When we experience financial loss, we feel pain. Money is a very powerful word for most people. And when our cash flow is disrupted or doesn’t exist, or when we lose things we have accumulated, we feel it. Therefore, one of the most beneficial things you can do after a disaster is to restore your financial house once it is in ruins.
After our landslide, we found that we could have used more guidance in this area. I would have welcomed a “Disasters for Dummies” style book at the time so I thought you might like to meet someone who can give you sound advice too.
That’s why I asked Jeanette Pavini to join me on my podcast Rebuilding Your Life: Moving from Disaster to Prosperity. Jeanette is a consumer and investigative reporter specializing in saving money. You may already be familiar with her as she has a consumer show called The Real Deal, has appeared as a guest on The Today Show and USA Today’s video network. I get to work with Jeanette regularly as she is a family member on Hallmark Channel’s Home and Family.
Jeanette and I had a chance to talk on set which helped me gain an insight into her passions for cash and savings. Jeanette told me that she had come to the realization that Old World wisdom, tips and stories from her Dad have a timeless appeal, and mix well with her research and contemporary recommendations for thousands of articles on the topic of savings. She is in the process of capturing those tidbits for a new book.
One of Jeanette’s core philosophies is that we have lost our relationship with cash. That’s unfortunate because we are much more careful about spending when we have to use actual money. It is easier to stay on a budget with cash. In sharp contrast is our overuse of credit. Jeanette acknowledges that credit can be helpful at certain times, however, all too often we become dependent on credit in a negative way.
Her comments make for very sound advice when you are in recovery mode so I enjoyed my conversation with Jeanette. She also shared a few resources that may help you. She recommends Debtors Anonymous, not only for the information, but also the sense of belonging with other like minded individuals. And if you are trying to wean yourself from habitual use of credit, she recommends the Consumer Credit Counseling Service of San Francisco. They help you bring down your interest charges and get you on a plan.
There were several good takeaways: Do not use your retirement money to pay down your bills. Pay more than the minimums each month. Find the extra dollars to pay those extra amounts in areas of flexibility in your budget and leave those credit cards at home when you go shopping.
Come meet Jeanette at Rebuilding Your Life 1008 Jeanette Pavini on Money. The URL is ssherayko.audello.com/podcast/2/. Or http://goo.gl/OkAtqk.
You too can rebuild out of ruins and Jeanette has some very practical advice to help you do just that.
To Your Success,