Causes of Financial Difficulty

Understanding the cause of your financial situation is essential before you can address them or avoid them in the future.

Cause 1: Lack of planning

Many people don’t take the time to examine their financial picture on a regular basis. If you have a partner, it is equally important to be able to discuss the family finances and have shared goals. Having a written financial strategy is important:

Planning what to spend and what to save
Making sure that expenses don’t outpace income

Writing and following a plan takes discipline, and we can help.

Cause 2: The credit card trap

Credit card debt is often a major cause of financial difficulty. Credit is easy to get, and people often have several cards and don’t keep track of all of their purchases. It can be all too easy to use credit cards to supplement income or replace a savings account. Before long, they’re faced with mounting debt and hefty interest rates.

We can help you develop a plan to get out of the credit card trap and avoid it in the future.