| Have you experienced a divorce, bankruptcy, | | | | couldn't resist the opportunity to save a few bucks |
| foreclosure, or overwhelming debt? Then you are not | | | | even though they did not pay their monthly credit card |
| alone. Many families today find themselves in what | | | | bills. Developing better money management skills is not |
| seems to be a losing battle. The effects of rising | | | | easy because old habits die hard. But it is an essential |
| energy cost, college tuition, and just the overall cost of | | | | part of rebuilding your financial future. |
| living is enough to drive anyone straight to the "poor" | | | | The way that you develop patience and discipline is: |
| house - if they are not careful. Becoming more | | | | Get control over your emotions. Yes, you may be |
| proactive in your finances is the best way to fight | | | | experiencing a hard time, and yes you may be |
| back during these challenging times. The current | | | | suffering greatly but don't allow that to justify |
| economic crisis has revealed that too many have | | | | irresponsible behavior. Your ability to recognize when |
| attempted to take a shortcut toward achieving | | | | your emotions are driving your decision process |
| financial success. Many families have been struggling | | | | requires that you be real with yourself. For example, |
| to make ends meet long before the economic | | | | are you buying those shoes out of true "need" or are |
| meltdown. The average person spends more time | | | | you buying them because you want to make yourself |
| planning their summer vacation than they do planning | | | | feel better? |
| their financial future. Money is a very emotional subject, | | | | The third step is: Learn the principle of delayed |
| which is why people tend to shy away from the very | | | | gratification. You must learn to tell yourself "No, not |
| thought of balancing their checkbooks. If you plan to | | | | today." You can find less expensive ways to fill your |
| overcome the current economic crisis you must be | | | | emotional void. Don't allow your emotions to get you |
| willing to face your challenges head on and avoid the | | | | into debt or cause you to ignore your finances. You |
| temptation of burying your head in the sand. | | | | can only avoid your financial monster for so long |
| A full recovery will require patience and discipline, as | | | | before it begins to infiltrate every area of your life. This |
| well as your total participation and commitment. | | | | will only lead to a cycle of frustration, anxiety and |
| Unfortunately, the American culture has abandoned | | | | depression. |
| this old fashioned advice. We live in a microwave | | | | If you want to make an honest effort in becoming |
| society and we want what we want now! The reality | | | | more pro-active in your finances then you must do the |
| of the situation is that there are no quick fixes for | | | | following: |
| either our global or personal economic woes. | | | | Develop a vision for your life. What does your life look |
| The first step in financial recovery is: Admit that you | | | | like once you've achieved financial success? |
| have a problem, and then assess the damage. Ask | | | | Get control over your emotions by creating boundaries. |
| yourself the question, are you making the best financial | | | | Learn how to create an effective working budget. |
| decisions to facilitate long term success? Let me | | | | Rebuild your credit. Check your report for inaccuracies, |
| emphasize, I am not only referring to how much | | | | and begin to establish good credit by possibly |
| money you contribute to your 401K or IRA. I am also | | | | establishing a new credit line or just learning to pay |
| suggesting that you reevaluate the choices you make | | | | your monthly bills on time. Take time out of your "busy" |
| in your everyday lives. For example, many people | | | | schedule to deal with your finances. You should never |
| have made the choice to go on a vacation without | | | | be too busy to open up the mail, balance the checking |
| first meeting all their financial obligations, or to purchase | | | | account, or track your expenses. |
| a designer handbag that is on sale because they | | | | |