Getting Out Of Debt: Why Use A Financial Advisor?

I hate exercise, but I know I need to stay fit. I watched lots of videos, read books, listened to tapes, joined gyms, but never followed through. I knew I was good at keeping my commitments to others, but not to myself. It was too easy putting of my commitments to myself. I found the answer was a personal trainer. I would keep my commitment to show up, but that’s all I had to do. My trainer was responsible for putting me through my paces and ignore my  whining, complaining, etc. I ended up in much better physical condition because I came to terms with the fact that I couldn’t change my life without help.

In life, you have to accept that you are good at some things and not at others. Remember, Michael Jordan was one of the greatest basketball players of all time, even he discovered that baseball wasn’t his cup of tea―unless he found worked with a fulltime trainer.

Getting out of debt is the same. You can read all the books, get all the free advice, start but not complete a task you really don’t enjoy doing. That is where a financial advisor comes in―because for some people, it’s just too easy to rationalize not following through for themselves.

Man counting banknotes in wallet

Why are you in debt? Do you know how you got there? Are you and your partner/spouse on the same page about money? If not, it’s easier if an objective third-party is involved in the process. Often when I meet with a couple and make a suggestion, one partner says it’s a great idea and the other says, “I already said that, I thought that was what we should do.” To which the reply is “You did? I don’t remember that.”

To get yourself out of debt, you need collect paperwork showing what you owe, what the payments are and consider how much income/assets you have to work with to correct your problem. This is where an advisor/coach can be a big help.

Most people are emotionally invested in their money. Some can’t get enough and won’t part with a dime (miser), then there’s the person who has a dollar and spends two (spend-thrift). My mother was a binge shopper; whenever she felt stressed, she would shop. She did that knowing that my father is unhappy with her spending habits. Others feel uncomfortable about money and are not sure what to do or where to start.

Work with a non-judgmental  advisor/coach to figure out a plan that will work with who you are, what you have and how you can get to where you want to be. Having goals with regular checkpoints and reviewing how well things are working on a regular basis makes the process much easier for everyone. An experienced financial advisor can help you create a budget, analyze and prioritize debt, create a sustainable long-term financial plan; all to get you back on solid financial footing. The light at the end of the tunnel may not be a train after all!

You have a problem, I can help. As long as it is not physical exercise!

Anxious woman going over her financial debts

Our team of financial advisors serve the community in Poulsbo to help you pay off debt with a strategic course of action. We also offer retirement incoming planning and private wealth management services in Washington, serving the residents of Bainbridge Island, King County, Pierce County, and Seattle.

Contact us today for information.

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