Lying to Yourself About Money?

primerica-lying-to-yourself

Turns out Americans aren’t very truthful about how we spend our money, how much debt we have, and the amount we are really spending. In fact, most Americans lie about their money to the very person who is trying to help them: their financial services representative. In a recent survey of financial services representatives, 65% said their clients lie about living within their means; 44% aren’t honest about their debt, and 36% stretch the truth about financial risks they are taking.* Are you lying to yourself (and others) about your finances? If so, take these steps to offset financial disaster.

1. Start now. Too many people wait too long to get serious about their finances. Put savings on autopilot and stop using credit for day-to-day expenses.

2. Consider a financial makeover. A Primerica representative can help you with a free, confidential Financial Needs Analysis. It provides you with a snapshot of your current financial situation and can help you “free up” money to reach your financial goals.

3. Pay down debt. If you have to pay it off slowly, do that—but start today. Getting out of debt is the first step on the path to financial sanity.

4. Spend less. Commit to living within your means. Try out a cash or debit-only lifestyle to help with the transition. Habitual overspending only hurts you and your financial future.

“Learn to Stop Worrying – and Start Saving,” Finance.yahoo.com, viewed August 7, 2013
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