The Impact of My Personal Finance Decisions

Many of us tend to be very self centered and ultimately selfish as it relates to our financial situation. We quite often become all woe begotten and get down on ourselves about our debt. Self-deprecating thoughts and statements abound, “Why am I in Debt? How could I do this to my life and myself? Money is so difficult for me” and the ever-popular “You Only Live Once” all comes to the forefront.  There’s a lot of me’s and I’s in those statements.

What about everyone else in your life? When is the last time you thought about the impact your financial decisions had on others?

Your family, friends, business partners and yes, even your employer.

My parents and several of my friends have been directly impacted by my financial decisions in life. We could even go so far as to include my ex, money was one of the deciding factors in our divorce. The financial web we create in life tangles around a lot more people than just us.

The impact to my parents can be summed up in one statement: Promises made, promises broken.  I have had their financial assistance twice in life and I’m sure they didn’t expect me to be living with them again in my thirties.

My friends have suffered from my financial decisions as well, cancelled trips, outings I’ve had to decline because I have no money, the list goes on.

Your employer can even be affected if you’re working in a job you dislike primarily for the financial reasons. You become a disengaged, unproductive employee.

Next time you’re thinking of doing something financially silly, think of the impact it may have on those around you and realize all it takes is discipline.


  1. I think the one thing I can think of that it affected is friends when I either can’t do something because of money or have cancelled. More so on the latter because I already made a commitment.

  2. True. Also thinking about how our financial decisions will impact other people can bring substantial changes to how we deal with our financial situation and wants. For instance, even when you have your job going, you’d still most likely think twice about rushing a loan for a new car once you think about your husband/wife just having gotten laid off.

  3. Any debt I take on affects my husband, as we share finances. I’ve taken two loans from my grandparents, but I paid them back in full at the agreed upon time. I work very hard to make sure my debt won’t hurt anyone else and I never ask my parents for money. Mostly because it makes me uncomfortable.

    • I hear you! Owing any family makes me uncomfortable. My parents have helped me twice and I’ve paid back every penny.

  4. After reading your story, I have realized that before doing any decisions I must ask opinions and should be open to my family so whenever we got a problem, at least they already know my status. Not all decisions can be good always, at least I have made this with my love ones. Thanks for sharing your story Ma’am Michelle your story made me even wiser and giving me a guidance as well.

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