Being Honest About Money When You’re in Trouble

Nothing feels worse than being in trouble. The consequences of the things we fear are oftentimes unbearable. So, what do most of us do? Lie and hide.

Yep, we lie to ourselves about how serious things are and we hide our fears or consequences from others. People like:

• our spouse
• our children
• our parents
• our boss
• and our immediate community

Some of these may be the very people who could help, but fear and shame keep us from admitting we are in trouble.

Being honest about money when you are in trouble feels risky. In some cases, it can cause harm and in others, it can cause worse case scenarios. From missing a payment and having an adverse credit score to causing financial harm to a business or institution, money problems run the gamut.

The truth is, hiding won’t work. Eventually the issue will come out and the situation will be worse than it has to be. So, what can be done to get the courage to be honest about money when you are in trouble?

Plenty!

Talk to Someone Trustworthy

If you can’t be honest with your family or anyone directly related to the situation, seek neutral advice and help. Whether that be an accountant, a trusted friend, or an attorney, someone has the answers you need.

Sometimes getting sound advice helps clear the air and makes it possible to solve problems. Once you have a better handle on what is happening, you can meet with those closest to you and have the tough conversations.

Do What You Know is Right

A lot of money problems come from behaviors. Making poor choices when you know there is a best practice alternative. Do what you know is right. From tithing your 10% to paying your bills on time, do everything you know to do, and your conscience will be eased.

Educate Yourself

Some mistakes come because we simply don’t know any better. Ignorance of a law or keeping our heads in the sand won’t make the lessons easier to learn. If you need some education about money or how it works, find the right solutions and get the know-how.

Final Word

Being honest about your money and any weaknesses you have with it can change your life. It can take you from being a victim of poor choices to a victor and intentional stakeholder in your finances. Be honest and do whatever it takes to be in integrity and command of your money.