April 12, Minding Our Own Business (And Thriving) With BDA Tools

Thought for today:
Members of DA who own businesses often find help from attending Business Debtors Anonymous, a distinct part of DA where they apply tools specifically designed to help them run a business.
BDA Tool #1:
“We keep separate professional and personal financial records and bank accounts.
Members heard at meetings:
“I let my business partners handle all the money because I don’t like doing that, so it is separate, but I also don’t know what is in those accounts.  I feel like I have to ask permission.”
“Mine is a family owned business and I never know what the other members are doing with money.  We’re just supposed to trust each other, but I feel in in the dark.”
The first word in the first tool is “We” – “We” kept separate records and accounts.  It is up to us to keep informed about our own businesses, for the better of everyone involved.
We can’t abdicate our responsibility and expect to have balance in other areas.  This is the first tool for a reason: it is the foundation for all the others.
Do I keep separate records for my business?
Meditation for today:
The boundaries we set between work and personal life help us live better.  When we feel like ignoring these boundaries, it can be a sort of self-deception.  It’s best to redouble our efforts, asking ourselves “what am I afraid of happening?  Why do I want to ignore a proven process?”
Affirmation for today:
I enjoy keeping my business and personal life separate.
Prayer for today:
I pray for wisdom to keep my personal accounts separate from my business accounts.

 

Click these images to read samples of our recommended books:

First publication by the Debtors Anonymous 12 Step Fellowship. It describes the basics of the D.A. recovery program and includes 38 success stories of D.A. members. It offers experience, strength, and hope to help other compulsive debtors and all those who want to stop incurring unsecured debt, such as credit cards, unsecured loans, personal loans, unpaid taxes, and more.

How to Get Out of Debt, Stay Out of Debt, and Live Prosperously*: Based on the Proven Principles and Techniques of Debtors Anonymous

OUT OF THE RED
• Do this month’s bills pile up before you’ve paid last month’s?
• Do you regularly receive past-due notices?
• Do you get letters threatening legal action if immediate payment is not made?
• Do the total amounts of your revolving charge accounts keep rising?

INTO THE BLACK
Whether you are currently in debt or fear you’re falling into debt, you are not alone. Sixty million Americans—from doctors to secretaries, from executives to the unemployed—face the same problem and live under the same daily stress. Based on the proven techniques of the national Debtors Anonymous program, here is the first complete, step-by-step guide to getting out of debt once and for all. You’ll learn

• how to recognize the warning signs of serious debt
• how to negotiate with angry creditors, collection agencies, and the IRS
• how to design a realistic and painless payback schedule
• how to identify your spending blind spots
• how to cope with the anxiety and daily pressures of owing money
• plus the three cardinal rules for staying out of debt forever, and much more!

This book is neither sponsored nor endorsed by Debtors Anonymous. A recovered debtor, the author is intimately familiar with the success of the Debtors Anonymous program.


The The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness

  • Design a sure-fire plan for paying off all debt—meaning cars, houses, everything
  • Recognize the 10 most dangerous money myths (these will kill you)
  • Secure a big, fat nest egg for emergencies and retirement!

(Some of the links on this page will bring you to Amazon. If you decide to buy after clicking an an Amazon link, Amazon will give us a commission. This does not add to your cost. It helps us defray the costs of running this website. Please do not use a credit card to purchase! There are many options for online purchasing besides unsecured debt!)

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