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Archive for March, 2009

What To Do When You Are In A HUGE Financial Mess

March 2nd, 2009 at 10:23 am

I have met a ton of people who are experiencing the harshness of the following two key items:

* No Plan, No Savings, Piles of Debt
* Loss/Reduction of Income

Here is what you can do when faced with this situation.

1. Cry. It is OK to be regretful for awhile!
2. Take time to prioritize who will get paid and who will not get paid. (Read the post I wrote HERE about priority order.)
3. Write out your goals. Make sure they are SMART.
4. Prepare a written spending plan (even if you know that it will not balance to Exactly Zero). This will allow you to fully understand your "Go Get This!" number.
5. Take ACTION!

There can be a tendency to just focus on #1 and hope for everything to just work itself out. Usually, this is not the case. Recovering from this type of issue is emotional and gut-wrenching, but it requires one to take action.

You CAN recover from the mess!

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How Many Times Must I Hear

March 1st, 2009 at 03:40 pm

I heard several times that Crocs were great shoes. I finally heard it enough that I bought a pair. They are great! So great that I wear them everywhere. Including to Iowa in January in snow. When I finally tried out a pair, I thought, "Why didn't I listen and take action earlier?"

I heard several times that iPods were incredible. I finally heard it enough that I bought one. It is incredible! So great that I wear it while running, driving, and sitting on an airplane. When I finally tried out a pair, I thought, "Why didn't I listen and take action earlier?"

"Why didn't I listen and take action earlier?" This is a question I have asked myself many times after discovering a new thing that enhanced my life greatly.

It applies to my finances. When I first prepared a written spending plan before the month and the money arrived, I asked myself this key question.

I wonder how many more things I should be listening to and taking action earlier?

I challenge you to ask yourself the same question.

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