Posted in You and Your Money

I Just Need More Time

More time – I need more time!

How many times have we said this – in our career, in our finances, in our relationships? We think all we need is more time and that will fix everything. But this is simply not true.

Our finances go deeper than time. I always thought I needed one more paycheck, one more month, one more year and then I would get my finances in order. But I was fooling myself. Time wasn’t my problem – my stinky money habits were my problem and this was something that more time wouldn’t fix.

This was something I had to fix. I had to get fed up with my situation enough to say, “That’s it! I’ve had it! I’m not going to live like this anymore”. And as many of you know, I had that revelation sitting on my living room floor 21 years ago.

So let me ask you – and it’s just me and you here – do you think all you need is more time? Giving more time to a sinking ship doesn’t keep it from sinking. And odds are giving you more time won’t miraculously fix your finances. As a matter of fact, I’m willing to bet your credit card companies and loan companies have given you more time already. So if more time hasn’t worked, what will work?

When you get fed up enough – like I did – there are many things you can do in order to pay down your debt, build your emergency fund and build wealth. Here are some for you to consider – if you are ready, that is:

  • Spend less money – stop spending money you don’t have and lower the expenses you do have.
  • Sell stuff – we all have crap we don’t need or use anymore. Sell it all!
  • Get a side gig – or two or three. The more money you bring in the faster your debt will go down and the quicker you will build wealth.
  • Downsize – your car, your house, your lifestyle. You are not the Joneses. Quit trying to keep up with them.
  • No more debt – Everything going forward is paid for in cash. No money, no service.
  • Wheel and deal – make deals where possible with the people you owe. Do whatever it takes to knock out the debt as quickly as you can.
  • And last and most important – breathe!

This is all overwhelming – been there, done that. The calls, the mail, the burden – it’s all a bit much. The reality is you got yourself here, but as my life mantra says “I am where I am – now what?”

You are where you are – now what are you going to do about it?

Let Debbi and her team help you. Visit us at www.abcsofpersonalfinance.com. You can do it!

Posted in Building Wealth, Debt Free, Financial Freedom, Saving for Your Future, Winning with Your Money, You and Your Money

When It Rains, It Pours

There is one thing I can guarantee you – no matter where you live, it is going to rain.  Maybe just one day a year, but it will rain.  When it rains on you, are you prepared with an umbrella or are you going to get soaked?

The same way it will rain on you literally at some point this year, it will also rain on you figuratively.  Something unexpected is going to happen.  An emergency is going to happen.  Life is going to happen.  Do you have an umbrella or are you going to get soaked?

Right now, many people in this country are wishing they had an umbrella – even a small one.  It is raining on them right now.  They are not getting paid because of a situation that they couldn’t control.  Some were prepared, but many were not.  Some will be able to continue to pay their bills and put food on the table, but many will not.  This is just an example of what happens everyday in this country and in our lives.  Life happens – some things we know might happen and some things we have no clue are going to happen.  This is why an emergency fund (umbrella) is so important.  If really should be the number one priority in your finances.

So how big should your umbrella be in order to not get soaked the next time it rains.  Ideally, you want to have one year of expenses set aside.  But start somewhere, even $50. And just keep building it.  You want to get $1000 to $1500 as soon as you can.  This way you can handle a sprinkle if it comes through.  Next, set aside 3-6 months of expenses.  This will cover a regular rainstorm.  And then save up to one year of expenses.  This size umbrella will cover any storm that comes your way – sprinkle to hurricane.

It is going to rain this year.  Are you ready?  Today is the day to start.  Whether you are starting at the bottom, or building what you have into a bigger umbrella, today is the day.  As people find out each and every day, you never know when a storm is coming.  The best thing you can do is be prepared.  Having an umbrella can be the difference in the rain being just a little nuisance and it being a drowning storm.

Listen to Debbi’s podcast on this subject and so much more.  

 

Posted in Building Wealth, Debt Free, Financial Freedom, Winning with Your Money, You and Your Money

I’ve Fallen and I Can’t Get Up

We all have seen or heard this saying before.  Every time I hear it, I picture the elderly lady laying on the floor, alone and helpless.  Until she hits the button and asks for help.  Do you feel like you have fallen and can’t get up?  Do you think you’ve made mistakes in your finances, your career, your relationships, and your life that are so big, you are stuck where you are?

That is simply not true.

Yesterday, like most Sundays, I was sitting around in my pjs, relaxing and watching football.  I happen to be watching the Washington vs. Atlanta game since my Eagles had a bye week.  For the last several years, Atlanta has made it to the post season.  They have been one of the top teams.  However, this year, just a few weeks ago, they found themselves with a record of 1-4.  This record is not good when you have Super Bowl dreams.  Basically, the Falcons had fallen.  And the question everyone was asking was would they get up.

The team answered that question with a resounding “Yes!”.

The announcers were talking about what Coach Quinn had done to rally his team out of their slump.  They talked about how members on the team stepped up and said this is not okay.  They begin making changes – what they had been doing wasn’t working.  They came up with a new plan, a new way and in the process, found success.  Their record after this week is 4-4 – they beat Washington (who is leading their division).  And Julio Jones, one of their key receivers, made a touchdown after 343 days.

So what can we take from all this jibber jabber?  We all fall – even the best fall.  The key to success and winning is whether you decide you get up or keep laying there.  When the lady fell, she reached out for help.  When Atlanta fell, they developed a new plan.

So back to the questions I asked in the beginning – have you fallen?  What are you going to do about it?  Are you going to get up or just lie there?  Are you going to develop a new plan or just keep doing the same thing over and over?  Are you going to ask for help or just stay where you are?

The decision is yours to make.  When I found myself over $200,000 in debt, a single mom, making $10,000 a year, I had these same choices.  I decided to get up.  I decided to develop a new game plan.  I decided to ask for help.  And in doing so, I found success.  Now, what are you going to do?

If you need to press the help button, simply click here and reach out to Debbi and her team.  They have developed products, books and services to serve you anyway that they can.  Personal finance is personal and Debbi and her team are here to meet you where you are and help you reach all of your goals and dreams!