Have you heard the the saying, "I've got more month than I have money?" Don't you hate being in the position of bills stacking up, creditors calling asking you the same question a week ago with you answer, "I didn't have money then and I still don't have money now! I'll get to it!" CLICK.
Well, the US Government is now essentially doing the same thing.
How can you apply these tough lessons to your own personal finances?
At the beginning of the year, I was on a radio tour with Fox
discussing how States across America where running out of cash to pay
their bills. State government bankruptcy was even thrown out there for
debate in addition to the out-of-control federal spending that would exceed the
budget by April 2011.
"Naw...things will get fixed by then!" was
the answer by many. Really? Well here we are today on a possible
shutdown of 800k federal employees because Uncle Sam can't make payroll
What ticks me off is my fellow US servicemembers may potentially have to hold off on being able to pay their bills since they won't be getting their checks. They'll EARN, but get an IOU to be cashed in at a later date. Please warriors, don't leave your post...we NEED you on that wall!
Here are three tough tips about avoiding this scenario in your own personal finances:
1) Don't Sweep it Under the Rug - there is no magical wand that will save you from obligations. Attack your bills one at a time and develop a plan that places money in your emergency "rainy day" fund...it's not always going to be nice to play outside...you know what I mean.
Jot all your bills down on a spreadsheet, hang them up on your dartboard and create your plan in knocking things out. Especially with money, we are very visual so seeing things laid out let's you know exactly where you're at. By doing this, you may realize that you are not in such a bad situation since you begin to see the light at the end of the tunnel.
2) Stand Tall - if you are collecting a paycheck, earning money from your services...you are considered grown and responsible, at least by IRS standards. You should make it an automatic HABIT to save a little away just as much as it is a habit to deposit your check. Your savings DO have an affect on how tall you stand and the decisions you make.
Pardon the current education system for not teaching you basic financial
literacy...you get this knowledge in the School of Hard Knocks. CLASS
IS ALWAYS in SESSION. It's not about how you fall down, but how many
times you are willing to get back up! Always affirm yourself with your money and say, "I GOT
3) You Better Recognize - working with an accountability partner or a trusted advisor to help you take your learning curve to a power curve will speed up your financial clarity and confidence. Allow them to be open and honest with you in order for you to make decisive, swift decisions...after all you don't have red-tape or need to fight bureaucracy in order to change your financial situation around. Don't allow this person to be MORE excited about your financial future than you are about your own. It's YOUR MONEY!
Bottom line, it's all in YOUR hands, YOUR ability to make important decisions are well within YOUR reach. I know it...and so do you.
And THAT, is change YOU can believe in.