So! We need to talk.
We need to talk about a fad that is currently sweeping through some of my circles on social media. I have noticed it mostly on Facebook and Whatsapp in particular and it seems to be sucking many people in. What is it? The “Blessing Loom”.
Some of my readers won’t like this, but you need to hear this from someone and if you haven’t been willing to receive it from others, I hope you can trust me enough to read to the end.
A friend recently shared his concern regarding the “Blessing Loom” with these words –
“I just feel that our community needs more education on things like home ownership, being debt free, owning a business, creating opportunities for your community and not just “double your 💰”. Maybe I’m just out of touch.”
I don’t think you’re out of touch Tristan, I agree.
There are legitimate ways to become debt-free, build wealth, create opportunities, run PROFITABLE businesses without taking advantage of anyone or making false claims of quick cash (false because it will only ever work for a few participants and never for all- simple math).
As a life, business and debt-freedom coach, I wish – I wish – half of those who are currently or have previously participated in “the Loom” knew how to build wealth without falling for things like these.
For example, this week alone, my business helped so many people save more than the $980 being offered through “the Loom”, simply by negotiating their car insurance down legitimately. In other words a ONE hour conversation put an extra $1,000+ in the pockets of so many clients this week.
Yet, some of the participants in the Blessing Loom may see such an opportunity and respond with – “I don’t have the time”, or “it can’t be true”. But we are willing to believe and sear our consciences for that same amount of money when the premise sold to us is, “just put $135 in and get $1080 out”.
The number of Christians falling for this also tells me that financial education is GRAVELY lacking in the church.
And this may not be the pastors’ faults. It just may be because the people are unwilling to learn. Most of us just want a “miracle”. Aka. Easy money. Aka I exchange my $135 and get $1080. And too many are unwilling to commit the time and sweat it takes to build godly lasting wealth for the long-term.
But we are capable of so. much. more.
Wealth from get-rich-quick schemes quickly disappears; wealth from hard work grows over time.
Proverbs 13:11 (NLT)
With the amount of time people have invested this past week alone into talking others into joining “the Loom”, they could’ve finished reading a book like “The Automatic Millionaire” which teaches legit strategies for wealth-building.
Instead of participating we can prioritize using that same amount of time to invest into ourselves through rigorous self-education or get an expert to help us. We can save or make that same amount of money in a way that is completely integral. We can invest the $135 in buying books or enrolling in a course that can improve our financial understanding like this one.
Please note – this is not a generalization of the motive of every participant in the Blessing Loom. I’m sure some simply joined in the excitement of the moment; but even that stresses the need for us to do our due diligence before investing our money – which further highlights the need for financial education.
For those who believe there is no point getting involved in this conversation. That we should just “leave people to make their own decision about it”, here is my response. If I was being approached to participate in something that was potentially illegal, I would rather my real friends alert me to that fact than smile at me and say “good on you, at least you’re making money!”
So instead of getting defensive about the points listed here, practice what I spoke about in this blog and evaluate yourself.
- What is my motive for joining the Loom?
- Knowing what I know about “the Loom”, is it a fair opportunity for everyone I am bringing to the table, or will it leave some with nothing?
- Is there a better use of my time in earning extra money?
- Are there ways that I am wasting the money that I am currently earning which is what is leaving me consistently in need?
I could keep going but I’ll stop.
My prayer for all of us is that the Lord would give us wisdom and help us to say no to temptation.
That He would keep me. Keep us. From the love of money. In Jesus’ name, amen.
If you are looking to have extra cash each month, become debt free, run a profitable business the real way, or just to get unstuck financially, send an email to toyin @ toyindada .com (without the spaces). I am willing to assist if possible and if I cannot, refer you to someone who can.
Leave a comment below, let me know what you think of what is happening – for or against the blessing loom as I am open to understanding more about it if you have a legitimate defence for it (outside of just saying “I cashed out so it works!”)