Credit Cards, Debit Cards, Your Scorecard

Hello friend, let’s keep this real simple and straight to the point. Many folks feel lawyers always have money, or at last will always do. Chances are you probably thought that way too, until you became one. Now, as you may know, the reality has never been more far-fetched. While it is true that lawyers can indeed have money, realistically, those who do appear to have enough money to do as they please are usually those who consciously take charge of their finances.

Many lawyers erroneously believe they have a duty to impress society; that they have to put themselves on a pedestal that appears highly exalted and therefore they cannot allow themselves to show any trace of human failing. Have you ever felt that way or seen some lawyers act that way? Some other lawyers have allowed clients to put them on that pedestal and therefore feel the need to keep up the charade of being completely immune from the tolls and stresses of everyday life. Either way the result is an increasingly personalized reluctance to show interest in seeking advice and assistance when required.

Admit it; your problems are not unique. This is a crucial starting point to overcoming your reticence to seek advice and assistance when everything screams that you need it. A staggering amount of all practising solicitors in this country are close or at least prone to severe financial difficulty.

You are not alone in having financial problems and there is no disgrace or shame in it. Refusal to do something about it however may result in great shame.

In this technology defined world that we live, what with cashless transactions, e-buying and whatnots, the ease with which lawyers reach for their ATM Cards, as does other folks is really alarming. Check yourself against this statement; you will likely be nodding your head in agreement. Technology should be made to work for you, not against you.

There is a particular month end phenomenon common with most workers, one which makes them suddenly unhappy and unenthusiastic. Its major feature is a scowl that marks off the face of those involved. To avoid membership of this class of workers, be sure to think more than twice before extracting that credit card from your wallet next time you feel like just doing so.

And there’s more you have to do.

Take a few minutes and sincerely score yourself.

1. What kind of alert messages find their way more often into your phone? Debit alerts or credit alerts?
2. How often do you use the services of an ATM compared to the services of a bank teller?
3. Which happens more often with you, buying or saving?
4. Do you spend more than you earn, spend just about what you earn or spend less than you earn?
5. Do you buy on impulse or buy after due thought?

If your answers to most of these questions tend towards the first options, then I dare say it’s about time you gave your finances more than that casual mental thought. You need to take a conscious effort to define a financial behavioural pattern to which you will commit rigorously. Your financial freedom and indeed the soundness of your practice may well be delayed until you do so.

Friends, what say you? Agree? Disagree? Further helpful insights? Let’s hear from you! Drop your comments below.

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