The Corrosion of Your Finances Due to Family Decisions

In life there are always consequences with any decision. We learn while we are young that our parents often sacrifice a lot for us to grow, learn and develop in a way they make not have had the opportunity to do.  We saw our parents get up every morning and got us ready for school and off they go to earn a living.  It used to seem like a fairy-tale, our parents would envision an amazing future for their hard work. They wanted to see that hard work turn into a good quality of life, family vacations, Christmas, Birthdays; essentially everything we ever wanted began with those experiences.

As we become adults and our parents are older, we may even have grand-parents living, older cousins, siblings, even Aunts and Uncles. We may see illness set in with one or more of those members of our families. We may often be called to help them in some way. Life is challenging when circumstances pull you in many directions and your income can only go one direction and maybe with force two directions. Credit cards can be used excessively because of hospital bills, prescriptions; maybe even joblessness becomes the results due to illness which can take a well-planned financial arrangement to the tank very quickly. In situations like this, you can suffer with late payments to credit cards and loans. Bank accounts can be stretched with over-drafts and non-sufficient funds; it happens to good people.

What do you do? How can you restore a situation gone out of whack? The answer is careful re-organization. A lot can put a hurting on your finances. When family members need you, it can have an impact on your credit. One of the first things to do is to take an inventory of what you have that has been impacted. Keeping a positive attitude will make all the difference when you start to address where you are. Rebuilding your credit will be a necessary action because getting back on sound footing is what your parents put in your path to achieve. It takes a commitment first! Making a commitment is the key. We make promises to everyone else, but often leave ourselves out. Make 2014 your year to commit to correcting these things. You deserve it!