The Cost of Doing Nothing, Christine Luken, Financial Lifeguard

The Cost of Doing Nothing

The Cost of Doing Nothing, Christine Luken, Financial Lifeguard

Occasionally, I have a potential client tell me they can’t afford the investment to hire me for financial coaching. Keep in mind, these are folks who have $100k+ incomes. But they can’t come up with a few hundred dollars a month to completely revolutionize their financial future?

Now maybe it’s an excuse because they don’t think I’m the right money coach for them and they don’t want to hurt my feelings. I am totally okay with that – and honestly, I can handle the truth if that’s the case!

Yes, investing in a money coach will cost you something up front, but the return on your investment is huge and my clients start experiencing results after the first session. The advice I give my clients saves money both immediately and indefinitely into the future! If I tell you how to save $200 on your monthly grocery expenses, that’s not just $200 you’ve saved. It’s $2,400 per year!

The real question is this:

What’s the cost of doing nothing?

If you could fix your money mess yourself, wouldn’t you have already done it? It’s okay to need advice, accountability, and encouragement to make positive changes in your finances. We all need that for different areas of our lives.

So, what is the cost of doing nothing?

  • Debt levels keep creeping up.

  • Savings balances are stagnant, non-existent, or dwindling away.

  • Sleepless nights, tossing and turning, worrying about money, are the norm.

  • Tension and arguments with your spouse or partner escalate.

  • Your feelings of shame and embarrassment increase.

Can you really afford to be in the same place financially – or worse –six months, one year, two years, five years from now? 

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We are either growing and expanding – or we are deteriorating and contracting. If we’re not proactive with our finances, they will get worse, not better! Ignoring the problem doesn’t make it go away, no matter how hard we wish it would.

The wonderful news is that even small, positive changes add up to big results.

Whether you’re a hot mess with your money or you just need a little financial fine tuning, you can take baby steps to improve. Here are a few simple things you could do today to increase your financial health.

  • Open a savings account

  • Take your change that’s accumulating around your house and deposit it at the bank

  • Set up an automatic transfer every payday to send money to your savings or investment account

  • Sign up for Mint.com or another free digital spending tracker

  • Sit down and talk to your spouse or partner about your finances

  • Organize your bills and receipts

  • Grab your phone and enter a recurring weekly 15-minute appointment for managing your personal finances (paying bills, update your spending plan, checking account balances)

  • Tally up all of your debt and make a plan to pay it off

  • Set up a free coffee chat with me to find out if we’re a good fit to work together on your Prosperity Plan

Pick one of the suggestions above and let me know which one you’re going to do today (or at least this week.)

 

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