photo courtesy davidm69
I’ve noticed a common theme among many people that I have met with regarding personal finance. Many of them seem like their ready to make a change and get out of debt. They’ve taken the time to seek me out and to fill out some basic information about their financial situation. It takes a lot just to overcome that first hurdle. Many people never come to that point. They’re too embarrassed or too proud to seek out help.
As we go through the initial consultation though, things begin to change. We begin to look at their situation and discuss some potential things they may need to do to get out of debt and get their finances back on track. Maybe it’s selling a new car and purchasing something older with cash in order to eliminate a payment and reduce the cost of taxes and insurance. Maybe it’s deciding to buy less of a house than you really wanted so that you don’t end up deeply in debt with no way to pay. Maybe it’s waiting and saving up cash for that new flat panel TV instead of running over to the rent a center and paying 3 times as much for it on payments.
Whatever the hurdle, it seems to stall them in their tracks. They suddenly aren’t as interested in talking about solutions. They decide not to follow up and commit to an action plan. Many see bankruptcy as an easier solution. It gives that instant satisfaction although the long term consequences are much more severe.
I’m not sure what people are expecting when they come to me. I don’t have access to some secret magic money tree. I don’t know of some mysterious benefactors that are going to pay off all your debts and allow you to continue to live beyond your means.
It’s going to take work. It’s going to take sacrifice. But in the end, the rewards are so great. You will have accomplished something significant. You will have peace in your finances and a knowledge of how to succeed in the future. If you’re ready to do this then call me. We can work out a plan for you. If you’re looking for an easy out, call that guy on the late night infomercial. Apparently he knows where that magic money tree is.