Financial Genetics: A Family History of Debt
If you were a child of the 60s, 70s, or 80s, then you watched your parents live off credit with virtually no consequences. To young eyes it really must have seemed like money was free. Credit cards just appeared in the mail. Banks were eager to give your Dad a loan. While our parents enjoyed what appeared to be unlimited financial freedom they were imprinting their attitudes toward money on us, their children. Yes, credit was a different animal, back in the day. It seemed anybody could get it and someone was always willing to give it to you. Back then if mom racked up her credit card they just increased her spending limit. As a kid, the thought of getting your own credit card seemed like an exciting rite of passage!
Things Your Parents May Have Left Out of Their Message
Children don’t just learn from what you say, they learn from what you do. So if you grew up watching your parents living on credit, why wouldn’t you? You learned by their example, and it altered your perception of money. The lesson you got from Mom and Dad was that there was always credit to be had. Until there wasn’t.
Most of our parents grew up in or adjacent to the great depression. And if they didn’t remember it, your grandparents did. So while we were watching our parents enjoy prosperity, we should have been listening to the tales of our grandparents. Because if you’re living with a lot of debt today, you’re experiencing your own depression, and it’s not so great.
When Debt Help Doesn’t Run in the Family
So did you inherit your debt from your parents? No, but its safe to say you picked up a few of their habits. So, do you keep accumulating debt in hopes that you’ll have the same financial life as your parents? Or, do you break the habit of debt and start living the life you want.
4 Pillars Debt Solutions has been helping Canadians reduce debt since 2004. In fact over 97% of their clients have stayed out of debt.
In Brampton and surrounding area, your Debt Specialist is Frank Eichinger. As a 4 Pillars Debt Specialist Frank works for YOU not your creditors. Your first consultation is free. In that meeting you’ll be met with compassion and understanding, not a big ‘I told you so’, to quote your parents. Frank will create a debt settlement strategy that works for you; navigating financial terminology, helping create a proper budget, and more.
By exploring your best options Frank will help you with every aspect of your debt settlement. The solution may be as simple as debt consolidation; consolidating all of your debt into one lower payment and creating a workable budget. Frank will create a plan to deal with your creditors, and once an appropriate plan is in place, he’ll work with you to rebuild your credit. In fact, Frank will help you reduce your debt by up to 80% and have it paid off within 5 years. Call Frank Eichinger of 4 Pillars Brampton at 647-403-4992. You inherited a lot of great qualities from your folks but the time has come to impart some wisdom to the next generation. Break your family cycle of debt and start living life on your own terms.
4 Pillars Debt Solutions. Details at 4Pillars.ca
