A Cowboy’s Faith: Payoff will eliminate debt – Osage County Online | Osage County News

A Cowboy’s Faith: Payoff will eliminate debt

A Cowboy's Faith: Click to read more from Frank J. Buchman.Incomprehensible the volume of scam calls received in one day, let alone a week and month.

They are all aggravating with most promising something that is too good to be true.

Most upsetting and biggest rip-off to the economy is when the caller touts an opportunity to “eliminate your credit card debt.”

The only way to do that or abolish any financial obligation is to pay it off with hard earned money.

When a commitment is made to buy anything, it is the purchaser’s responsibility to pay for the acquisition.

Never have forgotten the message of a field day speaker: “You can’t eat your cake and have it too.” That applies to everything in life of material value.

The nation’s economy cannot continue to operate positively if people don’t meet their personal financial obligations.

Everything has a cost, and somebody is taking a loss when it is not paid for. It is impossible to operate any business without positive revenue for continued economic cash flow.

Credit accounts are a generous way for owners to assist buyers in extending time for payment. But, when payment is not immediate, interest on the purchase continues to mount, decreasing profits for the sales firm.

Seemingly, many people don’t understand that debts must be paid and jump on promises of eliminating monetary responsibility without payment. It sounds good on the forefront frequently even creating optimism for a person to “be out of debt.”

Most people do not want to be in debt, but the only honest way out is to pay the bill. Generally, that is far from easy and requires lots of time and dedication to do what’s right.

Interest added on an unpaid debt increases the amount owed but is only fair to the profitable businessperson. They have bills to pay and must be paid to continue operating successfully, providing a service or product for others.

Growing up in the grocery business, several loyal customers ran up large credit accounts. With very few exceptions, the major tabs were paid off.

However, sometimes that took an extended time, such as waiting until the farmer sold cattle or grain annually. It was not an ideal situation for the grocer but understood by both the seller and the buyer.

Reminded of Romans 13:7: “Pay to all what is owed to them.”

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

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