FOR a lot of people, financial concerns can be their number one cause of stress. But worrying without acting doesn’t really solve anything. If you feel that your finances are out of whack, it’s time to take charge and to hold yourself accountable for the results. Here are two steps that may help you reduce your money stress:
(1) Be prepared: You can’t spend more than you earn and then complain how unfair it is that there is never enough no matter how hard you work. Keep in mind that life happens to all of us and financial challenges will always come, sometimes when you least expect them. I think the key to surviving the tough financial times is to always be prepared for them.
As I tell my clients all the time, it is not a matter of “if”; it’s a matter of “when” the financial storms will come. Let me ask you this: How prepared are you financially should there be even just a temporary disruption in your income? I know that one big reason why people can’t save is due to the fact that they can’t even pay their debts every month, so how can they even think about saving? If this describes you, find a way to reduce or eliminate your debts as quickly as possible.
(2) Think before you spend: The decisions you make today can impact your life not only in the months to come, but possibly in the years to come. When my wife and I got married 25 years ago, we didn’t have any money to buy furniture for our apartment so we ended buying a lot of what we needed on credit.
About 5 years later, long after the furniture was all worn out and we had to donate them to the Salvation Army, we were still paying the money that we borrowed! Isn’t that crazy?? The balances were barely going down with the outrageous interest rates that the creditors were charging. That was a painful experience for us but we learned not to do it ever again.
Before spending your hard-earned money or applying for credit to purchase something, ask yourself these questions: Do I really need it? How much am I willing to sacrifice in order to make this purchase and what will the impact be on my overall financial health? See, a lot of people spend their money mindlessly without thinking of the long-term consequences of their actions. One wrong decision can cause you and your family to suffer in ways that you can’t imagine.
If you are under a lot of financial stress and don’t know what to do, I’d like to help you figure out the best way to get your finances back in order again.. Call us for a free consultation at Toll-Free 1-888-752-8211. We have offices in Pasadena, Cerritos and Valencia.
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None of the information herein is intended to give legal advice for any specific situation. Atty. Ray Bulaon has successfully helped thousands of clients in getting out of debt. For a free attorney evaluation of your situation, please call Ray Bulaon Law Offices at TOLL FREE 1 (866) 477-7772.