Money Management Matters

There is an old Japanese saying that I think relates to managing money wisely, and helps shape that mindset that we have repeatedly spoken about this year.If you fall down 7 times, you must stand up 8. Money Management, sometimes it hurts.

It came to mind yesterday after we spoke with a client who needed our help. Well actually, they were not sure what they needed, or if we could even help, but numerous friends had mentioned our name enough, that they decided to make a call (the power of referral is real, people).

Our new friends were in a jam, they knew they were, but they just couldn’t see the way through – or where to even start. Debt can rack up fast, and sometimes you get so absorbed into life, that you don’t take time to stop and check on certain things.

When you get into a financial hole, things can go from “this is fine, I am fine, everything is fine” to very bleak, in a short amount of time. This can happen to even the most disciplined of budgeters, savers and frugal spenders. We make mistakes, we lose our way. It happens.

So this week – whilst not technically a mortgage hack (more of a finance hack), we’re talking about getting out of that hole, and getting back on task with your finances.

It’s that Fall Down 7, Stand up 8 mentality. 

And all that means, in this context at least, is that you are going to make mistakes with your money. Even seasoned investors bet on a dud stock now and then. I know countless property “guru’s” who didn’t have the foresight to avoid overexposure in the market. It happens to the best of us. What’s important, though, is how you react when you fall.

You can stay there, wallowing in defeat, frustrated and desperate.  Or you can stand back up. Get on task and move forward towards your financial goal. You might need some help to do so, and that is OK.

No successful person, in any field, became so because they gave up when it got hard. And managing your money can be hard at times – that’s just a reality that you sometimes have to accept.

You want that house now, but you need more deposit. Or you want to be debt free tomorrow (we all do) but it takes time, and strategy to drill that down to zero-balance. But you can’t give up, because that will be far worse. And you shouldn’t have to do it alone. Experience pays in money management.

We understand why people sort of do give up on being better at money management (enter: more marketing terms). When it gets hard, you feel as though you are going nowhere – like my dog when she chases her tail. It becomes overwhelming, that constant battle to stay in front of it, pay the debts down, pay extra on the house, save money for emergencies, have money for fun times. Especially when things get really tight – that’s where it’s almost easier just to give up and go into robot mode.

And I guess that’s where we come in.

Look, we are not accountants, advisors, or planners – we leave that for our trusted friends (like Kate Trost, and Mel Lovenbury). We just look at finances simply and with a common-sense approach. If we can help someone find the big holes in their spending habits, then we will sit down with them and comb through statements to find them. If we need to find a better loan structure to free up monthly cash flow, then we will. If they need help in setting their money up in a more workable structure, we will help them do so.

And to be honest, if we can just help a family understand the position that they are in, and what measures they need to take to get out of it – then we will. It’s not about getting paid – it’s about helping people understand and manage money better.

I guess we help as many people as we can, to stand back up.

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