Money Mondays

Wizard of Oz Syndrome

Wishing your finances away isn't going to change your financial state. After speaking with countless clients two phrases continue to peak it's ugly little head.

#1 Procrastinate

#2 Lack of planning

Don't confuse your environment with the Wizard of Oz. The ruby red slippers or BCBG heels will not allow you to click your problems away and vanish from the situation. In the Wizard of Oz, Dorothy was confused because she was in unfamiliar surroundings. Instead of following her own instinct she listened to others for help. Seeking out the Wizard allowed her to build confidence (so she thought) . In the end, she found that it was her own self reliance that got her back home.

The Wizard of Oz syndrome means that people are seeking guidance without using their knowledge to answer all questions. I'm not saying that you don't need assistance every now and again. I'm saying that all you have to do is to establish a plan and have a sense of urgency about your life. Each behavior transition into every facet of your life.

As I turn on the news and read the paper, I hear individuals say that it (financial crisis) will come to an end. When? How?

Question:When are you going to get out of debt?

Answer: I don't want to be in debt and I will start saving tomorrow. The market is too bad right now. I'm scared.

Question: How are you going to get out of debt?

Answer: Once again, I will pay off all my bills.

These aren't adequate answers.

• Eliminate Procrastination. "Why put off tomorrow what you can do today"? Everyone knows that tomorrow never comes. In the end, we have watched time go by and we are in the same dilemma or worse. Begin fixing your situation today. Start with addressing how you got into this financial turmoil. Identify your behavior that contributes to the spending and lack of budgeting. Realize and accept that you can only change yourself. It starts at HOME.
• Set a plan. This addresses lack of planning. Answer the following questions in your plan. When do I want to be out of debt? How long will it take me? How much debt do I have? How do I feel about myself and the debt I've accumulated? How much can I contribute towards my debt? There are many questions to implement in the plan. You along with a consultant will be able to put a strong, reliable, accomplished plan together.

Be the Wizard in you goals. Clicking your designer shoes, which got you into the situation is not the way to eradicate your debt.

Be inspired,
Bahiyah Shabazz