My Journey out of Debt

Featured customers currently enrolled in a CareOne Debt Relief Plan, share journey to become debt-free; hear how they juggle family, finances, and more.

Talking To Your Family about Finances

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Talking To Your Family about FinancesDoes it feel like your debt has taken over your life? Have you gotten yourself into so much debt that you are scared to talk to your family about it?

First, take a deep breath. 

I know how scary it is to share your personal financial struggles with your family or even friends. You worry that they will judge you or that it will change their opinion of you; but reaching out to friends and family can really ease some of the pressure you are feeling.

Sharing your struggles can actually relieve some of the burden because you no longer have to fight to hide your money problems. That support can be extremely important as you work to pay off your debt. I don't recommend denial, as it will take longer to get the help that you need.

I am sure there are exceptions, but everyone I have told has been extremely supportive and encouraging. It was also a huge relief to just be honest. The ability to not pretend I can afford things that I really can't actually help me stick with my goals.

Your friends and family may even have ideas or tips to help you with your financial goals. Keep your conversation and options open. You may be surprised to learn that your friends and family share the same money issues and you can work together to find ways to spend your time, while not spending money.

I also encourage everyone to be open with their family, including children, about the family finances. Plan a weekly or monthly family meeting to discuss upcoming expenses, review your family budget and see where you fall with your bills.

Educating your kids now may pay off in a big way for their financial future!

Being successful with paying off debt requires a lot of different skills. It's not just budgeting, controlling spending and learning how to save. It is also realizing what a realistic financial lifestyle is for your income. Figuring out your lifestyle involves your friends and family. Having them understand your financial limits will make your goals that much easier to attain.

Kelly Rockafellow, CareOne Services, Inc. Debt Management Plan Customer

Kelly Rockafellow

Kelly is enrolled in the CareOne Debt Management Plan (DMP). As she and her family approach the end of their plan, Kelly is going to share with the community what has made her stay on track and remain motivated. Kelly runs a business from her home and is anxiously waiting to successfully complete her plan so that she and her boyfriend can get married. Follow Kelly's story under the My Journey out of Debt blog. Compensated CareOne Debt Relief Services blogger.

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  • I know I was terrified at first to share my financial struggles.  When I finally found the courage to start sharing my struggles it was a huge relief.  You are right most of the people I know are going through the same thing (some worse).  I have found a huge support system in my family, friends and co-workers.  Struggling with support is hard enough.  Struggling without that support is even harder.  

    Great blog!  It is about getting over that initial fear and who knows you may help your family and friends see they need help and support as well.

  • @mdavis1964 thank you very much ! Exactly, there are people in our lives to support us we just need to have the courage to talk about it.

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