Recently I have kick started my diet and this has made me moodier than usual. When looking at my net worth and my budget I was real depressed at my current financial situation. Between school and credit card debt it seems that I will never have a positive net financial worth. I have also been depressed because I have seen the housing prices skyrocket in my area and I am not in a position to responsibly afford a home. I could probably afford a home using a risky loan ( interest only, with a high debt to income ratio), but I don't want to bet on the fact that my income is going to go up nor will I bet the housing prices will continue to skyrocket. Today I looked at my finances and I decided to look at the positives. My total credit card debt has already been reduced by more than 15%, by looking at my credit card reports I was able to focus on what bills to pay down first and I increased my credit score by over 40 points. I have tweaked my budget and by transferring my credit balance to reduce the balance at least another 10% before the end of the year, and I have increased my emergency and retirement savings. If you have problems with you finances it is better to focus on the progress that you make rather than comparing yourself to your neighbors or by focusing only on financial milestones.




Great post...
Posted by: ncnblog | August 29, 2005 at 01:55 PM
I agree. People can get down regardless of where they are in their financial progress. My wife and I have done several things to increase our streams of income and make progress towards our goals. We started selling things on ebay to make some extra money. I do some contract work and my wife started teaching part time. We try to stay positive even when things get tight. It's hard because we all know there's no insurance for success. But each step towards it counts.
Jerry
www.leads4insurance.com
Posted by: Jerry | March 21, 2008 at 11:16 AM