Tuesday, April 26, 2011

Blood, Sweat & Tears


I was unaware that April is “National Financial Literacy Month”. Actually, I was completely unaware that such a designation even existed. As we are in the business of assisting consumers and small businesses, I feel some responsibility to make some comments!

As we approach the spring and summer months, most families take this opportunity to do some “spring cleaning” – a time when we put away all of our winter clothes, pull the couch away from the wall and vacuum all of the dust “bunnies” and do a deep cleansing of each nook and cranny. Have you ever thought about doing this same thing with your finances?

Right about now is when you will stop reading this post and begin to check out. You have tried this a thousand times and it never works – right? The job is just too overwhelming and it never works. I never have enough money at the end of the month and I am destined to live paycheck to paycheck. We hear it all of the time from our clients. Here are three steps that you can take to help move you off of this starting point and BEGIN the process of gaining control of your money instead of your money having control of you:

1) Doing Something Different – You have heard Einstein’s definition of Insanity – right? “Always doing the same thing and expecting different results”. Make a REAL commitment to doing things differently. Have you identified the “leak” in your checkbook? For most families, it is spending money at restaurants and eating out. Make a commitment to spend a little more time at the grocery store and eat at home four more evenings per month. This little change will make a huge difference in your monthly expenses. Do it!

2) Dump the Negative Attitude – You have tried this before and it didn’t work – right? It never works for you. You will always live paycheck to paycheck. It is your destiny! It is true that 70% of all Americans live paycheck to paycheck. It is time to break from the norm and break away from that type of living. Establish a PLAN. Make a budget and live to it – religiously! Be patient because it normally takes a family about 90 days to figure out a real working lifestyle budget so you WILL go through some pains and you WILL make some mistakes. Don’t give up. Stick with it and you WILL see results.

3) Get Some Help – In most cases, you are not able to do this whole process by yourself. It took you months – even years – to get into this situation and you will not get out of it overnight. Find someone who can give you some direction and hold you accountable to your plan. Be wary of those “credit counseling” services that want you to stop making your payments. Those services only shipwreck your credit scores and lengthen your time of recovery. Do your research and dig around to find the “right” service to meet your needs.

The Sacks Group has created a program called “The Compass Project” that is designed to teach and train families on how to establish a plan and to live within their means. The program requires some “blood, sweat and tears” from all family members but IT WORKS! Contact us today for some references and let us know how we can help you. We all know a family that is hurting right now and are struggling with their personal finances. Grab them by the hand and provide them with some guidance and direction. We are available. We understand what you/they are going through and can help!

(636) 949-9949 – Office
www.BudgetingYourFinances.net

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