Posts Tagged ‘Money issues’
Maybe you have become really clear of the life you want for yourself and you are ready to take steps to make it happen. Or maybe you see how the life you have is eroding with each overdrawn account, lack of savings and by living paycheck to paycheck. Are you ready to get serious about ending your money problems?
Signs we’re ready to get answers and end our problems with money are when we are willing to…
1 Listen and learn from others how to get out of debt, save more, invest wisely, and earn more money.
Everywhere I go I run in to people rolling their eyes, unable to look me in the eye, and shrugging their shoulders, as if they know exactly what I’m talking about when I discuss our relationship with money.
A few years ago, The Arizona Republic (the biggest newspaper in the Phoenix metro area) did a page and a half article on me and my work. It was called “Help for the Financially Spent.” The article had illustrations, photos, testimonials, sidebars, and a quiz.
I was thinking the other day how easy it is to put money on a pedestal and treat it as the cure for any problem. If we had money, we think, we could achieve our dreams, mend our relationships, improve our appearance, and essentially get everything we always wanted.
Here's Some Symptoms We Worship Money...
- Make decisions based on how much money something costs or how much money it will make us.
- Put most, if not all, our attention on ways to get more of it.
- Set money goals -- how much we want and by what date.
Debt can be a vicious cycle. We start the debt cycle by finding a way to JUSTIFY adding on new debt. (See the previous blog to find out more details about What Causes a Debt Cycle?)
Here are 11 Symptoms You’re Stuck in a Debt Cycle…
- Have little or no savings, investments, or assets.
- Add new debt right after one debt is paid off.
- Have several credit cards.
- Borrow money to pay off credit cards.
- Put very little money down and set up a longer repayment period to reduce the monthly amount.
Debt can be a vicious cycle. We start the debt cycle by finding a way to JUSTIFY adding on new debt.
Ways we JUSTIFY Adding on New Debt-
1 To rectify our past mistakes.
(Example: You got in a fender bender by not paying attention and you need to fix your bumper.)
2 To reward ourselves.
(Example: You’ve lost weight so you deserve to buy a new outfit.)
3 To get rid of the old debt.
(Example: Taking out a second mortgage to pay off credit cards.)
Albert Einstein said, “The significant problems we have cannot be solved at the same level of thinking with which we created them.” In other words, if money is the problem, throwing more money at it is not the solution. Another example is, we cannot get out of debt by taking on more loans. We’re just simply delaying the answer.
Not only is our economy changing at record speed, so is our way of thinking. As the world alters around us, out of necessity, so do our desires and the way we go about achieving them. As most everyone knows, the last few months have seen profound shifts in every aspect of our society from politics to finances and careers to technological advances. Because of this, our thought trends have taken off in a new direction.
Here are some of the most recent trends:
- Trying to live within your means
It’s one of those mysteries of life, a question everyone has asked in their adult life: “Where did all the money go?” Especially now with finances so tight, it seems your bank account is shrinking at an alarming rate.
And, as that balance gets smaller, the bills seem to come in faster and faster. You never have quite enough to cover everything, and then – WHAM! One of those surprise expenses hits you and sucks away all the savings you have left.
It’s been a bad day. The kids were fighting and missed the bus, the car got dinged in the parking lot, the boss yelled at you for being late again, you realize you left your lunch on the counter, and just then your computer crashes. What else could go wrong? You need something to lift your spirits. Then, you see that just perfect… whatever… Out comes the credit card and IT is yours – ah! Now you feel better, right?