Savings Makes Good Sense

A colleague of mine was always running on empty financially it did not matter that her earning power was substantial.

She always came up short to cover her expenses and always looked for a short-term loan while being constantly stressed by her financial situation.

One day I said to her, “You make a good income and you are single, why are you always in a chronic state of financial disorder, what’s your problem? She replied angrily, “I am a bad money manager and I’m lackadaisical about a budget or sticking to one, the truth is I have no idea what I am spending or spending on.

I am truly in a financial mess, I am broke and I need all the help I can muster”

My response was “its all about not spending more than you earn and debt versus savings; so carry out an evaluation of your lifestyle. Since you do not have a financial advisor here is a card to my consultant, you may want to try this kind of service to gain advice to decrease your financial distress”.

Recently I was in the airport waiting for my departure when I was hugged from behind and heard someone say thank you for saving my life and my sanity. I turned to come face to face with the colleague I had not seen for about a year and a half. Here is the substance of her chat.

She said I am in a much better space now; I took your advice and got some financial help. You were so right I was spending far more than I was earning, my lifestyle was lavish and I was not only drowning in debt but also depressed and about to give up. You are my guardian angel.

Let me tell you I am proud of myself because as it stands right now I am more informed and have become financially literate. I have eliminated my debt burden about six months ago and it was a considerable amount; I’m into savings now and I feel good.

Let me share what I’ve learnt she continued the trick is living strictly within your means and saving in the right financial vehicles.

Today my finances have turned around and my financial trajectory is on course with my goals. I have some stocks, mutual funds, few assets and CDs. I no longer rely on credit and small loans. You’ll also be pleased to know that I have an emergency fund with some cash set aside for emergencies.

My addiction to constantly borrowing is definitely cured and presently I have no need to accrue any short-term debt.

I currently am working with a plan and also I plan ahead; within a year I am intending to purchase an affordable Condo. So I am keeping my eyes open for a promising deal.

Now I keep track of everything to do with my finances, I am dedicated and have automatic transfers to a savings account and my investment purchases, I love the easy way this helps me build my financial portfolio. It’s just ideal.

I won’t go back now I feel in control of my financial future. My financial situation has taken a leap for the better and its all due to your frank comments and you being honest with me. Thanks again, love yah.

John Beckles is a blogger at PYD, and writes about finances, with a focus on financial well being. John shares opinions derived from years of successful business, money management and lived experience. The content herein is not to be interpreted as financial advice. Always consult your professional financial advisor