Personal financial counseling is a blast! I LOVE meeting with people and showing them how Jenn and I were able to start managing our money well instead of having our money manage us.
As I have spoken with hundreds of people on finances, I have been seeking the answer to this question.
"What makes a person willing to manage their money well?"
I use a similar approach for every single financial counseling appointment. I ensure that I understand where they have been in life and where they are wanting to go. I make sure I understand how each person feels about their current financial situation. I assist them in putting together a BUDGET that uses the Magic Formula: INCOME – OUTGO = EXACTLY ZERO. We work together to calculate their DEBT FREEDOM DATE. I show them how to use Cash Envelopes for the spending categories that they feel they are most impulsive on (groceries, restaurants, spending money, clothing).
Even with all of this new knowledge, there are still people who will walk right out and continue life making decisions that will rob them of financial freedom. The will continue to make decisions that will rob them of their ability to win big-time.
Don't get me wrong – MANY people make life-changing alterations to the way they manage money. The issue is that I am on a crusade to help people with finances, and it hurts to see someone reject a better way and continue on their current path.
So again, the question I am asking is, What makes a person willing to manage their money well?
What made you start to manage your money well? What key learning happened? What key tool did you obtain? What event happened?
Let the discussion begin!