C is for Coaching. It probably seems a little self-serving, since I’m a financial coach. While I do think that more should seek out services like mine, the truth is we each should have somebody in our life that we trust to guide and urge us on to be better, especially in the area of money. Sadly, too few of us do.
For some reason, our money – more than almost any other issue in our lives – is not to be discussed with other people. It’s taboo. We talk about personal relationship issues, health issues, spiritual issues, addictions to pornography and drugs, but we don’t talk about money.
– Russ Crosson, The Truth About Money Lies.
So, how do you find a money coach?
- Think about your money. How are you struggling? What do you want to change? Coaches can only help you make progress if you’ve thought about the direction you’re trying to go.
- Speak up about it. Being open about your need gives others the opportunity to bless you with options you might not have been aware of.
- Learn more. We’re living in an age of information. Take advantage of books, videos, and podcasts. Find out what kinds of money management classes and seminars are being offered in your area. Also, read the Bible. The books of Proverbs and the teachings of Jesus are full of valuable lessons about money.
- Act. The more you expose yourself to sound money principles, and the more you surround yourself with like-minded people, the sooner you’ll find a coach. Maybe it’s that millionaire that looks nothing like a millionaire – or the teacher of the money management class you’re taking – or a pastor. Buy them lunch, and ask for help.
You might decide that hiring a financial coach is your best answer. It’s worth paying to get results because your heart follows your money. If you spend it on knowledge and accountability, then you’ll put your heart into it.
Where do you go for great money advice? And who’s holding you accountable with your saving and spending? Anyone have a good word for Z? Let me know in the comments below!
B is for Bondage. Nothing ties up your income and locks up your dreams more than the bondage of debt. If you want to turn your finances around, escaping those chains must be a priority.
Truths about debt:
- Debt is a product being sold. Credit is the most aggressively marketed product in the country. Remember that “Life takes VISA” is an ad slogan, not a fact.
- Debt limits options. Lenders must be paid. Any job that covers all of those bills is a requirement, no matter what. And an underwater mortgage can turn a home into a prison.
- Debt increases risk. Being able to pay today doesn’t guarantee tomorrow. Failure to repay leads to threats and legal action, and can result in losses of property and wages.
How to escape:
- Get intense. You can’t passively drift out of debt. Escaping requires passion. It’s time to get angry. It’s time to get focused.
- Get intentional. You have to drive every dollar you bring in towards a purpose. Make a plan for your income. Write it down.
- Stop borrowing. No more new debt. Draw the line here, and get ready to fight.
What do you think? Are you living without debt? How did you escape? What should be my word for Q? Let me know in the comments below!