Celebration and Concern

I'm sure you are aware of the recent announcement President Joe Biden made concerning student loan forgiveness.

This announcement affects over 43 million Americans who will have federal student loans up to $10,000 or for those with federal Pell student loans up to $20,000 of their student loans forgiven.

This is a really huge deal for some.

I celebrate the fact that many will be getting rid of debt and perhaps even becoming debt-free!

No one can truly build wealth while having debt!

I always say debt steals from your future by having you pay for your past!

While I celebrate, I'm also concerned.

I'm concerned with the fact that with those who've had their debt erased or reduced, there must also be a behavioral change with how money is handled in order for this debt elimination or reduction to really mean something.

Winning with money is 20% head knowledge but 80% behavior.

If there is not a behavioral change, one will fall right back into the same patterns that got them into debt in the first place:

--living above one's means

--not living on a budget

--not being intentional with money

If unhealthy money patterns are not erased, one will find themselves in the same position of financial struggle but with a different debt.

While I celebrate treating the symptoms of financial struggle (in this case student loan debt), I'm concerned the source of financial struggle (for many money-behavior) is not being addressed.

If you or anyone you know needs help in addressing the source of financial struggle, I can help!

Click Here for a Free Conversation with Me

The foundation to win no matter at what level you find yourself financially is budgeting.  I have two ways to help through my online course "Cents and Sense" or through a special and targeted budgeting session "Give Yourself a Raise".