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159 Past Due – How to Keep Going in the Face of Setbacks

by Derek Sisterhen on May 27, 2011

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Past Due: Radio 159 – How to Keep Going in the Face of Setbacks

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Chad and Julie, a young couple from Raleigh, have clearly defined their financial goals – mainly to pay off over $70,000 in student loans – but keep running into one setback after another. It feels like every time they take one step forward something pushes them two steps back. But there’s a lot to learn from how they’re handling the adversity in an effort to persevere toward their goals.

On today’s show, we address three critical components of families that persevere in the face of setbacks:

1) Optimism – In spite of an unexpected tax bill and rising childcare expenses, Chad and Julie continue to believe they will reach the finish line.

2) Proactive – Each time they’ve encountered a setback, Chad and Julie have proactively sought new paths toward their goal of debt freedom – from having “apocalypse-style” yard sales to teaching music lessons for extra income.

3) Community – Chad and Julie began their financial journey recognizing they needed the support of others. They have a group of friends who encourage them and hold them accountable to their short and long-term goals, and they’ve pursued many classes to learn more about wise money management.

Kids & Money Contest: I’m looking for stories of parents teaching their kids about managing money and understanding how money works. If you have a great story (humorous, big life lesson, etc) of what to do – even what not to do – please send it to mailbag@pastdueradio.com by Sunday, June 19th with “Kids Money Content” in the subject line. Entries will be gathered for the next few weeks and the winner will receive Junior’s Adventures, the boxed set of money lessons for children by Dave Ramsey, and a copy of my book, Get Naked: Stripping Down to Money & Marriage.

If you have a specific question, I’d be happy to answer it and further cultivate the wisdom of the Past Due Radio masses. The experiences of our listener base provide plenty of insight we all can learn from; don’t hesitate to ask – I’m happy to help!

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