Many people I come in contact with have one question in mind – should I declare bankruptcy?  They have worked themselves into a financial mess and they feel the only way out is bankruptcy.  Little, if any,  research is done personally on what the process, outcome , or real impact of the bankruptcy would be.  However, the thought of a clean slate, financially, is so attractive.

I do not advocate bankruptcy.  It has been my experience that most people I meet are not bankrupt.  In most cases people are bankrupt-able, but they are not bankrupt.  They could work their way out of their situation, but they know it will take time and it will take much effort.  As a result, the bankruptcy path is the one they choose.   Chapter 7 or 13 – which is the best?

It always puzzles me why people would prefer a chapter 13.  While the legal protection provided is one aspect to consider, chapter 13 is really an organized debt consolidation/repayment plan.  It surprises me when I learn of the chapter 13 filing and likewise find the the filer has never contacted their creditors to see if a structured repayment plan could be agreed to prior to the bankruptcy filing.  Yes, this is a difficult task – but was it ever sought?

Bankruptcy is a tool that can be effectively used and we should all be thankful that the option is there.  But have you explored other options?  If you could get on a repayment plan that you negotiated with your creditors would it be better than a bankruptcy filing on your family and future?

Max Lucado has been one that God has used over the last many years to help provide direction to people.  Providing Biblical, spiritual advise and direction has allowed Max to become the one that many continue to turn to for help.  His new book, Max On Life, provides more help in this needed area.

Like a reference book, Max addresses areas in life including dealing with conflicts, turning from God, prayer, and knowing who God is and that He loves each of us.  Not to replace the Bible, this books looks at many of the areas society continues to question about God and our relationship with Him.

I liked the index type approach to this book allowing the reader to go directly to the area that best helps them in their time of need.  However, I would encourage the reader to read it all and then use the book as a reference.

Through his writing Max has helped many and this book is another that will help many for years to come.

Last week I reported a blog about The Misconception.  Oh my, I find this all the time – people wanting to make changes, but they do not want to change.  In so many cases, there are other things that keep people in the same old rut – sacred cows.

When it comes to changes some people are ok with it as long is it does not change anything that is important to them.   Are you one of those who would like to change but the thought of not buying clothes would kill you?  What if you had to stop buying gifts for your kids, grandkids, or other family members?  To many of you the thought of not being able to go out to eat or to buy a new car every year drives you to the edge.  What is your sacred cow?

Is there a sacred cow holding you back?  Those who have finally set aside their sacred cows are realizing their financial lives can improve.  The interesting thing is that your sacred cow(s) may be preventing you from succeeding financially, spiritually, career-wise, professionally, etc….

What is holding you back?  Really?  Are you going to let that stop you?

I remember Andy Andrews as a comedian.  Just after my wife and I were married, he used to show up on some of the shows we would watch on TV.  He may still be a comedian, but he is a tremendous writer.   In The Final Summit, Andrews mixes history, famous characters, and real life solutions to the troubles that many find today.

When I first started reading I had no idea where this book was headed.  Having not read the earlier books, I thought I was a little lost as the book took off.  Once I was in the book, it was hard to put down.

Some old names from the past like Ben Franklin, Winston Churchill, King David and others all have a part in this book that can be an inspiration to anyone who reads it.  David Ponder is the man at the center who comes in contact with the people from the past to help him in his search to save humanity.

Final Summit is a quick and fun read.  People today are looking for hope and encouragement.  The Final Summit will provide everyone with the encouragement we always need.

The Final Summit has me now making plans to read about David Ponder in The Traveler’s Gift.

I originally posted this blog in the spring of 2010.  Events over the last couple of weeks have convinced me that it is still true…..

Daily I meet people who want to change their financial lives.  They desire to get out of the bondage of debt, quit living paycheck to paycheck or want some peace in their relationships.  They really desire to make the change that will bring relief.

Working with these same people, couples and individuals alike, has brought me to this conclusion over the last five plus years – so many want the change, but they are not willing to make the change.

Weight loss, physical fitness or other areas require us to change if we plan on achieving the goals or changes we desire.  You can not desire to lose 30 pounds and still maintain the same calorie intake.  You can not expect to complete the marathon of you do not condition yourself to run in it.

Finances are no different.  People want to change their path, but they are not willing to change what they are doing.  Things like shopping habits, abilities to purchase whatever and whenever, eating out frequently, obtaining the latest toys and gadgets, giving to keep up with other family members – the list goes on and on.  To make the changes we desire, we need to make the changes that work.

So many possess the misconceived notion that if I think it, it will happen – regardless of whether I personally change my habits.  It does not work.

Change will only come about with change.

Tax time is here again.  This year we all get another three days to get those taxes filed and in.  Have your taxes been filed yet.  The magic day is April 18 (extended due to a holiday in D.C.).

April 15 is still an important date still this year.  It is the last day that you and your spouse con contribute to your 2010 IRA or Roth IRA.  You can only contribute up to $5,000 as an individual and $10,000 per couple – of earned income.  If you are 50 or older, you can contribute an additional $1,000 each.

What do you need to do?  Consult your brokerage firm or your professional advisor to make sure you get your contribution in on time for 2010.