Facing Financial Trouble
It’s scary that anyone can face mountains of debt and even loose their home. This is especially possible in today’s economic state. Therefore, I started this blog in hopes to reach out and help those struggling with their finances and inspire those with strong finances to offer up advice.
So many Americans are being laid off and loosing their jobs and security. I have watched my sister’s boyfriend, a welder by profession struggle to find and keep a job due to lack of need. He’ll find a position and work a few months, but then his skills are no longer needed and he finds himself on unemployment again. It is a frustrating cycle. There are months when he and my sister can not afford to pay their electric bill or phone bill. It’s tough because, my sister does have a steady job as a store manager. However, in today’s world most households need two paychecks to survive. Even the most successful people need financial advice and help. There is no shame in that.
For many, it is just the matter of simply being able to manage their finances better. I fit into this category. I am too quick to spend. Luckily, though my husband keeps me on track since he has a difficult time letting go of money. In this situation, Americans need to choose a realistic budget for themselves and stick to it. This is what my husband and I are working on. When I shop, I allow myself to spend a certain amount of money and not allow myself to spend more. I usually try to only get what I need and once in a while, I can buy myself a treat as long as it fits within the budget. I have also found that a good motivator for saving is to set goals. For instance, you can set a goal to save $500 at the end of the month. This helps keep me from digging into my savings account to buy something I desire, but don’t need. You can also motivate yourself to save money by saving toward something you really want. For example, a vacation to a dream location. You can give yourself a set amount of time and a set amount of money needed and work to save that amount. If you are tempted to take some of the money out to buy something remind yourself about the trip you are saving for. If you think that ten dollars here and ten dollars there is no big deal, then you are only fooling yourself. The ten here and the ten there adds up quickly and before you know it you have spent all the money you worked hard to save.
I realize that it is easy to get into trouble with debt. Credit cards seem like free money, but if they are used that way, they can cause a boat load of debt. Remember, credit cards need to be paid back. I found myself in trouble with credit card debt more than once. Remember, I am an impulsive shopper. What I have done to rescue myself is lock my cards up in a safe and place the safe in a location in my home where it is difficult to retrieve it. This way, I don’t want to get my credit cards out because, it is too much of a hassle.
However, sometimes debt can get so out of hand that you end up being thousands and thousands of dollars in debt. The scary thing is that this is easy to do. For instance, you may have lost your job and end up maxing out the credit cards to get by. You many also have school loans, medical bills, etc. It all adds up. Then, what do you do? Well, I can help those of you in this situation. I work for American Business Direct and the company provides assistance to relieve debt and help home owners facing foreclosure save their homes. You can receive FREE information by checking out my website: http://www.mcfinanceinfo.americanbusinessdirect.comThere is nothing to purchase. Please, feel free to comment and offer advice on overcoming debt.
The Most Important Financial Seed
Understanding good money management is a lot like watching young children learn to play T-ball. Often times, until the kids learn the basics of the game their approach is a little haphazard and interesting to say the least. Having played the game several times you get a chuckle when you see the kids run to third base instead of first base, put their mitt on the wrong hand, or try to swing the bat with a helmet that’s too large for their head and overshadowing their eyes. Eventually they grow to understand the game, develop their catching and throwing abilities, and grow into their helmets, dramatically improving their ability to see and make contact with the ball. Well it’s no different with good money management skills. Until you learn the basics you find yourself a little haphazard and interesting in your own approach. Instead of building a cash reserve, you’ve made purchases that could have been put off. You’re paying interest on credit card debt instead of paying yourself and you’ve accumulated some financial habits that are a little big for your current income and make it hard to see where your financial future is going.
For many of us, our parents helped us get started in T-ball by signing us with a local team. Interestingly, many of us did not have this same benefit with regard to developing our money management skills. There were no local, organized teams to help you develop your financial skills. You didn’t have a financial coach teaching you why you need to save first, how to set realistic financial goals, to be disciplined with your budgeting, and the importance of getting back up after you financially strike out.
While we didn’t have those things in the past, today you have the opportunity to develop your financial skills through reading, seminars and workshops, and through various financial professionals. If you’re interested in learning to develop personal skills, gain financial education, and to manage your financial behaviors, then I believe you are in the right place.