Karen's Blog

The Life of A Financial Recovery Counselor: An Interview with Carrie Friedberg

Every now and then, when I’m talking to someone who’s interested in taking the Financial Recovery Counselor Training, I’ll be asked, “Can you tell me what it’s like to have a career as a Financial Recovery Counselor?”  These kinds of questions inspired me to start a new series of blog posts in which I interview some of my past trainees who’ve gone on to build lucrative practices in Financial Recovery. Today, I’m happy to feature my interview with Carrie Friedberg, who became a certified Financial Recovery Counselor in 2010 and now has a thriving practice in New York. Through a holistic coaching process, Carrie guides her clients in taking an honest look at their income and expenses then helps them create a flexible framework for making consistent and guilt-free financial decisions. You can visit Carrie’s website h...Continue Reading

Myth: Money Is The Number One Reason People Get Divorced

As Valentine’s Day approaches, couples may be feeling more financial fear than ever. Yet, money problems present an opportunity for couples to draw closer together, rather than tearing them apart. “The notion that money is the #1 reason people get divorced is absolutely false. “It may be the symptom of problems in the relationship, but it is not the cause.” Money often becomes the currency of emotion in a relationship. In this economic environment, romantic partners may be using money as a substitute for addressing common areas of relationship challenges, including: Anger: There can be danger in anger. If one person in the relationship does not feel their needs are important, or feels they are not being met, they may use money to express anger. Resulting behaviors can include overspending, or closing the purse strings so ...Continue Reading

How to Save Your Way Out of Debt, Part Two

Spend Or Save Did you know that 43% of American families spend more money than they make every year? And 45 million Americans carry a debt of over $10,000. Debt has become a way of life for way for most Americans. Our economy thrives on it. But if you’re in debt, you know how this “way of life” can weigh heavily on your peace of mind, diminish your sense of possibility and darken almost every aspect of your life. Last week, I shared the first 5 steps of my 10-step formula for getting out of debt and staying out of debt.  Now, let’s jump into the final 5 steps of how to “Save Your Way Out of Debt.” These steps are consecutive, so if you missed the first 5 steps, you’ll want to read those first. Step 6: Build Your Safety-Net Everybody needs a safety net. Whether you’re self-employed or work for someone else, you need a...Continue Reading

How to Save Your Way Out of Debt, Part One

Debt is an embezzler that silently steals your security for the future while dramatically diminishing your quality of life right now. If you’re in debt, or if you’ve ever been in debt, you know how agonizing and destructive it can be. But the answer is not to simply get out of debt. It’s to stay out of debt. People get out of debt all the time. Similar to yo-yo dieting, they go on a money diet, slim down what they owe and feel tremendous relief only to find themselves carrying an even heavier debt in a few months time. But the good news is, there is a way to get out, and stay out, of debt. It's called, "Saving Your Way Out of Debt”. And, in this post, I’m going to share the first 5 of 10 steps that will allow you to get out of debt once and for all. Step 1: Don’t Go Into Deprivation Mode When people try to get o...Continue Reading

Give Yourself a Holiday Without the Financial Hangover

Karen McCall's Holiday Planner For years the holidays left me with an emotional and financial hangover. If you can relate, I'd like to share the process that it took to turn this around for myself. The first step to making this holiday season better than previous ones is to examine what worked and what didn't work with previous seasons. Would you like to do that? It's not always easy, but let's give it a try. Here's an example. I remember when my children were young that I used to love to buy them lots of presents… even if I couldn't afford it. I'd start my shopping early when the department stores first started playing the Christmas music and decorating. (And you know that they start this process earlier and earlier these days, don't they?) But then I would continue to shop throughout the holiday season, sometimes forgetting how many presents I had already pur...Continue Reading