Financial Freedom! From Your Kids?

2012 is a transformational year. This is the year to seriously put a plan in place to become and remain debt free. When we think about debt we usually talk about things like mortgages, cars, clothes and things. We also talk about credit card debt and other types of loans. There is another type of debt we need to look at and become free from. Our kids. What! Not those little darlings we brought into the world.

This week I had an aha moment. My grown children owed me and my husband money for a variety of things. Cell phones, gas, hair. A dollar here, 30 dollars there. “I’ll pay you back mom” they say. When I ask there’s some mumbling that goes on but I never get anything. I was feeling the stress of being a bill collector. I was complaining, feeling unappreciated and wondering where I went wrong. Then my moment. I realized I love my children very much and want the very best for them. I also realized I was part of the problem. I was disabling my children’s ability to be self sufficient, responsible citizens. By not allowing my children to stand on their own and fall if they need to, I am stunting their growth as a human being. After all we didn’t we learn by our mistakes?

Which do you think is worst? Should we take care of all of our grown adult children’s needs or let them live by their decisions both good and not so good?

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“Your Journey…It’s All Connected!”

Naomi D. Jones – The Life Coach RN

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Escapades of the Lost Car

OMG! My husband’s car broke down unexpectedly and it’s a wrap for the car. Our mechanic told us the bad news. Its over! It’s not worth it to fix the problem, which is the engine. It was a 1998 with over 260,000 miles on it. Well, after we said our goodbye’s to our old faithful car, we began the process of finding another car. Just like anyone else we had to look at our finances while we take into consideration the economy in all of it’s instability.

The first thing we had to do is decide is “What can we afford?” This gave us an opportunity to assess, fine tune and re-evaluate our budget. This turned out to be a good thing. We re-evaluated our debt reduction plan, re-assessed our daily and weekly and monthly expenses and incorporated some of our retirement plans. All of this would allow us to see how much new car we could afford.

Now some of us are in the situation where we don’t have to compromise with anyone. Some of us do. In my situation I had to compromise. My husband had his heart set on a particular car. My thought was to get a less expensive car and wait until we paid some of our debt down and then get the car we really love. Well after much conversation, the compromise was a combination of the two. Have a debt repayment plan and get the newest car we can afford to reduce the possibility of car repairs.

All is now happy on the home front. We were able to get the car we wanted and could afford. The debt repayment plan is up and running, and we still have our marriage intact.

Lessons- sometimes unexpected needs come up.
– approach your financial situations logically.
– compromise when necessary but stay true to your priorities.

“Your Journey…It’s all Connected!”

Naomi Jones – Life Coach RN
www.LifeCoachRN.com

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