Subtle Reminders of the Importance of Personal Finances

[Chett]

A few weeks ago as I realized the end of summer was upon us, my wife and I began the tasks of getting rid of clutter and cleaning out old storage containers and closets. As I began to "de-clutter" and throw things away I found a brief case I used to use when I worked in loss prevention for a very large retailer. I oversaw 6-8 stores in two different states and it was my responsibility to deal with any cases of internal, or employee theft. Often I would have conversations with individuals who viewed the company as an entity with deep pockets, who could afford to lose merchandise while they profited from theft. But my most troubling cases, the ones that to this day make personal finance very personal to me, dealt with individuals who had fallen behind on financial obligations and saw theft of money or merchandise (which they would later sell) as their only way to get out of the hole they were in.

After a store contacted me and notified me of a shortage and I had a chance to conduct an investigation, I always spoke with the person suspected of the theft. Usually I knew what they had taken and how they had removed the money or merchandise. The only piece of information I needed was why? What had caused them to make a decision where they felt stealing was there last and best hope for improving their current situation?

Ninety percent of the time the employees would tell me about a financial disaster in their personal life. The situation usually stemmed from a spouse losing their job, medical bills that exceeded what the family could afford to pay, or basic needs of the family were going unmet and the income of working full time as a store clerk would not meet all of their needs. As I sorted through my old brief case I found at least four cases that met this scenario.

As I read I wondered many of these people could have been helped if someone would have worked with them in a proactive manner. I played the role of "gotcha" for the large company I worked for. It was always too late to help them with the situation they were in and often I wished there was a way to help them before they found themselves in a situation where they felt stuck. In retrospect I almost resent the job I had and wish I could have spent more time educating and working with employees on personal finance, instead of just catching them after the fact.

Too many of us though are living in situations that teeter too close to a line of financial disaster and we put ourselves in precarious situations to make poor decisions. I'm not saying that in every case this pushes a person to steal, or that people who struggle financially are dishonest. I'm simply saying when people are backed in a corner financially they feel they have very few options and any option they feel will help them the soonest could be considered. I know when we were struggling financially I considered volunteering for combat duty in Iraq. Obviously I never really wanted to leave my wife, daughter, and new son, and risk my life, but I wanted out of our mess...................soon!

As you are working your way through your own 5k5k challenge I want you to let these stories of desperation further encourage you to stay on track and never return down a path of financial uncertainty. Regardless of where you find yourself as you read this, you can move yourself to a better place financially. For some of you it may be a matter of getting organized, reducing debt, and increasing income. For others it may be a complete change of your relationship with money, and for others it may have to be bankruptcy and a clean slate with all the lessons that come with it. Don't allow your current situation or past experiences define where you go from here on in your finances. If you find yourself struggling, get help, email me, reach out to others on this site. Don't allow yourself and your family to suffer the consequences of desperate decisions during dire situations.