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Advice from Ms. Price for July
Dear Ms. Price,
I have a master’s degree and earn a good living. I should be able to pay my bills and have enough left over to enjoy my life and even save for the future, but I am having trouble managing my spending. My debt increases every month and is causing me severe anxiety. I keep creating budgets and plans but never seem to be able to stick to them. My friends tell me to relax and that everyone has debt, but I can’t help but feel that this is a slippery slope. Help!
-Debt-phobic in Pinellas
I agree with you. Debt and mismanaging your money are not something to take lightly. How we manage our money is a reflection on our identity and self-esteem, not to mention determines our lifestyle and future.
Are you experiencing any emotional issues that lessen when you spend money? It is not uncommon to self-soothe by spending money. If that sounds like you, perhaps you could find alternative ways of managing your stress, such as therapy, self-care, support from family and friends. There are support groups for people with spending and debt issues, like Debtors Anonymous. If this seems too extreme, then at the very least, make an appointment with a financial planner and start to take ownership of your future. Best of luck to you.
Dear Ms. Price,
I co-own a business with a friend from college, let’s call him Jim. We have passed the ten-year anniversary and our business is thriving. Jim and I make excellent business partners.
Recently, he hired a new employee. As Jim was talking to this new employee over the phone, he asked her if she had any questions. She said that she didn’t have questions, but that her father does. At that point, she put her father on the phone with Jim and the father asked a whole series of questions that ranged from the 401K, vacation time, sick leave to if his daughter could arrive late the first week of work.
Both Jim and I were taken aback and didn’t know what to say. How do we move forward?
-Bulldozer Parent Management 101
Dear Bulldozer Parent Management 101,
First of all, I would not have taken the father’s questions in the first place. It is not professional to speak with anyone but the job candidate, and that includes parents.
My question to you is, has she started work? And if so, how’s it going? Is daddy coming to work with her? Did she actually come in late the first week?
My advice is to rescind the offer and continue looking for new candidates. If this is not possible, have an immediate discussion with her. Take responsibility for the conversation, as you made a mistake by even entering into a discussion with her father. Let her know that it will never happen again.
Make sure you document this entire incident in her personnel file for future use, as I have a strong feeling you might need it.
When you run a business, you learn new things every day. Lesson learned.
On a side note, it’s sad that we have raised a whole generation of children that can’t even negotiate a new job without putting their bulldozer, I mean father, on the phone.