Ignoring the problem is not the solution when it comes to your money. If you smelled smoke in your home, you would take immediate action to find the source and quench the fire. Ignoring the smell of smoke could result in a full-on blaze that might burn your house to the ground!
The same holds true for your money. There are warning signs (“the smells of smoke”) that should set off alarm bells. These warning signs include: anxiety about money on most days, constant fighting with your spouse about finances, paying bills late or less than what is due, bounced checks and overdraft fees.
Why do we insist on ignoring the problem – the smells of smoke – that could engulf our financial houses? It’s usually because we’re ashamed of our mistakes and too embarrassed to ask for help. It is MUCH better to ask for help sooner rather than later when it comes to money issues! Almost everyone who come to me for financial coaching has some level of guilt and embarrassment over their money messes. You’d be hard pressed to find someone who hasn’t done something stupid with money at least once or twice.
What should you do if you “smell smoke” in your financial house? Take action immediately! Stop ignoring your money problems and read a good book on personal finances like, Money is Emotional: Prevent Your Heart from Hijacking Your Wallet. You can also enlist the help of a trusted friend or family member to help you with the budgeting process. Please don’t wait until it’s too late and your financial house of cards has burnt to the ground!
Need more assistance? Schedule a coffee chat with me and find out if financial coaching is right for you. I promise you won’t get any judgment from me, only help!