Continuing our series taken from a business article on ten mistakes not to make we look at:
#3 Terrible Money Management
Rehoboam, the son of Solomon, provides an excellent example of bad management, and arguably of terrible money management. Rehoboam grew up as the spoiled son of an extravagant father. When his father died, Rehoboam became heir to Solomon's empire. His subjects came to him asking for relief from the heavy tax burden that they bore (1 Kings 12:4). The old men advised Rehoboam to listen to the people (1 Kings 12:6-7), but the young men advised him to live it up on luxuries that others had earned (1 Kings 12:10-11). Rehoboam rejected the advice of the old timers and listened instead to the young bucks (1 Kings 12:8). As a result, the ten tribes revolted against him and he lost the empire so carefully built up by his forefathers. He faced the prospect of greatly diminished revenues. This did not become clear to him until the tax-collector he sent to collect those revenues was stoned by the people to whom the tax-collector was sent (1 Kings 12:18). A move that cuts off one's prospect of future revenues is arguably a terrible management mistake.