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1/18/2021

How much is taking out a debt consolidation loan worth to you?

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Today’s guest post was written by Bethaine Parker.
You can read more from Bethaine, here: www.debtconsolidationus.org/blog
Good or evil?
How much is taking out a debt consolidation loan worth to you?
 
When it comes to getting out of debt there are multiple solutions available, including  DIY methods such as the Snowball/Avalanche and using balance transfers.   
 
They all have their benefits, but they also have their limitations, such as negatively impacting your credit and forcing you to make sacrifices. It’s important understand the pros and cons and to choose an option that works for you and according to your affordability and other financial conditions.
 
There are a lot of misconceptions around choosing the best debt relief option.
 
If you can’t afford to pay off your high-interest debts every month, and you don’t want to damage your credit by settling them, debt consolidation may be the best solution for you.
 
But can taking out a debt consolidation loan make you debt free? Is it beneficial or harmful for you?
 
Let us analyze the pros and cons of taking out a debt consolidation loan and clear our minds!
 
#Pros of taking out a debt consolidation loan
 
The main advantage of a debt consolidation loan is that you may pay off all the current debts by taking this loan. Your high-interest, unsecured debts such as credit cards you’ve been struggling to pay, your household utility bills, high-interest payday loans and medical bills, will all be paid fully. You may even repay your bank overdrafts.
 
A debt consolidation loan eases up the hassle of paying multiple unsecured debt payments each month, along with the ones which are past due.
 
You only have one monthly payment to worry about…the debt consolidation loan. Managing only one payment per month is way easier than coping with multiple payments!
 
Most low-interest personal loans are taken out as debt consolidation loans. So, this loan is cheaper than any of your existing credit card or payday loan interest rates. Consolidating at a lower interest rate gives you great savings in the long run.
 
Taking out a debt consolidation loan may help you to pay off debts faster. Credit cards don’t have a set timeline for completely paying off a balance. You have to pay a minimum balance every month and the interest grows every month. But, if you consolidate your debts with a loan, you’ll be working with fixed payments every month and repaying your debt faster.
 
The quicker you can pay off your debts, the sooner you can start investing more money towards fulfilling other life goals, such as an emergency or retirement fund.
 
If you have bad credit, you might still apply for a debt consolidation loan. But having a good credit and payment history will help you to get a better interest rate while you negotiate with the lender.
 
While taking out a debt consolidation loan you’ll face a hard credit inquiry. So, initially, it may lower your credit score a bit. But, a debt consolidation loan will improve your score over time, if you make on-time payments. Making on-time payments would raise your score because good payment history can influence credit score by 35%.
 
After paying off your old credit cards, if you still keep the accounts open, you’ll reduce your overall credit utilization. A low credit utilization ratio and a stronger payment history will help your credit score to rise again.
 
So, it can be said that consolidating debts through a loan can ultimately improve your credit score.

#Cons of taking out a debt consolidation loan
 
Apart from those immense benefits, taking out a debt consolidation loan may have some cons also. Lenders may approve unsecured debt consolidation loans and offer you cheap interest rates only if you fulfill some strict criteria. To qualify for a cheap consolidation loan, you may need a solid income, a high net worth, assets equally valued to your debts, or a co-signer (with a high net worth and a very strong credit score) if you have bad credit.
 
Few lenders may ask you for a security or collateral before approving your loan application. In this case, you may have to provide a good amount of assets as collateral.
 
Interest rates of personal unsecured loans are usually higher than a home equity loan. But you need to remember that taking out a cash-out-refinancing loan instead of a personal loan may prove devastating. If you somehow can't pay off the personal loan, your finances will be affected and your debts will increase. But if you can’t pay off a cash-out-refinance loan, you may lose your home entirely.
 
If you don’t have a steady income then taking out a consolidation loan will also become a financial issue for you. If you can’t make the monthly payment on time, the interest will pile up and increase your total debt gradually. Apart from that it will also affect your credit score and be added to the credit report as a bad item.
 
Some debt consolidation loans come with fees. Costs such as loan origination fees, balance transfer fees, closing costs, and annual fees can be charged to you. So, before applying for a debt consolidation loan, know about all fees, including late payments and early repayment penalties. If you don’t want to pay that cost, and only want to pay what you can afford, do not opt for such loans.
 
After considering the pros and cons of debt consolidation loans, it can be said that debt consolidation through taking out a loan will be a wise choice, for those who want to get rid of multiple monthly payments, as well as want to reduce overall interest rate. But you also have to remember that a debt consolidation loan might not work for you if you don’t follow a realistic household budget. It’s important to make your bill payments, loan payments and annual expenses when you have a debt consolidation loan.  

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11/26/2020

only Spend what you have

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To get out of debt, you have to change your spending habits.
 
One such change, is to ONLY spend the money you have on hand or in your bank account…nothing more.
 
If it’s not in your hand or your account right now…you cannot spend it. This means no payday loans, no using credit…no borrowing money.
 
It will be difficult at first because most of us are used to instant gratification … if we want something we get it … no waiting and not having the money to pay for it, isn’t always a deterrent.
 
Practicing this way of spending, can save you money. Not only will you be spending less on interest charges but when you have to pay out of pocket or see the money leave your bank account…you may not be as quick to spend.
 
The money you save can be used for debt repayment and as you pay off your debt…you then have more money available for the more meaningful things and experiences.
 
If you don’t have a debt repayment plan and would like my help to create one, just click on the button below, send me an email and let’s connect.
​
Email glenda

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10/5/2020

You are the author of your life stories

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Realistically, we are all story tellers…but some stories are more damaging than others.
 
We tell stories when we share the latest news or when we share things happening in our lives.
 
We even tell stories when we try to get out of situations we don’t want to be in….you know what I mean… the little white lie you tell when you really don’t want to do something…. but can’t come right out and say it?
 
Well….that’s a story.
 
But the most damaging stories are the ones we tell ourselves that prevent us from achieving our goals.
 
These stories have an emotional attachment to them…

...and when we add emotion (positive or negative) to a story, it becomes more believable and it eventually plays out.
 
For example, let’s say your current story is ”I can’t get out of debt!”…and every time you think of your debt…you feel frustrated… you feel stressed out… you feel anxious…you feel fear.

By connecting so much emotion to this story…you make it real. Your thoughts, your actions and how you speak, start to reinforce the story and make it even more believable!
 
But the good news is…it's just a story…it can be re-written and your new story can be one that makes you feel happy, excited and hopeful!
 
I mean, first of all, how can you possibly know for sure you can’t get out of debt?
 
Today is a brand new day…a clean slate…anything that happened in the past is gone, it’s done…Even if you struggled with debt yesterday…it doesn’t mean today has to play out the same way!
 
When you tell yourself you can’t get out of debt…how does it make you feel?
 
Bad? Fearful? Anxious? Stressed? Frustrated? Mad?
 
I don’t know exactly how you feel... but I don’t think you’re jumping up and down, screaming at the top of your lungs, “Woohoo!! I’m up to my arse in debt! "

....No, I don’t think that’s happening.
 
If your story makes you feel anything less than happy…why invest your time and your thoughts into it?

Why reinforce that story?
 
Ask yourself these questions…. and give yourself an honest answer.
 
  
What story would serve you better?
 
Maybe your new story can be, “It is possible for me to get out of debt!”
 
Say it a few times…if the old negative beliefs start creeping in push them aside…even it’s just briefly.

How does your new story make you feel?

What positive emotions can you connect to it?
 
It does take more than just saying it, to get you to buy into the new story…it has to be totally convincing to you.
 
I mean, you’ve attached so much emotion to the old story…how can you shift that level of emotion (positive emotion) to your new story?
 
And yes, you do need to shift from you your old story to your new story because you can’t have both stories playing in your head at the same time.
 
It’s kinda like trying to drive a car with one foot on the gas and the other on the brake…no matter how hard you push on the gas….the brake (like your negative story) can stop you from getting where you to be.
 
And if it doesn't stop you, it will most certainly make it very difficult for you to get there!
 
That’s why it’s so important to take the power away from that negative story and give it to a new story that supports what you want to achieve.
 
For example:
 
Old story: "I can’t get out of debt because I'm not great at math."

New story: “I know how to use a calculator and there’s nothing I need to do that a calculator can’t handle.”
 

Old story: "I’ve tried to get out of debt before, but it just didn’t work for me." 
 
New story: “What I was doing before didn’t work…but I can learn new skills that will help me get out of debt.”
 

Old story: “If I’m in debt, I can’t afford to pay someone to help me.”

New story: “I really want to make this happen and I will find a way to do it.”  
 


If the story you tell yourself, makes you feel anything less than happy…it’s time to re-write it.  
 
Your story is meant to make you feel happy, excited and hopeful!
 
Disconnect emotionally and squash the beliefs from your old story.
 
It will take time to create and incorporate your new stories but you can do it! You just have to believe in you and your abilities to make change happen!

On that note…. I am outta here!
 
Have yourself a totally fantabulous day and always let your awesomeness shine!

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9/16/2020

Saving for planned spending

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Well hello hello and happy day!
 
Today I want to talk about planned spending.
 
We all have expenses that fall outside of our monthly expenses…these are the occasional or seasonal expenses and they are expected (albeit, sometimes forgotten when not “in season”).
 
Some common expenses in this category:
 
- School start
- Christmas and holidays
- Vehicle license renewal
- Driver’s license renewal
- Birthdays
- Anniversaries
- Membership renewals
 
One strategy to reduce the financial stress of the occasional or seasonal expenses is to budget for the expenses that are variable such as gifts and holidays…and another is to save for your planned spending. 
 
School has just started and for many parents this means purchasing school supplies, clothing and so forth. The spending is done for this year, but it doesn’t mean you can’t get a jump on next year.
 
Christmas and holidays are around the corner but you still have time to start saving.
 
Try this:

1. Create a “planned expense” tracker or click on the button below and download one that I have created. 
"Planned Expense" Tracker
 
2. Enter all your upcoming seasonal and occasional expenses and the amount of each. 

3. Highlight the month it is due. 

4. For each upcoming month write in how much you will be saving. Each month may be the same amount or the amounts may vary month to month but however you do it…it should equal the cost of the expense. 

5. Open a savings bank account for “Planned Spending” and deposit the total amount for each expense monthly. 

6. This money is for upcoming expenses and if you spend the money, you will be back in the same situation again. Scrambling to come up with the money when it’s due. 
 
 
If you want to reduce your money-related stress and would like some help putting together your savings plan…it all starts with a conversation.
 
Learn more about my FREE Discovery Session by clicking the button below:
free discovery session
​ 
I know from my own experience there may be some hesitation to get on a call like this...

For me, I think it’s fear of the unknown…
 
I ask myself questions like:
 
Will I be roped into signing up for something I don’t want?
 
Or, will there be some high-pressure sales tactics I’m not comfortable with?
 

I want to alleviate any fears or the hesitation you may have around getting on a call with me…

Basically, I want to know where you are now, financially…where you want to be…and I’ll let you know how I can best serve you.


…..If it’s a fit we work together…if it isn’t…we won’t….easy peasy.
 
Don’t let your unfounded fears prevent you from taking action…this may be one of the most important heart to heart conversations you’ve had about money….
 
Learn more about my FREE Discovery Session by clicking the button below:
FREE Discovery session
​On that note, I am outta here.
  
Have yourself a totally fantabulous day and let your awesomeness shine!

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9/7/2020

mindset - what is it and why it matters

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Well hello hello and happy day!
 
I’m sure you’ve heard the word “Mindset” tossed around on more than one occasion….
 
If you aren’t really sure what it is…the dictionary meaning states:
 
“The established set of attitudes held by someone.”

Your mindset/attitude can also be called your beliefs or your stories.
 
You’re probably thinking, “OK great…but how does that translate into everyday life?”
 
 
Many of the beliefs and stories we tell ourselves are actually instilled in us at a very young age…they come from the teachers in our lives (parents, guardians, peers, educators, experiences and so forth).
 

At a very young age, children are like sponges…they take everything in and their teachers help form their perception of life. It’s kind of like loading software into a computer.
 

Some of the beliefs are so ingrained they work on a sub-conscious level and it’s not until people do the “inner” work…do they find them.
 
Other beliefs are easier to find…but it takes awareness of thoughts and feelings.
 

So what’s the big deal with mindset?
 
Because our thoughts often control our actions… mindset, attitude, beliefs, stories, perception…whatever you want to call it…can determine whether or not a person achieves their goals…or for that matter, it can affect their ability to set goals!
 

I’m not going to dive deep into this today but here’s an example of a negative or self-sabotaging mindset…belief…
 

 “I’ll never get out of debt.”
 

The more a person believes this…the more this statement will play out in the reality of their life.
 

Think of it this way…if someone constantly tells themself they will never get out of debt…it becomes their truth. When they believe this is their lot in life…quite often they give up trying to change their situation or don’t even bother to try because they believe there is no way out for them.
 

On the other hand…a positive mindset could be a motivator to help someone set and achieve goals.
 

For example:
 
If someone believes getting out of debt is possible….it changes their perspective…they can see the possibility ….and when they believe something is possible, then they are more likely to take actions to achieve the goals…

Maybe they’ll ask for help… educate themselves…take a course…work with a coach… whatever they do, it will be an action towards achieving a goal that they believe is possible.
 
 
The beauty of it is even if someone has a negative belief or story…these are not permanent!
 

Stories can be re-written…but the work to create change depends on the story and how deep it goes…if it’s something that’s running on a sub-conscious level…it’s going to take more work.
 

Basically your thoughts create your reality.
 
 
Try this:
Even if it feels true to you and not self-sabotaging, take a moment to reflect how your thoughts are affecting your actions…are they motivating you to move forward or holding you back?
 
Think about your money stories…what do you tell yourself about money and debt, good and bad? If you can’t think of anything, make a conscious effort to notice your thoughts and feelings that come up around money.
 
 
If you have negative or self-sabotaging stories…how can you change them around? What words can you use.
 
For example:
 
Old story: I’ll never get out of debt.
New story: I’m smart enough to figure out a way to get out of debt.
 
Old story: I have to work hard to make money.
New story: Money comes easy to me.
 
Being appreciative of what you have can also help you to release negative thoughts and behaviours.
 

For example…instead of beating yourself up about the debt you have…focus on the good things that came from that debt…it doesn’t mean you want to hold that debt forever…but it just may help you release some of the mental stress associated with the debt.
 
And as Oprah put it, “Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.”
 
On that note, I am outta here.
 
Have yourself a totally fantabulous day and let your awesomeness shine!
​

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8/26/2020

Get out of debt and live a meaningful life as you do it!

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Well hello hello and happy day!

Today I want to talk about getting out of debt and living a meaningful life as you do it.

But what is a meaningful life?

One description…says living a meaningful life means you're at peace with yourself, with your life, and with everyone around you. ... Living a meaningful life means, on the very high level, that you feel peace, love, joy, contentment and freedom most of the days of your life.

I don’t think we need to expand that because I think it’s kinda obvious why a person would want to meaningful life.

Quite often when people think about getting out of debt…they have visions of deprivation…lack…having to sacrifice the things they love so they can pay off the bills and reward themselves with a life they love.

But that’s kinda like a financial crash diet and for anyone who’s done a crash diet…you know that the chances of slipping back into old habits is quite easy when you are free from the constraints of the diet.

There will be people who can use this method… break up with their debt, kick it to the curb and lock the door behind it…but for many other people…it’s only a matter of time before they slowly edge their way towards the slippery slope leading to the open arms of debt.

But it’s not all doom and gloom…hence the importance of creating or building a meaningful life while you are working towards a debt-free life…..

How do you do it?

First of all…a person has to understand what is truly important to them…what they value deep down.

Then…they have to be a little creative and find ways to have the things and experiences they value…without giving that power to money.

For example:
Let’s say a person values quality time with family or friends…ordinarily, this could mean vacations away…enjoying meals out numerous times per month, going out and enjoying different activities together such a shows or movies or something like that.

Even if they are cutting back on expenses and following a spending plan…it doesn’t mean that life as they know it is over. They just have to be a little more creative on how they can enjoy this quality time while staying within their budget.
They can take day trips together every other weekend rather than expensive vacations…they can enjoy potluck meals together or work it out so that they meet at one person’s house for a meal once every couple of weeks….they can find no cost or low cost activities to partake in…it just may take a little more effort…but if quality time with family and friends is really a priority and is really valuable to them…they will find a way to do it.

So you see, you don’t have to make living a meaningful life a reward for getting out of debt…but you can take back the power that you give to money to make you happy.

To go back to the description of what a meaningful life is…when you are not living beyond your means and racking up debt to keep up with the Jones’…you are at peace with yourself, financially.

When your spending reflects the things and experiences that are important to you…you can feel peace…love, joy, contentment and freedom most of the days of your life.

So you see…if you’ve ever felt that you didn’t want to take the plunge to invest in you…. to become debt-free….. because you didn’t want to give up the things you love….maybe the things you love, are actually just stuff…filling a space in your house…your garage or even inside of you.

Here’s a little action item:

Make a list of the things you love and are important to you…go through the list and at each item ask why? Why is this important to you?

Keep asking yourself this question…until you get to the real reason why….

Be honest with yourself…because the only one you’re cheating is you. You may not like the answers but at least they will give you a little more clarity about what is important to you and it will help you determine your needs vs your wants.

Alrighty, on that note, I am outta here!

You have yourself a totally fantabulous day and always let your awesomeness shine!

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7/21/2020

Are you "Putting on your own oxygen mask", first?

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“I have come to believe that caring for myself is not self-indulgent.
Caring for myself is an act of survival.”
 - Audre Lorde
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If you've ever traveled on an airplane you know before every take-off, the flight attendant reviews the safety procedure.

I've traveled enough to be familiar with it and I admit, my eyes kinda glaze over when they’re going through it, but there’s one part of the demonstration that stuck with me for as long as I can remember.

Put on your own oxygen mask before assisting anyone, and that means A-N-Y-O-N-E.

I mean think about it…it does make sense…if you’re struggling, it's more difficult to help someone else.

Self-care is like that oxygen mask…it is necessary for your survival.

Unfortunately, many women run themselves into the ground…putting others ahead of themselves…their kids, their spouse, their work, and so on. Saying “yes” to everyone else and “no” to themselves…until it’s absolutely necessary to put themselves first…and even then many feel guilty about it.

Why?....The reasons vary.


…….But one thing is the same across the board…whether you believe it or not….you are #1 and it’s important you treat yourself as such.

Self-care is deliberately taking care of your mental, emotional and physical health…..and it’s important because these areas of wellness have an impact on other areas of your life…even your finances!

Self-care is an everyday thing…not just a luxury you take advantage of only when you are totally depleted nor is it a “well-earned” reward. 

Here are some examples of how to practice self-care:

- Develop a regular sleep routine
- Eat healthy meals
- Take breaks
- Use your sick leave
- Develop a regular exercise routine – but listen to your body and allow your exercise to reflect how you feel.
- Do something that brings you a sense of joy
- Repeat positive affirmations
- Share only positive things on your social media
- Define new goals each week
- Allow yourself time to pause

Self-care doesn’t have to cost you money…but if women aren’t taking care of themselves…their actions can end up costing them a heck of a lot more than money….does “burnout” mean anything to you?

You are your #1 responsibility (it doesn’t matter what anyone else says) and to be able to show up 100% in your life…self-care is something that could be considered vital.

If you spread yourself too thin….you will snap…simple as that.

Allow yourself the time to reflect on ways you could easily incorporate self-care into your daily life, write them down, and keep them somewhere visible. It doesn’t have to be anything dramatic or time-consuming. Every week, choose one small self-care routine that you commit to following each day that week....non-negotiable.

Remember.....you ARE worth it! 

I would love to hear from you! Hit reply and let me know which self-care practices you'll be making a part of your daily routine.


Thank you for being part of my community!

Have yourself a totally fantabulous day and let your awesomeness shine!

Until next time.....

Glenda

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7/20/2020

8 Great reasons to break up with your debt

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“Debt is like a bad relationship;
​sometimes it’s a heck of a lot easier getting into it than out of it.”

- Glenda Barrington, Money Coach
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Today I want to chat a little about your relationship with your money…or….more specifically…breaking up with your debt. 

Chances are that you know what it’s like to be in a crappy relationship…. whether it’s with a family member, a lover, a friend or someone else in your life.

You know the kind I'm talking about….. the soul-sucking relationship…the one that drags you down and makes you feel like crap. 

Debt can be like that. 

Being in debt can feel like being in a bad relationship. It can drain you mentally, physically, and emotionally but the good news is, even if you can’t see it right now…there is a way out.

.....You can break up with your debt!

It isn’t easy…it takes time, energy, commitment, and investment on your part… and you have to be willing to stick with it for the long haul.

But you don’t only break up with your debt, you want to break up with it and then kick it to the curb so it doesn’t drag it’s sorry ass back in!

Sure, there's gonna be bumps along the way…but you just keep your eye on the prize…life without debt!

One of the most effective ways to stay on track is to know your “why”…the reason or reasons why it’s so important for you to get out of debt. 

Why do you want to get out of debt …..and stay out of debt? 


{    space for the answer to come into your awareness   }


I want you to dig deep on this one because when things are feeling kinda shaky and you’re not feeling motivated ….or you feel like you just want to give up…your “why” is what will keep you focused and moving forward…. even if you trip up along the way!


For many people, it’s not always easy to find their “why”…I mean their real why….

Sure it would be good to get out of debt…but why is it important to you? 

What would debt-free mean for you?

Give yourself a little time to think about it. There are no right or wrong reasons…only your reasons.

In the meantime….

I’m very excited to share with you "8 Great Reasons To Break Up With Your Debt And Kick It To The Curb!"

For your reading pleasure, I’ve packaged them in a handy dandy guide with journal prompts….jussst to help you get those little grey cells of yours working to switch you into a “life without debt” frame of mind.

Download your guide by clicking on the button below:
Get the guide now
Yes, getting out of debt takes time, but you are worth it!  

You deserve to be free from the weight of debt that drags you down and you deserve to live a life in control, independent, and on your terms!

I would love to get your feedback on the guide and your experience with it! Please share in the comment section below.

As always, I am grateful you're part of my community!

Have yourself a totally fantabulous day and let your awesomeness shine!

Until next time.....

Glenda   

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7/9/2020

When is your "right" time?

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“Don’t wait. The time will never be just right.”
- Napolean Hill
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I don’t know about you…but for me, I usually take action, especially on the important stuff, when I feel it’s the “right” time for me to do it.  

 
A great example of this is when I was struggling with money and up to my arse in debt. 

 
I mean yeah, at first it didn’t seem so bad…things were tight but I was keeping the wolves from the door. I kind of had a life…nothing to be excited about, that’s for sure and the bills were being paid on time. Although I was only making minimum payments on credit cards….. but at least I was making ends meet…sort of.

 
If I had taken the time to really look at my situation, earlier in the game. I would have clearly seen something I was refusing to acknowledge…my expenses far outweighed my income and I was using credit to fill the gaps. Not a good idea….

 
I was working three jobs…I was miserable…I was stressed out…I was exhausted mentally and physically but I was hanging in there…until I couldn’t hang in there anymore. 

 
Only then, did I see it as being the “right” time to do something about the state I had gotten myself into. 
 

I guess I was a bit of a sucker for punishment. I mean seriously, when I look back at it, what the heck did I even gain by letting things go that long? Short answer, f**k all!

 
At the time I was more concerned about not ruining my credit score and feeling embarrassed to admit that I didn’t know how to manage my money, I had screwed up, got myself into a mess I couldn't get myself out of… even though I was doing the things I thought I needed to do. 
​
 
I’ve matured a lot since then…I mean after all I was just a kid, not quite 40 years old ….what did I even know?  
​
 
One thing I've learned is that we only know what we know…knowledge and skills don’t magically pop into our heads…we have to make it a priority to learn these things. Investing our time, our energy, and maybe even our money.
​ 
We have to realize that we deserve better. We have to get over ourselves, reach out and ask for help.
​
 
What about you? What does your "right" time look like?
​
Here’s a question to ask yourself: How much pain do you have to be in, financially, before you take action to change things around?
 
There’s no right or wrong answer…just be honest with yourself…

​Have yourself a totally fantabulous day and let your awesomeness shine!
​
Until next time.....
 
​Glenda 
 
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7/2/2020

You and your money, is it a love story?

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"Trying to live a rich, wealthy life when you have a poor relationship with money is like trying to drive a car with one foot on the accelerator and the other one on the brakes. You may occasionally make some progress but in the end no matter how hard you try you never seem to really get anywhere."

- Paul McKenna, Ph.D.
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Do you ever sit back and think about your relationships with the people in your life?

Chances are, you do…especially if one of them is a little rocky. You probably mull over it, think about what’s wrong…what you can do to fix it and so forth. If you’re anything like me, you analyze the crap out of it!

Relationships with family, friends, lovers, co-workers or the people that just happen to be in your life  are an important part of life as a whole and realistically they are important to your survival.

But what about you and your money? Have you ever taken the time to sit down and look closely at that relationship?


Whether or not people realize it, their relationship with money plays a huge role in their financial success – success being whatever it looks like to the individual. The money stories they tell themselves can guide them to wealth or prevent them from achieving it.

Money is a tool used to allow us to exchange goods and services…that’s it. However, many people have given a deeper meaning to it…they are connected emotionally to money through their beliefs around it.

You are not born with these beliefs. Good or bad, these beliefs are conditioned beliefs…they are the beliefs instilled in you by your parents and caregivers and other influences from your childhood.

These beliefs guide you unconsciously…

If you believe you have to work hard to make money, you will only look for jobs that involve a lot of effort. If you believe that everyone is out to rip you off, you will find people who will do that. If you believe that you deserve great wealth, then your mind will look for opportunities that create that.


It’s time to let go of the negative stories that you’ve been telling yourself about money!


It’s great if your money stories are leading you to a life of wealth and riches but if they aren't….well, you need to be figuring out which stories are playing in your head and re-write the ones that are holding you back. It’s time to let go of the negative stories that you’ve been telling yourself about money!

Some people can do this on their own…some need support, either way, …this is a first step that needs to be taken so you can break up with your debt and create a life that excites you!

What does your relationship with money look like? What does money mean to you?

Here is an exercise you can try.

Answer the following questions and then, to dig a little deeper, question your responses, ask "why"? Journal about the thoughts and emotions that come up.


- If money is the topic of conversation, do you feel comfortable talking about it or do you try to avoid the conversation?

- How do you feel when you pay your bills? Resentment, worry, scarcity, gratitude, or some other feeling?

- What beliefs around money did you inherit from your parents/guardians?

- What do you remember most about your childhood, in regards to money?

- If someone gives you money (or anything of value) how do you feel about it? Happy, grateful, uncomfortable, unworthy, indebted o,r some other feeling?

- How do you feel about your income? Satisfied, happy or feel that you are not getting paid enough, yet you continue doing the same work for the same pay?

- Do you hang onto money or do you spend it freely?

- Do you put off important things like car repairs or dental work because of the cost? What about if you have the money to pay for it, do you still put it off?

-  Do you attach how much money you have to your self worth?

- How do you feel about people who have very little money?

- How do you feel about people who have a lot of money?

- What do you value most: money, material things, or experiences?

Do you see any areas where your beliefs may be holding you back from achieving financial success?

This exercise is a great start to get you thinking about your relationship with money…is it a love story?

If it isn’t, it’s time to start nurturing your relationship with money and strengthening it because 
whatever meaning you are attaching to money is either drawing it closer or pushing it away. 

When you have a healthy relationship with money, you feel satisfied, not stressed out over it.

Remember, you are worth the time it takes to figure this out!

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    Glenda Barrington
     
    I am passionate about helping women gain the knowledge and skills to take control of their money, get out of debt....stay out of of debt and build (or create) a meaningful life while they do it!

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