It’s a new year! Are you hungover financially?

There’s this weird week after Christmas but before New Years where it feels like a Saturday and a Monday all at the same time. Given the amount of people who take this week off I thought entertainment venues would be packed these last few days but actually what I saw was quite the opposite. Why? I had a conversation with a colleague about this and they suggested perhaps it’s because so many people spent too much for Christmas and simply don’t have the money to go out right now.

I said it sounds like they’re hungover financially …

A look at some of what we can know about how much people spent this holiday season indicates this may be true. 

CNBC recently reported that Americans’ credit card debt has reached record levels, now at over $1 trillion. And that’s on top of the fact that most Americans’ overall financial position is pretty precarious. A recent report by SecureSave found 63% of Americans wouldn’t be able to afford a $500 unexpected expense, and even people making a lot of money are failing to put money aside. A third of people earning over $100,000 are also living paycheck to paycheck.

If that sounds like you, don’t feel bad. You’re in the majority so you’re like most people. The way we’re bombarded with marketing makes it easy to spend more money than you should.

In fact, you’re a big step ahead of most people because you’re reading this blog and you’re thinking about how you can take control of your finances.

The good news is this is a solvable problem. As a licensed insurance agent specializing in asset protection and accumulation there are products like indexed universal life and guaranteed income programs that can create financial security for you and help you sleep better.

Constantly worrying about money is at odds with living the life you want, and you don’t need to resign yourself to it. Let me know if you want to connect and I can help you get to where you deserve to be.