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  • William T. Howe Ph.D.

January 30, 2023

The Bible Edge

Everyone needs an Edge, Believers can have the Bible Edge

Luke 14:28

For which of you, intending to build a tower, sitteth not down first, and counteth the cost, whether he have sufficient to finish it?

Hopefully, none. Counting the cost before an endeavor is commenced is like the foundation of a building. Without a foundation no building will stand for long, likewise without counting the cost before beginning anything will most likely result in failure. One of the major reasons for businesses failing is that they are undercapitalized. Meaning, among other things, someone, somewhere, and somehow didn’t count the true and real costs.

Here is a rule of thumb for financial concerns. A rule that should be considered before any purchase or action that involves money is concerned. Many have said this, probably Paul Harvey is the most famous to quote this saying. It is an edge, an edge that finds its roots in Biblical teaching. Here it is, you’ve heard it before: “When your outgo exceeds your income, your upkeep will become your downfall.” Basically, it means to live within your means. Count the cost and if there is not sufficient capital to finish, don’t start.

This simple Bible Edge about money is overlooked so often. It’s easy to do. One of the reasons is that we really do not understand the concept of “opportunity cost”. Meaning, if a person has $100 to spend on one thing, they cannot spend it on another also. Upon spending the $100 on that one thing, another thing cannot be purchased. Let’s say your vehicle needs fuel, and you would like to have a fancy dinner in a nice restaurant. Both cost $100. The cost of purchasing fuel is $100 plus not having a nice dinner. The opportunity cost is greater than $100. But you need and want both. Too often credit will be used to purchase the thing that you cannot afford which being compounded will lead to greater costs and sacrifices down the road.

So, count the real cost, consider the capital on hand, and examine opportunity cost. Doing so may save embarrassment at the least and heartache coupled with failure at the worst. The financial health of a business, a home, or a church is not so much based on what is spent. But largely on what is not spent. Not spent because the cost was counted and upon examination that cost was greater than could be afforded.

William Howe, Ph.D.

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