Statement of Financial Condition

by Ryan Yates on September 11, 2012

Make a Statement . . . know your finances.

What a title! Words with such deep and profound possibilities.

Every week I receive an automated email from Sharebuilder detailing my current account status. And, of course, the subject line of each email reads, “Statement of Financial Condition”.

The thing is, I’m on Sharebuilder so much each week, I don’t need to rely on the monthly email to tell me what state my account is in.

The same can be said for my bank account, my savings account, and practically all of my accounts relating to money I have, money I owe, and money that’s owed to me. You might say I’m an “Account Junkie”.

My personality is one that needs to know what’s coming my way. Good news, bad news, or no news, I want to know about it as quickly as it happens.

But this morning, as I read my Statement of Financial Condition, I began to daydream and wonder about people who aren’t as addicted to knowing about their financial landscape as I am.

Do they not care? Are they just procrastinating? Are their finances in ruin?

Why It’s Important

So the question nagging me right now is this: Why is it so blasted important to know the condition of my finances?

What I’ve come up with is this, the potential for financial trouble (or even financial ruin) is far too great to keep ignoring the health of my fiscal heartbeat. Sure, many readers out there will push back, puff out their chests, and say something to the tune of, “I’ve never used a ‘budget’ and I’ve always kept my money in order.”

But I’m going further back than budgets, back before you even knew what a budget was. Do you know how you’re doing with your money? Are you sensitive to the pulse of your bank account?

Sure, some people may not need a physical budget spreadsheet, or newer software like Mint.com, but the tools you use or don’t use are of little consequence when speaking of the desire to care about your financial life.

Relying on Others – The Danger

I’m a rather independent person. I prefer accomplishing things through my own skills and know-how. If I have no know-how, I enjoy learning.

One thing I’ve realized after being in Eleuthera for almost 2 months now is that I’m going to have to become knowledgable with just about everything. Working on engines, changing brake pads, mixing concrete (not the stuff that comes in bags), carpentry – the list goes on.

If not, them I’m at the mercy of others – and let’s just say that customer service is “lacking” here on the island, not to mention the cost.

When dealing with your finances, it’s important, no matter how much help you may need, that you remain involved. Don’t just sit on the sidelines. Don’t take someone else’s word for it. Don’t just wait for the monthly emails.

Stay tuned into every aspect of your money; where it’s going, where it’s coming from, where it’s leaking, and where it’s piling up.

One Last Cliche

Never give up, never surrender!

No matter how deep in debt you might be, no matter how hopeless your situation might feel, no matter how boring or frustrating you may feel, don’t stop caring about your financial life.

Don’t wait until things get ugly before you jump into action. Be preventative. stay ahead of the rough stuff by keeping up with everything that has to do with your money. And remember, it’s hard to care too much.

Photo By || UggBoy?UggGirl || PHOTO || WORLD || TRAVEL ||

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