Catch That Breather
Warning: I'm about to share some financial advice that will deeply offend some financial people.
If you're still reading this, you've been warned. I take no responsibility for any level of annoyance or disgust you're about to experience.
I recently met with a couple in the middle of a butt-kicking financial journey. They got themselves into a pretty deep hole, and now they're digging out. It's been a slog of an endeavor, but they're making fantastic progress. However, they are flat-out tired. I can see it in their eyes. It's the financial version of seeing a basketball hunched over during a dead ball, clutching his shorts and panting heavily. You can clearly see the tank is empty. They've left everything they had on the court. That's this couple!
Anyway, I could sense they were about ready to break (which is a terrible outcome!). Therefore, I took extreme measures in our last meeting. I encouraged them to stop paying debt next month. Yes, completely stop. No debt payoffs, no saving, no investing.....nothing "responsible." Instead, aside from their needs, minimum debt payments, and giving, they will use ALL of their extra income for "irresponsible" things. Dining out, travel, personal spending, and maybe a few fun things for their house. Totally irresponsible!
Three powerful things will happen when they follow through with this ridiculous-sounding plan:
They will get a much-needed break. They are exhausted, and this one-month progress break will be the equivalent of a coach giving their star player a short breather. This break will give them the energy to get back on the court and finish the game strong.
They will experience first-hand that it was not wants that hurt them in the past, but a lack of intentionality. On the flip side, when they experience a month chock-full of fun want spending while simultaneously keeping the financial train on track, it will show them that wants aren't the problem. It's all about intentionality. This experience will change them!
These things won't inherently make them happy. They will be fun, but they won't move the satisfaction needle as much as those progress months do. This will further embolden them to get back on the court and take care of business once and for all.
"Irresponsible" spending only. No progress. No wise moves. No debt payoffs. No saving. No investing. Just fun things. Just because. This is the break they need. This is just what the doctor ordered to propel them to that next level.
If you can relate to this couple, perhaps you need a break. Maybe you need to catch that breather. It's ok if you do. Even Jordan needed one every now and then.