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Back to Co-Signing/Surety Avoiding Surety for Company By: Tom Copland June 15, 2020 God’s Word warns of the dangers of signing surety, which includes a situation in which a company owner gives a personal guarantee for the company’s debt. By refusing to give a personal guarantee for company debt, you will effectively protect your family’s assets, such as your home, retirement fund, etc. The objective is not to avoid paying your obligations, but rather to limit your risk and the potential negative consequences if something goes wrong. If you do not provide personal guarantees, and if the company does have a bad year, you will be in a much better negotiating position with your bank. Although financial institutions generally ask for personal guarantees, it is definitely possible to obtain a business bank loan without signing surety. If your company has a lot of debt, it may take a few years for you to convince the lender to release you from your personal guarantee. However, it is possible fundamentally because all things are possible with God, and it is clearly God’s desire that you do not sign surety. The following are some practical suggestions to avoid signing surety. 1. Build sufficient retained earnings in your company with the objective of negotiating the release of your personal guarantees. 2. Develop and implement a personal budget in order to minimize your salary from the company so that you are able to build the retained earnings of the company faster. 3. Another option is to obtain equity investors, who generally do not require personal guarantees because the nature of their investment is equity, not a loan. To do this, you will have to give up a portion of the ownership of your business. If your company has significant debt, the use of equity investors is a much safer way to finance your business. Also, when the company has a bad year, equity investors are your partners, who want to help, whereas a bank generally is focused on protecting its position. 4. Frankly, the best option is to develop and implement a plan to reduce and eliminate your company’s indebtedness. God warns of the dangers of borrowing (Proverbs 22:7), and every reference to borrowing in the Bible is a negative one. I firmly believe that the God of this universe does not need a bank in order for God to bless a business. Over the past 23 years, I have been blessed by God with the privilege of assisting approximately 200 businesses and families become debt-free both corporately and personally. Philippians 4:19 states, “And my God will meet all your needs according to his glorious riches in Christ Jesus.” Please note that it is God himself who promises to meet our needs—God does not need the bank. Previous Article Next Article More Topics Financial Deceptions Read More Freedom from Financial Anxiety Read More Investing Read More

Back to Testimonials I wish I had learned these principles sooner My knowledge and understanding of God's financial principles has profoundly changed. The bible is a wealth of information on how we should wisely think and then manage our finances. I have been so culturally accustomed to secular thinking about finances that I was not even aware of the detrimental impact that it had on my relationship with God. My involvement in this study has benefitted my personal relationship with God. As mentioned in the workshop by Tom, 'if our hearts are dominated by money and related problems, how can we love God with all our heart?' I wish I had learned these principles sooner. I would encourage everyone to take this workshop. L.G. Toronto, ON, Canada Previous Next

Back to Testimonials GLORY TO GOD IN THE HIGHEST!!!!!!! Hello Tom . It is with a heart of praise and thanksgiving to God that I write you this night. I paid off a roughly $5000+ creditor account today!!!!!! GLORY TO GOD IN THE HIGHEST!!!!!!! Truly the Lord has helped me so so so so so so much and has been merciful towards me. I began paying $500 biweekly since October 2021. God had me take your Zoom class right on time. This was a big debt and because of what I learned in your classes concerning the Word of God I decided not to take any offers to pay less of my debt but instead I desired to pay it all. I could not have actually done so without God helping me each step each day each week each month. I currently have several other loans that I am now going to begin paying off. PRAISE GOD, Tom! Your ministry has been a great blessing to me and your email responses helped me avoid taking another loan of about 40% interest just to pay off the other debt. …I need to thank you and those who labour with you in your ministry. NF Brampton ON, Canada Previous Next

Back to Testimonials Praise God for the work Thank you so much for your prompt response; much appreciated. I will be checking out the website. Praise God for the work you guys are doing for The Body of Christ. Anonymous Previous Next

Back to Freedom from Financial Anxiety Our Responsibilities and God's Promises By: Tom Copland June 15, 2020 One key to obtaining God’s peace in respect of finances is to understand and fulfill your responsibilities as a steward. Stewardship requires that we acknowledge that God owns everything and that we act accordingly. That is, we need to learn and implement God’s principles in managing the money that God has entrusted to us in accordance with his will and not our own will. (Please see my financial moment titled “Biblical Stewardship Is Temporary Management” for more information on stewardship.) Fulfilling stewardship responsibilities requires the following: 1. On a regular basis, spend quality time in prayer with God, asking God for his wisdom with respect to the money that he has entrusted to you. God has promised, “If any of you lacks wisdom, he should ask God, who gives generously to all without finding fault, and it will be given to him” (James 1:5). 2. Study and meditate on God’s Word with regard to finances regularly. “Do not let this Book of the Law depart from your mouth; meditate on it day and night, so that you may be careful to do everything written in it. Then you will be prosperous and successful” (Josh. 1:8). With more than 2,000 references to money, the Bible offers plenty of wisdom from God on finances. 3. Demonstrate your faith in God by trusting God to provide for your needs and direct you according to his will. “Trust in the LORD with all your heart and lean not on your own understanding; in all your ways acknowledge him, and he will make your paths straight.” (Prov. 3: 5, 6) On the other hand, God’s responsibilities and promises include the following: 1. God has promised that he will meet our needs if we put him first: So do not worry, saying, ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ For the pagans run after all these things, and your heavenly Father knows that you need them. But seek first his kingdom and his righteousness, and all these things will be given to you as well.” (Matt. 6: 31–33) Please note that God has promised to meet our needs, not necessarily our wants and desires. 2. God has promised to direct us—including our financial decisions—according to his will: “I will instruct you and teach you in the way you should go; I will counsel you and watch over you.” (Ps. 32:8) In summary, as a steward, it is important to focus on God, his Word, and his will. If you fulfill your responsibilities, then, regardless of your financial circumstances, you can know for certain that God will fulfill his promises and you will have God’s peace in regard to your finances. Jesus said, “ Peace I leave with you; my peace I give you. I do not give to you as the world gives. Do not let your hearts be troubled and do not be afraid” (John 14:27). Previous Article Next Article More Topics Co-Signing/Surety Read More Investing Read More Priorities Read More

Back to Priorities Treasures in Heaven By: Tom Copland June 13, 2020 Jesus said, “Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. But store PRIORITIES-TREASURES IN HEAVEN I believe that “treasures on earth” include money and material things. These are the things that we tend to prize during our lifetime but that will have no importance when we get to heaven. The apostle Paul made it clear: “For we brought nothing into the world, and we can take nothing out of it” (1 Timothy 6:7). On the other hand, “treasures in heaven” include things that will be important to us when we get to heaven. I believe that “treasures in heaven” include salvation (as one’s salvation will last for eternity) and the rewards in heaven that God promises to his faithful stewards. The concept of rewards in heaven is difficult to grasp in concrete terms because we don’t really know what heaven will be like, and scripture does not explicitly describe heavenly rewards. However, it is important to realize that what we do here on earth does have an effect on what awaits us in heaven. 1 Timothy 4:7 tells us that “godliness has value for all things, holding promise for both the present life and the life to come.” Godliness includes the way we handle our finances. We read about treasures in heaven again in 1 Timothy 6:18, 19: “Command them to do good, to be rich in good deeds, and to be generous and willing to share. In this way, they will lay up treasure for themselves as a firm foundation for the coming age, so that they may take hold of the life that is truly life.” In the Parable of the Talents, the concept of rewards is specifically linked to faithful financial stewardship. To servants who have been faithful stewards, God has promised that he will put them “in charge of many things” and that they will enjoy happiness with their master. Jesus said, “Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness!” (Matthew 25:21). As human beings, it is easy to get focused on money and material things that we can enjoy while we are here on earth. However, because money and material things are temporary, it is the wise Christian who focuses on “treasures in heaven.” Colossians 3:1, 2 states, “Since, then, you have been raised with Christ, set your hearts on things above, where Christ is seated at the right hand of God. Set your minds on things above, not on earthly things.” May I encourage you to take a few minutes right now and pray, asking God to reveal to you how you need to adjust your focus from treasures on earth to treasures in heaven. Previous Article Next Article More Topics Investing Counsel & Wisdom Stewardship Principle Read More Read More Read More

Back to Co-Signing/Surety Co-Signing for Loans By: Tom Copland June 15, 2020 Several years ago I received a phone call from a woman who indicated that the bank had just taken a significant portion of her and her husband’s retirement fund to pay off a loan for which they had cosigned with their son. Without understanding the implications, the parents had cosigned for a loan for their son and daughter-in-law. After the son and his wife had missed two or three payments, the bank lost patience, legally demanded the loan, and unilaterally used the cosigners’ money to pay it off. As well as losing a lot of money, Mom and Dad lost the good relationship they had had with their son and daughter-in-law, who felt guilty because of what happened. Invitations for dinner were turned down, and both parties at best found it awkward when they got together, because of the significant strain that cosigning had put on the relationship. In my experience, most Christians are not aware that God’s Word strongly advises against cosigning. The terminology for cosigning that is used in the book of Proverbs is to “strike hands in pledge.” It’s important to understand that at the time the book of Proverbs was written, they did not have lengthy legal documents for their agreements; a handshake was sufficient. “To strike hands in pledge” meant to shake hands in the process of making a pledge to pay a financial obligation. God warns that if you strike hands in pledge or cosign for a debt, something very negative could happen to you. Proverbs 22:26, 27 states, “Do not be a man who strikes hands in pledge or puts up security for debts; if you lack the means to pay, your very bed will be snatched from under you” (emphasis added). I believe that an appropriate contemporary analogy to having “your bed snatched out from under you” would be to lose something valuable to you, such as your home or part of your retirement fund. God’s Word in regard to cosigning is a principle, not a law. It is not a sin to cosign, but God warns that if you cosign, you may suffer negative consequences. Proverbs 17:18 is very clear regarding risks of co-signing: “A man lacking judgment strikes hands in pledge and puts up security for his neighbour.” The policy that my wife, Cathy, and I have established is to never co-sign for anyone, regardless of the circumstances. If a friend or relative has a real need, we will pray, and, if directed by God, we will give the person the money. I believe another option is to simply lend your own money to the individual for that need—with the mindset that you are prepared to forgive the loan if need be. (See Luke 6:35.) If you follow one of these two policies, you will have effectively advanced the funds to the friend or relative on a “free-will basis” rather than being forced to provide the money when the bank takes legal action against you as the cosigner because the borrower has defaulted on the loan. In short, if there is a real need, and if you give or lend the money (being willing to forgive the debt), then generally the relationship will remain intact. In addition, you will retain your own peace of mind, as you will not end up in a stressful situation where you are legally forced to pay off the debt. Previous Article Next Article More Topics Financial Deceptions Read More Freedom from Financial Anxiety Read More Investing Read More

Back to Co-Signing/Surety Personal Guarantees for a Business Loan By: Tom Copland June 15, 2020 The issue of surety (guaranteeing payment of a debt for another) arises when one takes on a financial obligation without a certain way to pay. When the owner of a company gives a personal guarantee in regard to the company’s debt, that person assumes that the company will be profitable enough and have sufficient cash flow to service the debt—without the debt falling back onto the personal guarantor. God warns us that we do not know what will happen tomorrow. James states, Now listen, you who say, “Today or tomorrow we will go to this or that city, spend a year there, carry on business and make money.” Why you do not even know what will happen tomorrow. What is your life? You are a mist that appears for a little while and then vanishes. Instead, you ought to say, “If it is the Lord’s will, we will live and do this or that. (James 4:13–15) Although it is commonplace for the owner of a company to provide a personal guarantee in respect of the company’s bank loans, the past 30 years have shown that many business people have lost their homes when their businesses incurred losses and the bank took legal action against them. God warns that if you sign surety for debts, then your “bed” (i.e., your home) may be taken from you. “Do not be one of those who shakes hands in a pledge, one of those who is surety for debts; If you have nothing with which to pay, Why should he take away your bed from under you?” (Proverbs 22:26, 27 NKJV, emphasis added) I was finally able to convince that businessman I mentioned that signing personal guarantees is inconsistent with God’s Word. As a result, he negotiated a deal with his bank by which he did not have to provide personal guarantees. From 1990 until 1995, there was a severe recession. His business became insolvent, and the bank took legal action. However, because he had not provided any personal guarantees, his personal assets were protected, and today he enjoys a good retirement. On the other hand, if he had continued to give personal guarantees, he would have been forced into personal bankruptcy and lost everything, including his home, retirement fund, etc. Avoiding surety is a biblical principle. It is not a sin to sign surety. However, God warns that if you sign surety, you may very well suffer some negative consequences. Unfortunately, over the past 30 years or so, many business people (frequently including their spouses) have personally guaranteed their company’s bank loans and lost everything when the company got into financial difficulty. In summary, God warns of the dangers of signing surety, one form of which is for a business owner to give a personal guarantee in regard to the company’s bank loans. Previous Article Next Article More Topics Financial Deceptions Read More Freedom from Financial Anxiety Read More Investing Read More

Back to Priorities Effective Ministry By: Tom Copland June 13, 2020 An individual’s ministry effectiveness will generally be significantly influenced by the biblical or non-biblical use of money. Jesus indicated that, if you are not trustworthy with money, then God will not entrust you with something of greater importance, which Christ called the “true riches. “If you have not been trustworthy in the handling worldly wealth, who will trust you with true riches?” (Luke 16:11). I believe that God’s “true riches” include a close relationship with God, God’s peace, and God’s joy. In addition, I believe that God’s “true riches” include an effective ministry that has been blessed by God. It is interesting to note that one of the requirements for an elder is that the person must not be a “lover of money” and must be able to manage one’s own family well—which, by the way, would include managing family finances in a godly fashion (1 Timothy 3:3–5). From a practical perspective, 1 Timothy 3:5 raises this question: “If anyone does not know how to manage his own family, how can he take care of God’s church?” Further, some biblical scholars interpret the “true riches” that Jesus Christ is referring to in Luke 16:11 to include spiritual responsibilities, which obviously affects one’s ministry. It is important to note that the verse preceding Luke 16:11 indicates that an individual must demonstrate faithfulness in a small amount before God will entrust him or her with a larger amount. Jesus said, “Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much.” In short, it is one’s character that determines the extent of one’s faithfulness to God, not the amount of money a person has been entrusted with. In summary, if a Christian is not faithful to God in regard to something of less importance, such as money and material things, then why would God entrust one with something of greater importance, which would include an effective ministry that has been blessed by God? I believe there is no substitute for studying and meditating on God’s Word with regard to finances. This, in conjunction with prayer, will enable you to determine God’s will for your life in regard to the money he has entrusted you with. As you implement God’s financial principles, God will provide you with his peace and joy in regard to finances as well as an effective ministry. Previous Article Next Article More Topics Investing Counsel & Wisdom Stewardship Principle Read More Read More Read More

Develop & Implement a Biblically Based Investment Strategy Back to Investing By: Tom Copland October 19, 2021 A biblically-based investment strategy should meet the following two criteria: 1. be consistent with God’s principles 2. reflect God’s specific will for your life To develop and implement an investment plan that is consistent with God’s principles, it is essential that you understand God’s investment principles. God’s Word, the Bible, provides us with a wealth of knowledge on investing. Authors such as Austin Pryor and Ron Blue have written entire books on what God has to say about investing. I have written 14 financial moments on this topic. If you would like a copy then send an email to thomas@copland-ca.com In my experience, the majority of bad investments can be avoided if you understand and apply God’s investment principles. Here are some actions the Bible warns against, which can lead to potentially bad investments. A. investing in something that you do not understand (see Proverbs 19:2) B. using a lot of debt (see Proverbs 22:7) C. making hasty decisions (see Proverbs 21:5) D. having a lack of biblical diversification (see Ecclesiastes 11:1, 2) For further details, see my four financial moments on those topics. Remember, God has admonished us to keep his Word at the forefront of our minds at all times. Joshua 1:8 states, “Do not let this Book of the Law depart from your mouth; meditate on it day and night, so that you may be careful to do everything written in it. Then you will be prosperous and successful.” In respect of the second component—that is, an investment plan that reflects God’s specific will for your life—there is no substitute for spending quality time in prayer with God at least three or four times per year, seeking the Lord’s specific direction for your life. God has promised that he will direct us if we ask in faith and trust him. Psalms 32:8 states, “I will instruct you and teach you in the way you should go; I will counsel you and watch over you.” I recommend that you document what God has instructed you to do, and carefully follow up. In the area of investing, most people tend to be “responders”; that is, they respond to sales calls, hot tips, good ideas, etc. Frequently people make decisions on a case-by-case basis rather than by developing and implementing a biblically-based investment strategy that God has personally revealed to them. Although God’s investment principles (i.e., guidelines) are the same for everyone, God’s specific will for each individual will not be the same. For example, it is possible that God will direct an entrepreneur to have a significant portion (but not all) of her or his portfolio invested in the business that the person owns and operates. Nevertheless, for these entrepreneurs, it is important to obtain some element of biblical diversification, which will require that a significant portion of the balance of the portfolio be invested in relatively safe items, such as government bonds. In summary, it is critical to develop and implement a biblically-based investment strategy that reflects God’s specific will for your life. Previous Article Next Article More Topics Freedom from Financial Anxiety Read More Priorities Read More Counsel & Wisdom Read More

Back to Financial Deceptions If I Had More Money, I Would Be Happy By: Tom Copland June 15, 2020 Many people believe the deception that money will bring happiness. Although additional income can relieve some financial pressures (if the individual or couple manage their money well), money in and of itself does not bring happiness. Money will definitely not provide joy and peace, which only comes from God. Ecclesiastes 5:10 states, “Whoever loves money never has money enough; whoever loves wealth is never satisfied with his income. This too is meaningless.” Over the years, I’ve seen many couples with significant amounts of wealth who have no peace and joy. I think of one couple who started with nothing and accumulated about $40 million worth of assets. However, their unhappiness was evident to anyone who knew them. They were always arguing with each other and with their kids and employees, and they appeared “stressed out” all the time. Certainly, there was no “peace of God, which transcends all understanding” (Philippians 4:7). Only God, through his Holy Spirit, can bring true peace and happiness. Jesus said: “But the Counselor, the Holy Spirit, whom the Father will send in my name, will teach you all things and will remind you of everything I have said to you. Peace I leave with you; my peace I give you. I do not give to you as the world gives. Do not let your hearts be troubled and do not be afraid” (John 14:26, 27, emphasis added). There are many people in North America who have significant amounts of wealth yet are frustrated, angry, weary, and unhappy. Frankly, some are even Christians who are not experiencing God’s joy and peace. Remember that “the fruit of the Spirit is love, joy, peace, patience, kindness, goodness, faithfulness, gentleness, and self-control. Against such things, there is no law (Galatians 5:22, 23, emphasis added). Jesus provides an invitation to everyone who is weary and burdened: “Come to me, all you who are weary and burdened, and I will give you rest. Take my yoke upon you and learn from me, for I am gentle and humble in heart, and you will find rest for your souls. For my yoke is easy and my burden is light” (Matthew 11:28–30, emphasis added). In summary, based upon God’s Word and 30 years’ experience of working with some very wealthy people, I’m convinced that the key to happiness is not more money but rather a close personal relationship with God. In the 15th chapter of John, Jesus called this “abiding,” which means to be connected to and in communication with God on an ongoing basis. For more information on “abiding in Christ,” I recommend the book titled Secrets of the Vine by Dr. Bruce Wilkinson (Multnomah Publishers, 2001). Previous Article Next Article More Topics The Joseph Principle Read More Co-Signing/Surety Read More Freedom from Financial Anxiety Read More

Back to Priorities Are you Pursuing God's True Riches? By: Tom Copland June 13, 2020 Jesus said, “If you have not been trustworthy in the handling worldly wealth, who will trust you with true riches? (Luke 16:11). I believe that many Christians assume that there is no connection between their spirituality and how they handle money. But in this verse, Jesus Christ is communicating that our faithfulness (or the lack thereof) in regard to money will significantly affect the extent to which God entrusts us with His “true riches.” I believe that God’s “true riches”—that is, the things that are really important to God—include the following: 1. A Close Personal Relationship with God. There is nothing more important in this life than our relationship with God. The Apostle Paul considered a relationship with Christ more valuable than everything else (Philippians 3:8). 2. God’s Peace. God has promised his peace when we are directed by His Spirit: “But the mind controlled by the Spirit is life and peace” (Romans 8:6). 3. God’s joy. God has promised us his joy when we are in His presence. Psalm 16:11 states, “In your presence is the fullness of joy” (NKJV). At first, it may be difficult to believe that faithful stewardship (or the lack thereof) with money would affect one’s relationship with God and one’s peace and joy. However, in Matthew 6:24, Jesus made it clear that money can be a serious competitor in our relationship with God: “No one can serve two masters. Either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve both God and Money.” Let me give you one common example of how our relationship with money affects our relationship with God. If an individual or couple are spending more than they earn on a monthly basis, then in due course, they will experience financial problems. Generally, people under significant financial stress will be focused on those problems, which will take up a lot of their time and energy. This will inadvertently affect their relationship with God. Jesus said, “For where your treasure is, there your heart will be also” (Matthew 6:21). In addition, the anxiety that comes from financial problems and excessive debt will generally result in a lack of peace and joy in one’s life. I’ve never met anyone who was happy about missing a mortgage payment or car loan payment. In summary, your faithful stewardship of the money that God has trusted to you will enable you to enjoy God’s “true riches”—which include a close personal relationship with God, God’s peace, and God’s joy. Previous Article Next Article More Topics Investing Counsel & Wisdom Stewardship Principle Read More Read More Read More