Principle of Prompt Payments

Respected for his wisdom, Solomon said in Ecclesiastes 3:1 that “there is an appointed time for everything.” This is true for us as we fulfill our responsibilities as faithful managers of God’s money. The principle of prompt payment is applicable in a family or a business environment.
This principle is not embraced by the world. The world view tries to delay payment for goods and services to the due date and beyond if possible. It is a mark of pride to be known as a slow payer.
Proverbs 3:27-28 encourages us to pay those to whom we owe for goods and services today and not put them off till tomorrow.
In Proverbs 22:1 we are told that our good name is worth more than silver and gold. Prompt payment enhances our good name. What does your payment history reveal about you or your company?
An added benefit from incorporating this principle into our money management is the discipline that it builds into our personal and business lives. If I know that I am committed to prompt payment, I will be less likely to presume on the future. I will count the cost before engaging in impulse buying.
I will plan ahead and make sure I will have ample funds to cover significant reoccurring needs. This will enhance my skills in both budgeting and strategic planning.
To meet unexpected emergencies I will plan to build and maintain an emergency fund. Prompt payment for these unexpected events will replace the panic attacks of the past.
A conviction to make prompt payments an integral part of my life is a wise step in the right direction. My thoughts, actions, and attitudes will be changed for the better.