Waiting for the Big One – Avoiding Financial Disasters

by Ryan Yates on March 21, 2012

Are you a financial disaster-in-waiting?

Whether it’s an environmental or personal catastrophe, have you ever noticed how some things only change after a disastrous situation?

Rules change in sports after enough people experience the same injury, city systems were changed after the 1906 firestorm in San Francisco, and many addicts only seek help after an overdose or other near-death experience.

I don’t know why, but sometimes it’s hard for us to see the need for change without hitting rock bottom. That’s why PF bloggers write, to help you see the need for change and give you advice to do so. Many personal finance bloggers started writing because they wanted to share their success with the world – after they climbed up from the depths of debt.

So, instead of writing my normal ‘tips for success’ article today, I’d like to ask you to truly evaluate your financial situation. Like a sort of personal financial reflection.

What’s Wrong with This Picture?

Growing up, I used to love those “Highlights” magazines; especially the part of the magazine that asked you to look at two very similar pictures and identify the differences. Actually, I’m 31 and I still love those challenges.

The more you read about personal finance strategies in books, in magazines, and all around the web, you’ll soon realize that you’re not the only one who’s gone through financial challenges. There’s a good chance that other people out there have overcome financial woes that look strikingly similar to your own.

It’s time to compare the pictures. Ask yourself what it is that makes the picture of your financial life look a little different. Identify where you’re going wrong with your finances, compare successful strategies with your own situation, and implement those strategies in your own life.

Here’s the point: don’t wait until you experience a financial catastrophe that drags you to the brink of rock bottom before you wake up and make the necessary changes.

If you eat greasy, fatty foods your entire life, you’re going to have heart problems. If you’re in the path of the tornado and you don’t move, it’s going to tear right through you. And if you aren’t making smart financial decisions, you’ll eventually experience money trouble.

What Are You Waiting For?

Don’t wait for a financial ‘overdose’ before you seek some help or make necessary changes. Even if you have to start small (saving just a little, cutting back a little each month on your spending, putting a small amount away for college) starting with a little is so much better that avoiding the situation altogether.

If you drive towards a cliff and close your eyes to ignore the danger, you’ll still drive off the edge.

Instead of procrastinating and lying to yourself that everything will be fine without changing anything – Wake Up! Stop waiting for the right time . . . the right time is right now.

Whomever you are reading or listening to for financial advice, find the financial strategy or system that fits you best (as long as it’s not some sort of a scam) and implement the principals – today.

Preparing for the Storm

Everyone should make plans to live financially secure, just as you would secure your family when a hurricane is approaching. Make no mistake, the storm is on it’s way. It’s at your doorstep when you walk outside, it’s on the web when you turn on your computer, it has saturated every form of media.

We’re bombarded with chances to spend money. We’re constantly told that we deserve new things, bigger toys, and better stuff. Prepare and implement your financial security system while you have the chance.

Don’t wait until it’s too late.

Photo By emarquetti

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