Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

Don’t Let Your Finances Reach Crisis Mode!

13 Dec 2024 · 1 min

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A short transcript excerpt from a YouTube conversation (host Richard Canfield and another speaker) about how many people deprioritize finances during other life crises and only address money problems once they become emergencies. The other speaker notes clients often wait until debt and creditor actions force them to seek help, citing damaged credit bureau records and uncertainty about where to turn.

Chapters

What tends to happen for many people, and it's certainly not all, but for many is their finances often take a back burner to some other crisis that's taking place in life and they think, I'll get back to it or we'll work back on it again. And the result is they usually don't start working on it again until that thing starts to get to a crisis level itself, and then they pivot from crisis to crisis. Have you experienced that in the people you serve?
Absolutely. I've gotten people reaching out to me, booking calls with me that they ran into so much debt and they don't know how to get out of it. And it's like, why didn't you take care of this two years ago? Why do you wait to a point where you've got creditors coming after you, you've missed payments on your credit bureau? Your credit bureau shot number one, I think probably gets in the way. Two, I would say they don't know where to turn, they don't know who to ask.