that He will strengthen you and remove the stress provided you will allow him to do so.
God is with you always and He loves you more than you can envision. Sometimes He seems distant and we wonder why He doesn’t help. Consider that sometimes He helps us by allowing us to work through difficult situations and not bailing us out time after time. The toughest lessons in my life have always been the best in the long term. I believe that the combination of focusing on Him and what He is trying to teach me by allowing this trial to occur in my life, and thinking in the long term is where our minds should stay. Selah . . .
Philippians 1:6
And I am certain that God, who began the good work within you, will continue his work until it is finally finished on the day when Christ Jesus returns.
September 3, 2015 – Click here to listen