Financial Baggage


Let’s face it, we all have financial regrets. The stock tip that didn’t pan out, the home-based business flop, the ‘former associate’ who borrowed money and never paid you back… Ouch! The feeling of being taken advantage of lives on…. after the money is long gone. It’s called financial baggage.

Financial baggage travels with you. It’s contagious – your friends and family can pick it up too. Here’s how to unpack your bags and move on for good.

Financial Planning

Most people don’t plan to fail, they fail to plan. That’s a mistake that’s easily corrected.

But, financial education includes making mistakes. A study shows that of 57% of millionaires, most regret not having a financial plan in place earlier in life. So give yourself a pat on the back for learning what not to do. – do some research! Learn about money by getting professional advice and most of all – make your own financial plan so that you won’t get swept away on a whim.

My friend Jack was in deep debt because of business credit. He regreted not reading the fine print on his business loans better. He needed professional help to negotiate a better rate and put him on a timeline to pay the creditors back. Although there are several companies that do this, the one that helped him with a debt elimination program is Money Management International.

Financial Education

Learning about money should be a life long habit. When financial education is a priority, we can make better informed decisions on ways to use money. Financial education can be prioritized the same way we update clothing and hairstyles. Keep learning so you can keep earning and using money wisely.

There are so many free workshops, events, and websites that can help consumers find information about money. Some are for young children, like Sammy Rabbit and there are songs, games and activities that will help engage and educate young children. Of course, the “Can I Have Some Money?” book series is perfect for 4th grade and up.

Reality Check

Most people think that when you have money you can do whatever you want to do. That may be true, but only as long as the money lasts. The reality of money is that it is limited and purchasing power diminishes over time due to the cost of living, taxes and other “realities” of life.

The reality of life is that to manage money wisely, we have to resolve the inner battle between wants vs. needs.

Do a reality check by creating a budget and reviewing it a few times a year. There are so many free budget calculators and spreadsheets available online and these can be a fun activity for the family.

It’s never too late to unpack the financial baggage and make a move to take control of your finances. You’ll have yourself to thank for it.


Get a free chapter of my kid money book LEMONADE SOLD OUT the story of a kid entrepreneur here.

About candi sparks

Candi Sparks is a fully licensed financial professional and a Brooklyn mother of two. She works with private clients, business owners, the NYC Department of Education, faith based, non profit and community organizations on financial education and implementing financial strategies for success. Events are fun, interactive and solid financial information. Sparks Fly, financial literacy for YOU(th) Learn more so you can live more! toll free: 866.556.2432
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