Thought for today: Acceptance is the fifth and last stage of the “five stages of grief*”. Having gone through denial, anger, bargaining and depression over our debts, it is a welcome relief to be able to see a blue sky again! A member shares: “When I accept myself as I am, and accept my net […]
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Thought for today: Depression, the fourth stage of the five stages of grief*, is something we are all familiar with. Depression held many of us hostage. Sometimes underneath the feelings that bring us down is the realization that avoiding pain has been our undoing. Denying we had a problem, being angry over it, trying to find “quick fix deals” doesn’t work. […]
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Thought for today: Bargaining is the third of the “”five stages of grief*”. For compulsive debtors, this means a desperate search for ways to avoid the consequences of debt. We may feel compelled to hold extra jobs to pay our creditors. We may “splurge and purge” , going on bulimic shopping sprees, and when the rush of binge […]
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Thought for today: “Purposeful forgetting” is one of the ways we stayed in denial about our financial and emotional losses. Nevertheless, compulsive debting, reactive spending binges, and self-defeating under earning are forms of insanity, and they only get worse over time. Until we start to deal with our debting, let go of denial (pride) and admit powerlessness over debting, […]
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Thought for today: Having a “disease” (“dis-ease”) implies a “lack of ease”. It’s like an allergy, which left untreated, gets aggravated, and progressively worse. Compulsive debtors have an allergy to credit cards, which often includes the aggravating addiction of overspending and/or chronic under earning. To accept that we have such a problem takes us effort. Who wants to admit that they have a disease? […]
Continue reading →Thought for today: Business people sometimes use imperfect information when making decisions. There are no guarantees of outcomes, only ways to lower risks and maximize outcomes. We may get professional advice for the big-ticket items, but the decisions, ultimately, are ours. BDA Tool 12 “We are willing to be in charge and responsible for our business. Professionals such as accountants, […]
Continue reading →Thought for today: For business owners, decisions are often complicated. New situations seem to bombard us, forcing us to think on our feet. With so much activity in our days, we can feel compelled to make spot decisions on difficult situations. That’s why BDA suggests that we bookend – share on the phone or in person before and after serious […]
Continue reading →Thought for today: Those of us who are self-employed are sometimes obsessed with problem customers. We neglect preferable customers because we are fixing insignificant issues with the difficult ones. We need a healthy balance. BDA Tool 10 “We detach from difficult personalities and poor paying clients and put principles before personalities.” A member shares: “Letting go is hard for a […]
Continue reading →Thought for today: Market forces can breed competition. Fair competition is healthy. It usually means that the prize we seek is worthwhile, that others appreciate the same goal, and that we are on the right track. Without competition, innovation would stagnate. A business owner once shared at a meeting: “I worried all the time about the competition. What […]
Continue reading →Thought for today: In DA we focus on the total person, leaving aside the “quick fixes”. Refinancing a loan, or renegotiate the terms or rates of a loan, needs to make sense in the context of our Spending Plan that puts our needs first. When we negotiate refinancing rates and terms that benefit us it’s called “debt […]
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