Moms and Money Part 1

OK ladies. This is a real, honest, serious, and vulnerable blog about money. I’m letting you all up in my business!!!

Whew! Here we go…

After experiencing a series of financial successes (and failures) in the last 2 years, I want to spend the next few blogs sharing what I’ve learned on the topics of money, ways to save money, and how to get through the lean times.

It has taken a lot of creativity for Brandon and I to keep our heads above water and I could go on for pages and pages about how we made it work. We made it through these last few years virtually unscathed, and are now in the process of buying a house. Sure, we have a few collections we’re cleaning up on our credit. Yet, we were able to live on less than $30,000/year, making nearly all of our payments on time, and without taking on any significant debt. With that said, in this blog I want to share perhaps the most important lesson I learned in the process. (Mainly because I wish someone would have shared it with me earlier on). Here it is:

“BE HONEST ABOUT YOUR FINANCES!” – Suze Orman

The amount of money you have (or do not have) does NOT define who you are! When my family’s finances began to slump, I found that it was very hard for me to face all of our bills (I so wish I had!). I was embarrassed about our situation and I was intimidated by the voice on the other end of the line (a popular tactic of bill collectors/”customer service” agents). If only I would have made a few phone calls; talked to the companies about our medical bills and asked for help from our credit card company; we probably would have made it through our slump with NOTHING negative on our credit. Luckily, in the midst of self-pity, I heard a little snippet by Suze Orman at the end of 2008; right before the economy took a nose-dive. “Be honest about your finances!”

As we began the year, we knew we needed to be honest with our selves, our friends, and our creditors. Instead of cringing every time the phone rang (it’s amazing how many times in a day they will call you for one teeny, tiny medical bill), we picked it up. When we couldn’t afford to pay our cell phone, electric bill, or car payment on time, we were proactive in making payment arrangements. We discovered that most creditors are willing to make arrangements: they just want to get paid!

So, if you’re feeling stressed out and bogged down by all your bills: Please, learn from my mistakes, and remember: The way out starts with being honest. Gather your bills. Develop a plan. Make a call and answer the phone.

In short, I know this has been a tough year for a lot of people. I don’t know exactly where you are, but I know there are others out there who are just like me. The purpose of this blog is to provide some practical steps and HOPE for those who need it. If you connected with this blog in any way, please keep checking back weekly for my additional “Moms and Money” blogs. I will be sharing little tricks that I’ve learned to save money, as well as interviews with other moms who have “been there”.

Please feel free to leave a comment if I’ve been able to help/encourage you in any way.


Leave no mom behind!

Allison


*I am by no means a professional financial advisor or trying to give “professional” advice in any way. I am just sharing some things that helped me through a tough time. If you are in a place where you don’t feel like you can take care of things on your own, please ask around and talk to a trusted financial advisor.