Pause in financial mess

I’m Miriam Neff with Wise Women Managing Money-and I’m Valerie Neff Hogan

M When we face financial difficulties, a natural reaction is to want to fix the problem immediately. We may be even tempted to take out a loan or credit card to absorb old debt, or a home equity line or refinance a mortgage to absorb that debt. 

But this doesn’t change the PATTERN OF BEHAVIOR that led to the crisis to begin with.

V  A medical matter, job layoff, or beyond our control event, may still require a change of behavior, but consolidating  debt and not changing  behavior when there is a pattern of overspending just leads to more debt.

M It’s best to look at AND address the root cause.You might not like what you see, but that is where a real solution begins. Spending changes required.