One day I went to a local drug store scanning the aisles for some shaving products and noticed a woman I had not seen in years. I said, “How are you doing?” “Not so well, I feel a little under the weather,” she replied. “Why don’t you take off work for the day,” I could see that she was not feeling well. Her eyes were puffy, as she spoke she sounded like she had a nasal clog, and her posture was as though she was extremely weak. “Go home and get some rest,” I said. Her reply was shocking, “I would, but I have to go to work because I have too many bills to pay.”
People who are forced into parsimony because of the loss of a job, divorce, death in the family or their debt is out of control usually experience the common financial stress syndrome. This debt syndrome can often lead to feelings of insecurity, anxiety, anger or even depression. It results in a hopelessness that perpetuates poor money management decisions that can lead to a vicious cycle of fear and panic. A person under such financial stress can be tempted to commit suicide, thinking that this will be the answer to ending it all. Instead, their families will have to face the debt they left behind, including the anxiety, grief, and unanswered questions of why. If you notice someone with symptoms like the ones previously mentioned, reach out to them with comfort and reassurance that you will be with them as they tackle their debt problem.
According to the United States Federal Reserve, 45 percent of households in America spend more each month than what they earn. Keep in mind that this figure is a conservative number and can most likely be higher. This cycle of having more ‘month’ at the end of your money has created a debt problem for many American families, who are often unable to keep their heads above water. Getting out of debt, or even managing it, is difficult. It requires financial discipline and patience. Nevertheless, whom do you turn to for help? Of course, there is credit card debt help, Christian debt help, mortgage help, families in financial crisis help, debt free government help, debt consolidation help, and the list goes on.
I do not believe that people have a shortage of information concerning debt; what people lack is a strong relentless desire to become disciplined, to not only get out of debt, but stay out of debt. Because after they have read all the booklets on how to get out of debt, hire a debt consolidation company to assist them in getting out of debt, the larger percentage of people will regress back into the same ruthless debt cycle.
A financial coach can help you first acknowledge your weaknesses and then point you in the direction of your strength. People should volunteer to be tutored on how to help themselves. Before a person usually experiences having a shortage of money to pay their bills, it is preceded by the lack of discipline to control their spending habits. I believe that every person should incorporate their own system of checks and balances. Make yourself accountable to someone else other than you. If you are not married, but you have children, let them in on the checks and balances system so that they can help you. They may not keep you from spending money ridiculously, but a word of reminder from them would help you consider the consequences.
I frequently say, “Readers are leaders and leaders are readers.” I strongly believe this statement; therefore, I have taken the time to recommend reading material that I believe will greatly benefit your life and business endeavors. Click the images to see more information or to order the books from Amazon.com.
Come let’s talk some more about this, comment your thoughts below.