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filing bankruptcy
money situation
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family finances
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seniors
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Where Did It Go?
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Where Did it Go?

So how well do you know your money situation? This question needs to be asked, if not on a continual basis, at least this once. Today, it’s so easy to spend money without thinking. Credit cards, for one, let you spend instantly, on anything your heart so desires. We now have auto-draft and auto-pay for bills and recurring expenses.

I know a lot of people do know what goes on with their money. I know that some of you are good with the family finances. But, there are way too many people who don’t even know where their money goes. I’m not talking about a candy bar, or coffee, (which is still important, but slightly smaller.) A lot of times, its people that have more money coming in than going out. This is the select few who have the income to live on, but don’t really pay attention to it.

I hear every day about a new celebrity or sports star that is filing bankruptcy, or flat broke, with nowhere to turn. Excuse me, sir, but we’d love to have some of that money you just wasted. Anyway, this is the point. You need to know your money, front and back. It’s not enough to get a paycheck and put it in the bank. It’s so easy for someone to steal your information now, and get into anything personal of yours. If you don’t know what you have in that account, how are you going to know when something is missing?

You need to get together with your significant other, for those who are married, and get on the same page. Ask each other questions about what the goals are, where the money goes, lay it out on the table with each other. This will make everything smoother, and you can each feel more confident and happier when the direction is set, and safer, knowing each part of the finances.

Those that have advisors, are you keeping an even stricter eye on them? Have you heard all these stories about advisors stealing client’s money? How about the seniors? When they find out they don’t even have enough to live on during retirement? You wish so bad that you could help them. But, this could be you.

You need to take control over your finances, make a personal presence felt. It’s your money, after all. I’m not saying don’t have an advisor, by all means, they help so much. What I am saying is that you have to have your eyes and your presence felt around your money, and the people dealing with your money on your behalf. You don’t want to end up at the gas station with it pouring rain, and your check card is being declined.

All your investments need to be learned by you, you have to continually learn and watch how your money is working, and you have to be the one that makes decisions about your money. So, go introduce yourself to those dollars again, and take back control over your own money.


Street Talk

You're right, it's easy to wonder, where did it go?! Paying attention matters.

Reply
  about 5 years ago
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