Budget in place and working...check. Emergency fund in place...check. Debt snowball rolling...hmmm...can't seem to get enough dry, crumbly snow together to actually make a snowball to get it rolling!
This seems to be a typical story these days. Loss of income is causing a lot of people - including responsible, budget-weilding, non-credit using families - to stumble on their get-out-of-debt plan. If you can't seem to get enough snow to stick together to even make a snowball, how do you ever get it rolling?
The initial (and obvious) response, especially from Dave Ramsey fans, is to look at the budget and try to figure out how to get more out of your money each month. Cut expenses here, slash activities there, try to sell a car or a house - as I see it, trying to squeeze blood from a turnip!
Instead of expending so much energy on how much you can save, cut, slash, sell...start focusing your attention and energies on creative ways to bring more in! Most of you aren't in a debt crisis...you're in an INCOME crisis! Quit blaming the debt or the expenses for your financial problems, and focus on the income side of the house.
Deanna Koffler, Nine36 Financial (936 Financial)
Friday, September 11, 2009
Subscribe to:
Posts (Atom)
