How People Manage Their Finances
I have helped people manage their finances for almost 30 years, and here is what I have learned:
- Very few people keep a checkbook register or use a computer program like Quicken to reconcile their bank statements.
- Most people that are in their 60’s or older today use a credit card for every expense they can, they write checks for bills, and few use cash.
- Most people that are in their 50’s or younger use a debit card for everything. They look on their phone to see how much money is in there account. They almost never look at a bank statement and do not keep track of their spending. They make financial decisions based on the balance in their account that day.
It is no wonder that most people’s finances are a mess, and they are typically spending more than they are earning. The reason is very simple….they have no way of knowing exactly what it costs them to live or how to project how much money is needed to cover their bills that are coming up over the next few months. The result many times is strife in marriages and relationships. From my experience, money issues cause most marital problems and stress.
The solution is equally as simple, but few people are willing to do it on their own. I have learned that they need a “financial coach” to develop a plan and be their discipline. We can get your finances on track and virtually eliminate the stress and problems associated with managing your finances.
Give us a call.