Financial Education Is a Two-Way Street

Financial Education Is a Two-Way Street

Lord knows, none of us is perfect.

Especially when it comes to handling our money.

We all have something we wish we could do differently.  Or something we wish we had done differently in the past.

Just for a change, rather than have me tell you how some of your financial stumbling blocks could be overcome … what if you told me what trips you up the most?

Share it with me by writing a comment below.

That way, I can be sure I’m not overlooking any issues where I might have a real positive impact on my readers.

For that, I thank you!



  • Beau

    Important question Sharon. When we share it blesses many others by being either a lesson, a confirmation, or a warning. Cashflow management is the most frequent issue I see with both individuals and businesses.

  • Rachelle

    Great idea, Sharon!

  • Rachelle

    Great idea, Sharon!

  • Rachelle

    Great idea, Sharon!

    • Anonymous

      Would you be willing to comment, Rachelle? As an entrepreneur with a houseful of kids, your input would be very valuable!

      • Rachelle

        Well, I can really relate to P.J. and Victoria with the question of hiring someone to help me in my business…
        My story is: In my 20’s I went as bankrupt as a 20yo could, went to CCC and emerged with an passion to save $$. Got married and have lived debt free since. We pay cash for everything. (actually we pay by credit card so we can keep our money for 30 days, (it used to earn interest! )then pay it off every month) I don’t believe that we have ever payed interest on a credit card. We live frugally and save to buy the nice things we want. We drive nice cars, have a nice home and take family vacations and trips. But we plan and save first. This economy though, has affected us as it has many. Financially we are fine, but it’s not fun to have to dip into savings for monthly living expenses. That just not how we’ve operated for 20+ years. So we are venturing out on making our own economy. Me with my marketing business, and Kraig with a really fantastic business venture that looks very promising. We are not going to just stand here, we are taking the bull by the horns and moving forward. We want to be proactive not reactive on this thing.
        Just like I see you doing Sharon! Keep spreading the word!

        • Anonymous

          Thank you, Rachelle! It’s so important to see that, once you get all the pieces in the right place, the big picture gets real clear. And that, when something comes along to disrupt that picture (like the bad economy), you have the mental resources and the sensitivity to know you have to act. In the majority of cases, people are so focused on never taking a wrong action that they take no action at all. They stay where they are … even if that’s not a pretty place. And all that guarantees is that nothing changes. Congratulations to you and Kraig!

          • Rachelle

            “people are so focused on never taking a wrong action that they take no action at all. They stay where they are … even if that’s not a pretty place. And all that guarantees is that nothing changes.” You are so right! Sharon! Or it get’s much worse. This is exactly were I was before Consumer Credit Counseling. I am so grateful that I had that experience early on in adult hood.

  • Martha

    Now I’m a woman, so excuse the reference to “feelings”, but I do think that foundationally our perceptions around this issue are related to the emotional baggage we bring to the table… So for years, let’s say, I tell myself that I can’t really “do” finance because my parents met in remedial math class (seriously : ). And then life changes, and I get to choose whether to live the same financial story or to re-write what I tell myself: e.g. “My parents may have met in remedial math, but now they control millions of dollars worth of budgets in their professional lives. I can do this. I choose to embrace (as Dave Ramsey calls it : ) my “emerging inner nerd.” And thus a NEW story toward finance is born… with that new foundation, I embrace all it takes to be successful in this arena, and I stop sabotaging and excusing failure in this area… And there you have it. : )

    • Anonymous

      Martha, I’m so glad you stopped by and shared a success story! That’s what I wish for everyone I interact with: the ability to clear out all the limiting emotional baggage … some call it ‘head trash’ … and move forward on a new footing, headed towards whatever is important to YOU. Congratulations!

  • Anonymous

    My situation might be a bit off track but here goes…I am over 50 (by a bit! Ha!) and feel as though my hands are tied financially. We have a family owned construction business that by all accounts is doing well these days in light of the current economy…we are busy. However, to compensate for the poor economy it takes 3x the amount of work hrs to produce 1/3 of income than it did several years ago…in addition we our raising our two grandchildren. So at a time in my life that I thought I would be building my nest egg for retirement, I am struggling to keep above water! I might also add that through the years we chose to invest in rental properties rather than stock market, IRA’s etc. The plan was to eventually sell the properties (that would have been about now in the grand scheme) however that is also no longer feasible in this economy. Would love your input!

  • Faymc

    Hi Sharon, My biggest stumbling block is allowing myself money to spend on things that I want. I am always willing to buy things and gift to others, but if I were to buy the same thing for me – that feels like an indulgence or extravagance so I don’t.

  • How about this… I’m in a position where I see the value of bringing on staff (VA’s) to handle tasks that would free me up to grow my business, but I still hesitate because the cash to cover them would come from the growth. I’m not risk averse, and still yet, I’m resisting a new cash outlay that will undoubtedly generate even more cash.

  • Duchessherri

    I read many different financial newsletters that tout the virtues of many different stocks. Some of them have great track records and they let you know their dumb picks along with the smart ones. But I am now almost 70 and wonder if I should get out of the market completely? Should I really buy gold and silver bullion? Should I invest in gas and oil royalties? Should I stay with dividend paying stocks even though their underlying stoick prices have fallen (some drastically)? Can’t afford to retire. Will be starting a new job in a couple of weeks even though I really don’t want to work outside the home – need the money, I think. How do I know if I have enough to live on when some stock prices are falling? Blessings & grace, Duchessherri

  • Anonymous

    I get impulsive and excited and make investments that I should have researched better, but didn’t really know how to at the time.

  • Financial matters have a heavy weight for me (and I’m sure for many others) so my biggest stumbling block is sensing the enormity of the situation…..and then ignoring it all together instead of taking baby steps to get on track. It is an emotional response rather than a rational one. (btw, I see this same avoidance in my patients as they approach making changes to their health and fitness)

  • Sharon, Before the housing bubble, we invested heavily on rental properties. Put too many eggs in the same basket and was ignorant of the coming bubble. We followed the wrong ‘guru’. Some gurus should be in jail. Here to say that the bubble burst, so did our huge investments.

  • My stumbling block used to be handbags, shoes, jewelry (pretty much anything that was shiny or had the MAC logo on it) Sharon. Thankfully I now know the emotional reason behind that and can/have created better habits. Great question Sharon!

  • Like PJ, for me it’s spending money for outsourcing to free up my time to allow me to focus on my business. I can ‘do it’ myself, so have a hard time paying someone else to do these things. Getting better, but it’s still a battle in my head!

  • Angelambrooks

    Money never seems to be enough for what I would like to do. We are blessed and live pretty comfortable. My goal is get debit free and we have been close several times but never seem to stay there long. Then spending on the needs for both business makes it a challenge to really bloom in “free” money that is not owed some where.

  • Where to start. When we started our business we were over our heads in debt. Then, we went further in debt to start the business. Although we made great money the first year, we enjoyed the fruits of our labor and invested into our home with a new sofa and flooring. In retrospect we realize we should have repaid the debt first. It felt so good to pay cash for two large purchases, a real sense of freedom. Now that the market has taken a turn, there is barely enough revenue to pay the bills. We have taken steps in a debt reduction plan and are accomplishing that plan. The problem is how do we ever get back to saving when we are focused on reducing debt and keeping the roof over our heads and food on the table?

  • My biggest stumbling block is that I was stuck for decades (emotionally paralyzed) and now getting older (most thinking or close to retirement time) I feel some pressure on my own shoulders, made by me, to be on make up time financially. My husband’s seasonal business for 25 years, “crawls” us through his 6 month down time (no work). We see finances totally opposite–he sees us doing well. (I have however graduated from chasing the shining objects).

  • Jill Taylor

    My question, Sharon, is similar to PJ’s and Victoria’s – how to know when it is wise to bring on staff. Is there an easy formula for current income minus expenses and percentage of income left to know when it is safe? And what about the question of paying down debt – it would be important to me to factor this in as well. Is there a ratio of debt to yearly income it would be advisable to be at or below, before hiring any staff?

  • Starting out in business, I borrowed money to advertise. Now I know that wasn’t smart. What I’d do differently is put that money towards developing skills I needed, start small and grow.

  • Great question Sharon. Mine is similar to Lily – I get excited about something & will go for it, without doing the proper amount of research that is sometimes required.

  • james samy

    Money was not enough the day I started making money. I started working at 17years old and money was the “in” that my family expects every money I collect my paycheck. That’s when I told myself that I have to change my life and look at life differently.

    But after years pass, I was still in the same place … living paycheck to paycheck and accumulating in debt. Just 3 years ago after listening live to Dr.John Demartini, I changed my way of looking at money and started saving. But till today resistance is trying very hard every month to stop me from saving. Therefore, I am still a child crawlling to make something good in life.

  • Great question, Sharon, and thank you for the opportunity to share with you! Do you feel the housing market still has much further to drop? Some feel certain that “depression” may hit harder than the potential of hyper-inflation. In light of that, some recommend renting instead of buying … how do you personally feel about the housing market?