A Cowboy’s Faith: Statement settlement is essential

A Cowboy's Faith: Click to read more from Frank J. Buchman.“Nobody likes to pay their bills.”

That’s not completely true, because the majority of people who buy something expect to remunerate for it.

Sadly there are exceptions when there is never intention to reimburse for what is purchased. In those cases, the buyer still ends up having to compensate. Even if it goes into drawn out proceedings, ultimately lockup.

Quite the opposite realm is those who eagerly pay whatever debt is claimed. Mom was that way; the second a bill arrived, she made payment. There were certain grocery store customers who were slow paying charge accounts, and she didn’t want to be like that.

Immediate reimbursement for statements is commendable, but it may not always be the smartest thing either. One must make certain what has been invoiced was actually ordered.

It’s of more concern now than earlier times with unlawful shenanigans increasingly prevalent in today’s mobile social communications.

Still, bills must be paid or somebody is stealing and another is losing. Plain and simple economics whatever the right definition that’s definitely the way it is.

From another direction, the statement must be remunerated in a most timely fashion or the debt continues climbing. An important fact often not considered and sometimes even belligerently denied.

This hits home very hard. Three decades ago the elevator man denied feed delivery because the previous month’s bill wasn’t settled. Blood boiled, spouting harsh unkind verbosities because with certainty there were other co-op patrons with much longer past due statements.

Not a followed or reputable editorial writer, opinion was still publicly aired in a high circulation publication. Immediate conflicting response came from a most common sense, successful financier. “Credit is a courtesy and bills must be paid on time.”

Stance of writing had been that other farmers were extended long term credit as Mom had done for her customers. That kind practice was certainly not sound business management, and definitely had to be taken offense against.

Businesses have operating costs, and are paying interest in one form or another on their investments. Anytime a bill is not paid immediately, it becomes a financial liability. The reason interest is added to past due accounts.

Fact today perhaps even more so than when that naïve opinion was wrongly expressed.

Reminded of Romans 13:7: “Fulfill your obligations, pay your bills, respect businesses.”


030615-franksmug2Frank J. Buchman is a lifelong rancher from Alta Vista, a lifetime newspaper writer, syndicated national ag writer and a radio marketing consultant. He writes a weekly column to share A Cowboy’s Faith.

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