2016 Resolution Challenge: Improve Your Financial Health Carroll County, MD
The new year is on the horizon, 2016, my how time flies. The new year celebration often includes a time to reflect on the year gone by and begin new, fresh. Some proclaim a resolution to do something new, different or stop doing something that does not benefit us and our families. My hope for the new year is that you and I will create a new life practice to improve our financial health.
The blog 6 Part Blog Series: Discover how to get your financial house in order is complete. My goal is to help you understand the importance of building and maintaining good credit and get your financial house in order. Too many of us are on the hamster wheel living paycheck to paycheck. One emergency away from financial disaster. Hand to mouth nation: Roughly 40% of US Households are living paycheck to paycheck according to My Budget 360. Have you ever experienced one or more major reasons for financial difficulty? I know I have.
Major reasons for financial difficulty:
Loss or reduction of income - job loss, divorce, death
Emergency and/or unexpected expenses - medical, death
Poor money management - lack of education regarding credit, overspending, purchasing things that you can not afford
Defective goods and services - car breaks down, major system or appliance in your home
Fraudulent use of your credit - identity theft
Student Debt - your own or your child's education is expensive
Addiction - gambling, drugs, alcoholism, compulsive buying, etc.
Financial infidelity - money secrets between couples
Don’t ignore the warning signs of credit problems. See them as a warning to take control and improve your financial situation, not a failure. We all experience challenges in life, financial and personal, you are not alone. Ask for help from a trusted friend or resource and avoid quick fixes, they can only get you further in debt. Watch out for scams, criminals target the vulnerable and if you are experiencing financial difficulty, you are vulnerable. Your best bet is to contact a HUD Approved Housing Counseling Agency for assistance and guidance. Take positive, focused steps to regain your footing. There is life after major financial difficulty if you make changes and stay focused. Be honest Don’t give up.
Incase you missed it, here is the complete series:
Make your 2016 Resolution to create a new life practice, improve our financial health.