Need a quick answer to a career or personal dilemma? Career and life coach Marielys Camacho-Reyes will answer your concerns in her new column “Ask the Coach.”
Three years ago, my husband and I made couple of bad decisions that left us financially unstable. We have been doing our best to stay current with our bills and everything else but honestly, I can’t take it anymore. We are basically living paycheck to paycheck. We only have money for the important stuff like bills, food, transportation, etc. Every time I want to buy something for myself (shoes, clothes, etc.), my husband gives me the ugly look. I understand that we don’t have money for unnecessary purchases, but it makes me upset that after working hard for two week, when the paychecks finally come comes and we pay the bills, there is no money left for us. I don’t know what to do about this. I would like to start saving money but we don’t even have money for that. What should we do about this situation?
Tina and Carlos
Dear Tina and Carlos,
I think is time for you guys to seek the help of a financial advisor. This issue will be easy to fixed if you can learn ways on how to properly manage your money. Getting rid of bad financial habits is somewhat difficult, but not impossible. Once you get the help you need, the next step would be to start building a financial “egg nest.” The important part here is not to look at that egg nest as money you have to spend in shoes or clothes. No, that’s not the purpose for this money. This money is for you and your husband to use during emergencies. Every family should have a financial egg nest, so start building one right away. There are many good financial books that can also help you manage your money correctly. Invest in one of those books and get some ideas. Once you learn how to manage your “in” money, you will be in a better place to manage your “out” money. I am not a financial expert and for that reason, I would feel more comfortable if you talk to a financial advisor about this. Just give it a try, and you will see how your financial situation will start improving considerably.
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