Financial Mismanagement for Beginners

I wanted to take this opportunity to provide our readers with a few pointers on how to avoid some uncomfortable financial situations in the new year.  Perhaps you can learn from my mistakes, whereas I cannot.  

Point one:  When you or your hubby run out of checks, order more.  I would refrain from just generally looking around the house for random, unused checkbooks.  Sometimes, there is no money in that account.  Finding two “current-looking” checkbooks does not qualify as a “score”.  Nor does it mean that the account is active.  Exercising caution in this situation will prevent mean looks from the cleaning lady who may be eyeing up your wedding ring as collateral.

Point two:  When the bank notifies you that your debit card may be compromised, take them at their word.  They do this for a living, whereas you (presumably) do not (and if so, why are you reading this post???).  Heed their advice.  Bad things happen to good people when you decline the bank’s efforts to send you a new card immediately in the mail.  They may cut off the card “for your own good” and send you a new one anyway when you realize it’s cut off.  Typically awareness of the non-working card comes to pass at rather, shall we say, uncomfortable times.

Point three:  Utility companies mean business.  Forgetting to pay one’s electric or gas bill can rapidly turn into a cold and dark situation that many people find humorless.   And the people you deal with are generally very busy, keeping up with all the other deadbeats.  Everyone has an excuse, and I have mine.  It is simply that I prefer to bake cookies rather than to keep on top of outstanding bills.  Sadly, Dominion Virginia Power does not accept chocolate chip cookies as payment or for bribes.  Seriously, it would be easier for me to send a care package of cookies via the USPS than to go online and pay my monthly bill.    

Point four:  This is key—make sure your hubby, friends, business associates, and ladies at the grocery store know of your weaknesses in this area.  Invite them to laugh at you and/or take over your finances.  When these crisis-ish situations occur, it is best to admit defeat early and often.    And pay cash whenever possible.  People like cash.  That is all.