What would you do?

      What would you do if you awoke one morning to see the floor of your house was covered with a strange substance? Would you ignore the problem and continue your daily activities? Of course not! You would clean up immediately! Especially if you have any concern for you and your family!  
     
       This may seem like a silly question but statistics claim otherwise. According to pewreseach.org, more than 70% of the families in America live under financial stress. These financial problems are like a toxic substance spreading among American families. The mismanagement of personal finances has led to many problems, including marriage problems, divorce, and mental stress illnesses.
     
       Whether you know it or not, a significant percentage of the people you know are worried about their personal finances. Some are in serious trouble, facing mountains of debt, considering bankruptcy, or being hounded by lawyers and collectors.

The solution is simple: Develop a plan to clean up the financial disease in your life. Regardless of your situation, the past is over. Let’s work with your present to change your future.  A good plan to get out of debt has 3 steps: Communication, Commitment, and Implementation.

1.     Communication. Without effective communication between spouses, it will be hard for you to succeed. Communication is the key to encourage your wife or husband to get involved. Do whatever it takes to get your spouse interested in the benefits of starting a plan to get out of debt.

2.     Commitment. This is the hardest part of your plan. The level of your commitment will make the difference between failure and success. Part of your commitment is establishing financial goals and setting dates that will hold you accountable. As part of your game plan, you need a complete financial analysis that will help you develop realistic goals.  

3.     Implementation. Now you are ready to start your plan with a complete assessment of your financial situation. Sit with your spouse and evaluate your current financial situation. You need to know where you are financially and what you want to accomplish together.

       My next article will discuss how to build your financial assessment and how to develop a game plan to reach financial freedom.
       For additional details about this article or for a free financial consultation, feel free to contact me by email at eliud@eliudrodriguez.org or by phone at (478)-737-5089.
Eliud Rodriguez, is the Director of Financial Consulting Ministry and an active member of the Hispanic Foursquare Church in Warner Robins, GA.

What is your plan?

Have you ever wondered how so many athletes end up broke after earning millions of dollars? It is very impressive how, after reaching such a high standing, everything falls a part in a matter of years.  According to an article that came out last year in Sports Illustrated, the majority of sport players are facing financial problems.  The article illustrated that 78% of NFL retired players end up in bankruptcy or are in a very tough financial situation due to no job or divorce.   The statistics show that 60% of NBA players end up broke after 5 years of retirement. 

What it is astonishing about this is that the athletes that reach the professional level are not regular people; these are bright intelligent guys, above average with special skills and abilities.  In most cases, they have someone that manages their career and helps them in their daily decision making.

 An article at BusinessPundit.com on May 18, 2009 talks about 25 athletes that made millions, some of them over $20 million, and today they are broke.  All with a different stories or reasons attached behind them but the result are the same, no money.

Why do they end up broke?  How can they spend this amount of money in less than 5 years? The response to this question is very simple, a money management problem. The problem is that they were not taught how to handle money. And the problem is even bigger when you don’t know how to handle money God’s way.

People get excited about this issue, but that is exactly what is happening to 70% of the Americans that don’t know how to handle their money. In reality, how much money you make doesn’t matter, instead what is important is how you manage your money. If you follow basic biblical principles on how to handle money God’s way you will be successful with money. It’s not about how much you make, but it’s about management and habits.  Dave Ramsey said, “to become debt free is 20% head knowledge and 80% behavior.”

In summary, this is what is happening to 70% of the families in North America. You need to take this as serious as it is. You need to take action today and develop a plan to get out of debt, save money, and get ready for an emergency. You need to start TODAY. Waiting or not making a decision is the wrong decision. 

If you would like to hold a financial conference or a complete 4 sections of classes at your church or community don’t hesitate to contact Eliud Rodriguez for more information.  Phone (478) 737-5089.

Leave your comments.  Subscribe to our blog today.  

Follow me at www.twitter.com/eliudrdgz