Money Disorder

I recently read an article in either Fortune or the Wall Street Journal that was most fascinating. We're all keenly aware of disorders such as: ADD, ADHD, OCD, etc. At this juncture you might be wondering where I'm going with this, but it appears that a new disorder was recently discovered that they're classifying as, the "money disorder"

Ironically enough, I was fascinated by the new label in an on-going attempt to better understand the psychology of the people in our universe. Suffice it to say, I believe that our current economic state is due in part to this new disorder. As I pondered the issue I thought of it's application in my life.

Last year I stepped up to assist a friend that was dying of breast cancer. In retrospect, it's clear to me that my dear friend, Jeanne had a "money disorder" of great porportions. Jeanne wildly spent every last nickle to her name. I'm not sure if this was related to her general ambivalence to dying or her genetic coding that lead to as I see it, a life time of abuse of money. Suffice it to say, she relied on her, "angel network" for their generous love & financial support.

The care giving experience left me with profound thoughts as it pertains to money. First, I vowed never to be a financial burden to anyone, especially in my final days. Secondly, it left me with a burning question to explore. That's the question of, "What Do You Really Need?"

Needs & wants are two very, very different words. Yes, I long for a larger house closer to the beach. Yet, my beautiful newer cottage should nicely meet the needs of my husband & I for the rest of our lives. One would then have to surmise that the goal of a new, bigger house is a want. Yes, following a year in an adjusting market, I long for the gardener & the housekeeper. I yearn for a 6-month continental cruise to bid my time until the economy returns to normal. However, I need financial security for the months and years ahead. As my husband & I examine our financial situation from the inside/out, it's very apparent that we should have started this process long ago. The good news is that we're on the road to recovery. Like others, I've discovered the need for peace of mind that comes with financial security is greater than my wants to live large!

I was taught to never back up to the payroll window. I'm proud to say that I put my clients needs before my own personal financial needs. To date, not one of my clients has faced a foreclosure. Now, here's the Bobby Flay throw-down, ensure that you educate your clients so that they're not placed in a financial situation that they're not prepared to handle. Place their needs above your own financial needs. Commit to not being a financial enabler & rejoice in the fact that you're not reading about your clients in the foreclosure columns of your local newspapers! Moving forward, it's imperative that we all contribute to the economic recovery by making our decisions on needs vs. wants! Here's to being the best that we can be!