How can so many smart women be so naive when it comes to their money? What makes them push their heads into the sand in a way that men don't do? And, the big question is why don't their learn from their mistakes?
Could it be a generational thing? Unlike our mothers, who relied on their husbands and rarely divorced, we are the first generation of women who struck out on our own. The number of women with more than $50,000 of debt jumped by 8% in the past three years, according to a CareOne Debt Relief Services study.
Experts, agree that the worst thing you can do is nothing, By taking that first small step you will be encouraged to keep on going down the road to financial stability. But, first things first.
Find out what exactly is causing your debt. Once you pinpoint a problem it will be easier to see what life changes you need to make to avoid increasing the amount you owe.
The next step is setting up a budgetby actually sitting down and writing out your finances. If you put your goals in writing they will be easier to stick to. Set a weekly allowance and put your budget in a place where you can see it everyday. Even if you have trouble sticking to your budget there are other simple ways to cut down on spending. For starters, check out a MyBankTracker.com article on how to slash your spending
Remember, there is no impossible situation. Real Cougars know they can always create a solution. So stop feeling ashamed of yourself and turn those negative thoughts into a positive plan of action.