I have had chronic financial problems for years; until I was 40 I had two years where I earned more than $12,000 a year. I had several years at $25-30,000, down to about $10,000 for several years and have been at $32-35,000 a year for the past 5.
And I am not consistently good at managing money. I can do very tight austerity budgets,but give me a little discretionary income and I can really get my money out of whack easily. Nothing huge, I don’t go into massive amount of debt, but always a bit short of what I need to get by.
It’s been stressful and overwhelming and anxiety producing. It’s been coming to a peak for the past year or so. My electricity was turned off a year ago and didn’t have it again until a week or two ago when my MD signed paperwork so they had to turn it back on for medical reasons.
Sometimes, frequently, the bigger the struggle, the bigger the hit to your self esteem, the more you need to turn it over; give up control. I finally did just that.
Yesterday, I gave verbal control to my brother to manage my money and provided him the information to start doing my banking on line. Today I signed a POA giving him power to manage my financial affairs. His wife is second agent.
This gives him power to help me get my car out of foreclosure and set up payment plans with the entities to which I owe money,. He and his wife are considering buying my car and letting me pay them back or buying a different one for me that I would pay off.
They are going to help me establish a budget that will meet my needs, including savings for last minute things like new tires, things of that nature.
They are going to help me get set up with online banking so that that runs itself as much as possible.
I cannot express how relieved I am to have this weight off my shoulders or how grateful I am to them. They are making such a concrete contribution to the quality of my life, giving of themselves and their resources so generously.
It is expected that this ‘total control’ should only be for a few months. Then it will be up to me to make the best of it.
Wish me luck as I choose the other fork.