The Post Holiday Blues- Going Into Debt All In The Name Of Love

Women Obtaining Wealth
Women Obtaining Wealth Internet Talk Show

The holiday season is always a bittersweet time for me. As a Financial Literacy Coach, I often get an overwhelming amount of new clients towards the end of January beginning of February in panic mode. The stories all start out like this, "I spent way too much money this year.” How did a holiday season that is suppose to celebrate love, family, and friendship turn into a time when people feel OBLIGATED to buy things they cannot afford?
I am so thankful that my parents taught me that giving love, time, and gifts is a year-round sentiment. They also never made me feel obligated to buy them gifts during any particular holiday season.
Each year I watch children scream and demand various toys for their parents to buy and each year there is a "hot" toy that every child must have. The sad thing about it is, their parents rush stores sometimes pushing and raving to buy these items that they know they cannot really afford. So what do they do? They pull out credit cards, skip a bill, and borrow to get this toy that will be set aside the next time something new and improve comes along.
I recently returned from visiting my family for Thanksgiving. Now this holiday seems to be celebrated in a fashion that I can agree with. When I returned I went through my pre-recorded news programs that were recorded while I was away. Sadly a news reporter described how a man that had no prior criminal record attempted to rob an armor truck outside the mall in my area. His behavior led to shots being fired, people being hurt, and being thrown in jail. His wife refused to be interviewed and I sat there in horror. My family and I visit this mall often. It terrifies me to think that this man felt that having money during this holiday season was worth this vicious act. How did you SPEND the holidays? Do you have the blues?

By:
Dina Harbour
Financial Literacy Coach

A Place To Call Home -Why Single Mothers Should Own A Home

Written by: Dina Harbour

Women Obtaining Wealth
Women Obtaining Wealth Internet Talk Show


I can’t put my finger on it exactly but it is something special about going home. A home can represent a lot of things but for me, home is my security blanket. It is the place that I grew up, ran up and down the street, learned how to dance, skate, and ride my first bike.

My parents bought out home shortly after I was born. My Mom still lives there to this day and it makes me smile. Buying a home is something I always wanted to do. It just made sense to me. It took me 31 years before I could buy a home. Why did it take me so long to purchase a home when I wanted one so badly?

Well, no one taught me how to buy a home. I was employed and made a decent salary but I didn’t know all the rules and/or requirements. When I did find out what was required I hadn’t saved up enough money for the down payment. Plus I was carrying to much debt.

Later in my discovery I learned that ALL wealthy people own real estate. Most Millionaires make their money from buying, renting and/or selling this asset. It took me 31 years to own my first piece of property and it was the best investment I could have made back in the year of 2000.

Since then however, I’ve experienced and learned so many valuable lessons about owning real estate. Because of my knowledge, I became a Real Estate Agent and Investor. Also, in sadness I’ve watched good people loose their homes while the housing market took a crazy dive.

Regardless of these unfortunate situations people are still using real estate as one of their most popular vehicles to building wealth. They have the REAL information needed to make real estate much more than a home, but also a pertinent asset. Just because the economy is not in the best shape doesn’t mean that you shouldn’t own real estate. People still need a place to call home more so now than ever before. Do you have one to call your own?

Getting Out Of Debt: The Only Real Way To Gain Financial Freedom

Wealth is more than just about money but you cannot have real financial freedom while being buried in debt!

Back in 2004 when the housing market was booming, I sold my home. The first thing I did was payoff all my outstanding debts. It felt so good. My credit scores climb through the roof and I was able to purchase more real estate for a great price.

When I became a Real Estate Agent in 2006 I sold several homes rather quickly. But in 2007, I went from selling several homes a year to only 1. Credit became my friend again. I tried to make sure I didn't over extended myself, but I did. Knowing that I was heading for harder economic times, I began to tighten up my budget and cut back on some of my "now" luxury items. So I got rid of my second cell phone, fax machine line, cable premium channels, eating out and many other unnecessary expenses. It was tough necessary to get back into financial shape.

The next step was deciding that I "would not” under any circumstances accumulate more debt than I had too. David Ramsey talks about this in his book, “The Total Money Makeover”. So I put away a small saving for EMERGENCIES ONLY. Believe me, the emergencies happen, car problems, water leaks etc.

The debt that bothered me the most was my first priority. I did balance transfers and paid as much as I could. It was hard. But doing it made me feel empowered and smart. When I sent a payoff amount for one of my credit cards the light in my dark debt tunnel starting showing up and soon I was walking towards it.

I still have a ways to go. I am going to tackle my mortgage after the other debts are paid. I also noticed that money started coming to me without me fighting so hard to get it. Be smart and stop living above your means. Look at all the devastation of people losing their jobs, homes, and other valuables. Try to be wiser and start taking control of your financial future. Get out of financial bondage and begin to walk towards the financial light!

Women Obtaining Wealth is an on-line financial community and organization that I stated to help others with their financial journey. We offer a long list of on-line classes for our members, to join go to www.womenobtainingwealth.com. You can hear more about this topic and many others on our Internet Talk Show every Sunday at 9:00pm EST we even have a chat room for you to type in your questions at www.blogtalkradio.com/womenobtainingwealth.com or call (646) 478-5836!



Dina Harbour, CEO
Budgeting & Money Management Coach
www.womenobtainingwealth.com