8 Signs You Need Outside Help with Your Finances

I’m a home improvement enthusiast. If there is a remodel project or a home maintenance task that needs to be completed, I’m all in. Carpentry, plumbing, electrical, drywall, painting, landscaping – I’ve done it all. But when the stakes are high, I call a professional. This means calling for help when an expensive appliance needs to be replaced or the task requires the use of tall ladders such as getting on the roof. And occasionally it means calling for help when I’ve made a mess and need help cleaning it up.

This was the case when I drove the final screw in my newly installed bathroom vanity. I was confident I landed the screw on the stud. It felt (somewhat) solid and the stud finder gave me positive indications that solid timber was behind the wall. The following weekend, I went to the basement to discover a very large water bubble forming under the paint near the ceiling. Having just moved in weeks prior, I was confident this new problem was unrelated to any work I had been doing in the bathroom, I conceded and called a plumber for help.

The Signs

Similar to the needs and attention of our homes, our personal finances also need constant attention to manage. To use the analogy, we can have paint bubbles form in our financial lives that require more than a DIY approach. We need the help and support from a financial professional to help us get our finances back on solid footing. Here are some signs that you need outside help to manage your finances:

• You have struggled to create and stick to a budget. Managing your budget needs to be a part of your daily life. Not that you spend inordinate amounts of time studying it, but you should have an idea of where you are at against your plans. A financial counselor can help you create a plan and hold you accountable for sticking with it.
• You find yourself unable to make ends meet at the end of the month. No larger paint bubble that can form in your financial life than not having enough money to provide for your needs. If you find yourself struggling, get help from someone who can help. In this situation, many financial counselors will work with you at little or no cost to help you get financial control.
• Every month you dip into savings to pay for your expenses. You may feel like you are the only who does this, but this sign is very common. After all, we have our savings in place to catch us when we overspend. But if you find yourself doing this month after month, it could be a sign that you aren’t financially healthy and need help managing your money.
• You desire to reach certain financial goals but aren’t sure what steps are necessary to achieve them. You know what you want to accomplish but feel a bit hopeless that you can ever achieve those goals. Maybe you don’t feel like you make enough money. If you aren’t sure how to reach your goals, seek the help of someone who can review your financial situation and advise how to best achieve those goals. You might find they aren’t as far out of reach as you think.
• You find yourself changing financial strategies more than a few times per year. This can apply to budgeting strategy, investing, or even your saving goals. If you are constantly changing direction, you need a professional to help you get clarity on your goals and objectives.
• Finances are a source of tension in your marriage. Managing financial decisions in your marriage is so important to a lasting marriage. It is one area that requires open communication and unity on the outcomes. If you are struggling to communicate about money, or financial issues are consuming your marriage, get help.
• You are in debt and unsure how to dig back out. Debt can pose a serious risk to your financial situation and finding a way out can feel daunting and hopeless. Get a trusted professional to walk alongside you during this time to help you with a plan for getting out of debt.
• You want to increase your generosity. Increasing your generosity should be on everyone’s list, but navigating the tax rules to make giving efficient can be complicated. If you want to maximize your giving, get help to develop an efficient strategy.

When the plumber arrived at 2 am, he began scoping out the drain lines to determine the source of the water. Through this process, he found the 2” wood screw I used to secure the vanity in the downstairs bathroom. Even if we are a seasoned DIYer, we all make mistakes and need the help of a professional to fix the problem. If you have signs that your finances are struggling, don’t DIY your way through the problem. Your DIY approach is likely what brought you to this place to begin with. Seek outside help from a financial counselor or advisor who can help you get your finances back in order.