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.