Take Financial Responsibility… Stop Blaming The Economy! Help Families To Live Debt Free And Truly Wealthy!
Last week we discussed how you can help families to live the American Dream and own their homes free and clear! No mortgage! This week we will discuss how you can help your clients to Live Debt Free And Truly Wealthy! How you can help them to take financial responsibility for the situation they are in?
Do you remember the stats from the CareerBuilder report (7/2017)?
- 78% of full-time workers said they live paycheck to paycheck… up from 75% last year.
- 71% of all U.S. workers said they are now in debt… up from 68% a year ago.
- 56% said they are in over their heads with debt.
- 56% save $100 or less each month.
- About 18% of workers said they had to cut back on their 401k contributions or personal savings in the last year.
- More than one-third do not put any money away for retirement.
I think these stats are really scary. But, what is even scarier is that most people want to blame their problems on our economy… the lack of good-paying jobs, the rising costs of the essentials, etc.!
But is that the real problem? Or is it that most people will not take responsibility for their financial situation? Even when they know in their heart that they are the blame for where they are right now!
“Man must cease attributing his problems to his environment, and learn again to exercise his will – his personal responsibility.” Albert Einstein
Here is an article that I found, that I hope will help you to put things into perspective for you… and for your clients! So you can help families to Live Debt Free And Truly Wealthy!
Remember… it all starts with you! You may also want to copy this article to give to your family, friends, and clients to show them you care and want to help them.
When will you take responsibility for your financial situation?
8 Common Excuses People Use to Avoid Taking Financial Responsibility …By Carol Morgan
We would all love to be millionaires. But let’s face it, most people will never make it that far. Most of us stall somewhere around the middle class. And that is not too bad when you consider the fact that half of the world’s population lives in poverty.
Our culture values money and possessions… almost to the extreme. This fosters a ‘keeping up with the Joneses (or Kardashians) kind of mentality. People want to be rich – or at least look like they are rich. Because of this, many people make bad choices when it comes to their finances. And many of them make excuses for it. Here are eight of them that I have seen from many people:
- I can just live off of credit cards.
You do realize that at some point you will have to pay that money back, right? And you will probably have such a huge balance that you will never be able to pay it off. So you might think, “Well then I can just declare bankruptcy. No big deal.” Well, guess what? Not only does bankruptcy ruin your credit for a very long time, the debt just does not magically disappear. Someone pays for it. And who is that? The rest of us. The companies you don’t pay will have to raise their prices to make up for the loss – higher prices that we all have to pay. Or maybe taxpayer money will be used to pay off your debt. However it works, it all comes down to one thing… you did not take financial responsibility for your life.
- I need to impress everyone.
This is deadly. As I said in the first paragraph, many people do have this need. However, what is the point? Just because you don’t live in a huge house or drive a fancy car doesn’t mean that you are not successful. In fact, I bet most of the people who do own all the rich-looking stuff… drown in debt! Wouldn’t it be better to live in a modest house and drive an average car… So that you can sleep at night! Because you are not drowning in debt? I think that sounds like a better option.
- I always scream, “YOLO!!!!” (You Only Live Once).
I’m not sure if most adults have heard this ‘Yolo’ term. But it is one that kids tend to use these days… “You only live once!” And that is true (unless you believe in reincarnation). But while that term implies that you should live your life to the fullest and embrace the moment… that way of thinking can get you into a lot of trouble! If you don’t think about the consequences of your actions. If you rack up a pile of debt so big that you will have to spend the next 10 lifetimes to pay it back. Then just maybe you shouldn’t live in the moment quite so much.
- I can’t invest my money – I might lose it because it’s too risky.
Many people are scared to invest their money. Because they are afraid to lose it. It is almost as if we are wired that way. True, any investment is risky. However, if you invest for retirement or for your children’s college tuition, then that is a very good reason for you to take the plunge. As the saying goes, “Nothing ventured, nothing gained!” So if you avoid a strategy that could grow your money into a nice nest egg for your future, then maybe you should rethink your actions.
- I don’t think money is important.
If you think, “Money isn’t everything!” then you are probably irresponsible with your money. You do not take financial responsibility. Of course, money is important! But if you think that it isn’t, then you have an attitude of carelessness. If you don’t think money is important, then you will not pay attention to how or where you spend it. And this lack of attention will get you into trouble.
- I’m already in a ton of debt, so what’s a little more?
That attitude is what got you into the mountain of debt in the first place. Little by little, one small purchase after another adds up to one big mess. It’s kind of like eating a whole birthday cake in one day, bite by bite. Each bite seems harmless. But as you slowly eat your way through the whole cake, suddenly you ate just that – a whole cake. Remember that each step along the way stacks on top of the last and eventually they add up.
- I deserve to have nice things.
Many people think things like this, “I work really hard, so I deserve to have the best!” So, they go out and buy things they can’t afford. For example, I know a guy who always had to have the “coolest” and “most expensive” car because he wanted the best. But guess what? Eventually, his finances got to the point where he had to downsize everything. So if you are like him, then it might be best to start out small before you end up in financial ruin as he did. It is easy to buy a reasonably-priced used car. You can do some simple research, use a car buying guide, and find one that would be just as nice. But with a much lower price tag.
- I like to buy things on credit because I can take a long time to pay them off.
This is like the ‘lay away’ mentality, but you actually get to enjoy the thing you bought. Yes, a house usually takes 30 years for most people to pay off. Cars take around five years. Those are normal purchases that we expect to have to pay over time. However, those are necessities. Some things you buy probably aren’t. If you find yourself thinking, “Hey, it might cost $5,000, but the payment plan says I only have to pay $20 a month… so I can afford it!” Well, maybe you really can’t.
Taking financial responsibility is really the same as personal responsibility.
You just need to be self-aware enough to know that your actions have consequences. Not only for yourself but for other people as well.
“A sign of wisdom and maturity is when you come to terms with the realization that your decisions cause your rewards and consequences. You are responsible for your life, and your ultimate success depends on the choices you make.” Denis Waitley
There is a saying that goes, “When the student is ready, the teacher appears.” The truth is when you are ready to really evolve and mature and move towards the life that you really deserve… and you will do whatever it takes, for as long as it takes… Then all of a sudden the right teacher materializes just for you.
When will you take financial and personal responsibility for your future… And your sales career? Do you really want to help families to Live Debt Free And Truly Wealthy? Then we are here to help you!!!
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Nothing Will Change Until You Make it Change. So It Is Up To You To Help Families Take Financial Responsibility To Live Debt Free And Be Truly Wealthy!