July 13th, 2020

​[Lessons from a Recession] The Power of Taking Ownership

This is a continuation of a series about lessons I learned from the 2008 recession.
One of the most impactful things I learned actually came about year or two later, but it was still related to the recession which had kicked my butt.
The short version of what happened is that one evening my (now) spouse basically told me I was being stupid with money.(Not the exact words, but that's what it boiled down to).
It was a truth bomb, and it stung.

It also changed my life.

That conversation woke me up and became a catalyst for realizing that I am the one who is responsible for how I manage my money, and that no one else is going to magically save me from myself or bail me out financially.

It's like the blinders came off and for the first time I could see that if I really wanted financial security and freedom it was up to me to make it happen and not somebody else.

I'm sure from the outside that was a 'no kidding Captain Obvious' realization, but it was a real light bulb moment for me! 💡

Somehow I had absorbed the idea that it wasn't fair that I should have to discipline myself with money.

I felt like I should be able to do and spend what I want without any consequences.

​That somehow I would be rescued or that someone on a proverbial white horse would ride in and save me and that everything would somehow magically work itself out. (Even though I'm horribly allergic to horses. That should have been my first clue that was a terrible plan! 🤧)

And I still believed this (though not consciously) even after I had gone bankrupt!
I don't fully know or understand where those beliefs came from.

What matters to me is that when I chose to take ownership of my finances and claimed 100% responsibility for myself, everything changed.

Everything.
Though it didn't happen overnight, that decision was what took me from being worried sick about my finances to getting out of debt, having a rainy day fund and a paid for home.

It profoundly changed my life.

If I hadn't made that decision to take ownership of my money, as sobering as it was, I don't know where I'd be right now.

Probably still repeating the same patterns of overspending, going into debt, worrying about how I'd pay my bills...or worse.

I see my clients go through a similar journey.
Often they come to me when things feel overwhelming or they are buckling under the stress of their finances and realize they need help.

It is an act of self-love and courage to ask for help and I applaud it. I sure needed it when I got started!
When we start working together and they begin taking ownership of their finances, even if it's one small step at a time, the needle starts to move for them in profound ways too!

They hold their head up higher, they pay off debts, they raise their credit scores, have money in the bank, avoid costly money mistakes, heal relationships, and they feel richer than they have ever felt.

All from taking ownership of their finances and working toward their goals and dreams.
No matter what their background or circumstances.
​
It's a beautiful thing!
Wishing you health and abundance,
Kathryn