Simple Solutions To Financial Freedom

Overcoming Your Biggest Financial Fears

On Behalf of | Sep 10, 2018 | Education |


Money makes the world go round. At least that is how the song goes, but it can also be the cause of stress, arguments and sleepless nights.

According to a recent study by Northwestern Mutual 85% of U.S. adults suffer from financial anxiety. Varo Money polled more than 1,000 U.S. adults and found that, while a whopping 85 percent say they “sometimes” feel stressed about money, a full 30 percent say they’re “constantly” stressed about their finances.

The fears are lumped into three categories:

1.    Fear that you’ll never be able to retire or that you will outlive your money.

2.    Fear that you will never get ahead; constantly living paycheck to paycheck, not to mention the fear of an unexpected expense like illness or a broken furnace.

3.    Fear that you will be in debt forever; leaving your children with a burden you never intended.

We only have one lifetime to experience. Wouldn’t our time be better spent in fellowship than fearful?

What is the solution? Two Steps that Work!

Like the person who steps on the scale 100 pounds overweight; you didn’t find yourself in debt overnight and you won’t be debt-free overnight either. It takes planning, focus, sacrifice, and perseverance.

There are three important steps that you must follow;

Step One: Acknowledge the problem.  Ignoring your problem will not make it go away.  If anything, ignoring the problem likely will make it worse.   Make a commitment to yourself that you are going to deal with it, no matter how daunting it may seem to you.

Step Two: Be honest. Frequently those most stressed about their finances are keeping it a secret from loved ones and even from themselves. They live beyond their means, using credit to increase their debt so they can keep up with appearances.

Step one involves being open and honest and facing the reality of your current circumstance. You must put in writing your income and your expenses to see where you have the opportunity for change.

Step Three: Ask for help. Depending on the situation, help may come from family but to really gain control of your financial status, you need a professional. At Bankruptcy Advocates we don’t just help people through the bankruptcy process. We also are available to help:

·    Analyze the current financial situation.
·    Create a plan that includes paying down debt and adding to your savings.
·    Negotiating with creditors when possible.
·    Determining the best course of action, of which bankruptcy may be one option.

There are two main benefits to asking for help from a professional:

1.    They are impartial. We don’t judge, we don’t criticize, and we don’t scold. We access the facts and help determine and plan for moving forward.
2.    They are experienced. There isn’t a circumstance that we haven’t already seen before. To you, the financial picture is all consuming and hope seems distant or even non-existent. But we have been there before and we know the best paths available to help you become debt-free.

Don’t let your financial fears overwhelm you. Help is available. And the first consultation is free.

Southern Illinois Bankruptcy Attorney law firm Bankruptcy Advocates is located in Carbondale and serves a wide geographic community including Carbondale, Murphysboro, Marion, West Frankfort, Johnston City, Benton, Herrin, DuQuoin, and Pickneyville. We are a debt relief agency. Our southern Illinois bankruptcy attorneys help people file for relief under the Bankruptcy Code. The first consultation is always free. Give us a call at 618-549-9800 or email us at [email protected]  to speak about your case or legal matter. Convenient appointment times are available.