Don’t Succumb To Financial Stress

Financial stress is common if you are facing economic distress as a result of a lost job, divorce, death in the family, or being over your head in debt. This can lead to feelings of insecurity, fear, anxiety, anger, and depression.

These feelings can cause you to continue to make poor money management decisions. These poor decisions can lead to even heavier debt loads, and start a vicious cycle that never seems to end.

If you reach the point where your feelings of helplessness and hopelessness become overwhelming, get the help you need. Talk to a friend, loved one, your doctor, pastor, a debt counselor , someone.

No situation is hopeless. With just a little guidance, a few well thought out goals, and emotional support from family and friends, you can take steps in the right direction. As with many obstacles you overcome in life, you will emerge with a new outlook, new skills, and best of all, a new feeling of self-esteem.

You may want to consider debt consolidation or debt settlement to pay off your credit cards. One payment, usually a lot lower than your credit card payments, can help you get back on track.

The well being of you, and your family, has to be your priority during times of financial stress. Make the decision now to learn how to cope, to make the changes you can, to stay focused and goal-oriented, and to let anxiety and financial stress go.

DMCC is a 501 (c)3 nonprofit organization committed to educating consumers on financial issues and providing personal assistance to consumers who have become overextended with debt.  Education is provided free of charge to consumers, as well as personal counseling to identify the best options for the repayment of their debt. To speak to a certified credit counselor, call toll-free 866-618-3328 or email

Teach Children Early About Money

Just as with many other life lessons you will teach your kids, it is important to instill sound money management principles in children. As you attempt to instill other good habits in your youth, do not ignore a vital ingredient: financial awareness. Many children grow to adulthood, lacking the skills and ability to handle money. This can lead to years of unhappiness and hardship.

When teaching your children about money, begin early. The sooner your children develop awareness, the better they will understand the realities of the financial world.

It should go without saying, but your best bet is to lead by example, practice what you preach. You must display financial soundness. Whether you  realize it or not, your children pay close attention to what you say and do. Chances are they will model their behavior after yours.

Save gift-giving for special occasions. Though generosity may seem like a good quality, dumping extra money into their hands, without adherence to a budget, can send mixed messages.

Allow children to control their own discretionary spending. If a child is to learn about money, he or she must sense some meaningful connection to it. Though the parents should advise their kids on sensible spending and saving, they should not dictate how their offspring handle their earnings. The decision should be theirs, on how money received is to be spent, or saved.

If there’s one common mistake when it comes to raising financially responsible children, it is an inability of many parents to properly regulate their own financial lives. Prior to the age of about twelve the average child lacks exposure to finances, except for whatever involvement the parent or guardian generates. Regardless of your own current situation, the way you handle your finances is critical in securing the future financial success of your children.