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Book I: Taking Charge of Your Finances
a secret until now, telling people about them can take a huge load off
your shoulders. And you just may discover that your friends or relatives
have been in similar situations.
If some of your friends or family members are also experiencing money
problems, create your own support group. Get together regularly to
share ideas about getting out of debt, to give one another encourage-
ment, and to celebrate your successes.
Boost your self-confidence by getting smarter about money. Enroll in
a basic personal finance class or read a good book on the subject (such
as this one). Make regular visits to personal finance Web sites such
as www·bankrate·com for practical information about all aspects of
everyday money management.
Be realistic about how long getting out of debt will take. Don't expect
to pay off your high-interest debts, build your savings account, and have
extra money in your pocket by next week. Depending on the specifics of
your finances, tackling your debt could take months -- or, yes, years. As
long as you're serious about dealing with your debts, you'll see gradual
improvement in your finances, but there's no quick fix for serious money
problems -- so don't get yourself down because you can't find it.
Rethink your definition of success. It's easy to get caught up in the idea
that success means spending a lot of money. After all, the more stuff you
have, the happier you'll be, right? That's certainly what credit card com-
panies and advertisers want you to believe! But there are other ways to
define success: being a good parent, spouse, and friend; helping the less
fortunate; living an ethical life; making a difference in your community;
and so on. Money can't buy these things, yet they can bring you more
profound and lasting happiness than more stuff ever could.
Stop making excuses. Maybe you hear yourself saying, "Yes, but I don't
have time to find cheaper insurance." "Yes, but living on a budget is too
much work." "Yes, but I can't earn more money right now." You can make
the necessary changes in your life. You can't afford to make excuses.
Handling Setbacks
When you begin down the path toward financial health, you may get off
course occasionally. If you do, don't beat yourself up. Instead, refocus, steel
your resolve to do better from now on, and move forward.
Okay, that's great advice, but is it realistic? Negative thinking can creep up
on any of us, making it seem impossible to move forward. Maybe you're
tired of living on a budget, having to say no to your kids, and working all the
time. Maybe you've been hit with a financial setback such as a creditor who
