Financial management in the Wal-Mart checkout line

     I stood in line at Wal-Mart the other day and listened with “fascination” to the lady in front of me. She was on the phone with her bank. As she was dialing the phone she told her friend that she needed to find out why her checks bounced every time she wrote one to Wal-Mart. I assumed she was about to write another check to Wal-Mart and was concerned that it may bounce like the others. She was holding her open checkbook in one hand, unloading her cart with the other hand, and holding her cell phone to her ear with her shoulder.  

     The second thing that caught my attention is that she was asked for and provided her full name, address, phone number, drivers license number, and last 4 digits of her social security number. All that information was given out loud in a crowded line of customers that could have easily recorded that information.  

     I don’t know this lady’s situation, but her actions regarding her financial affairs could indicate a real problem. She was obviously concerned about her ability to pay. I have to wonder if her chaotic approach to managing problems with her account is an indication of her overall approach to managing her money. If she manages her income and expenses like she did her checkbook problem I bet she has a lot more issues with money.  

     Managing your money in a planned, studied, and organized fashion is essential to getting the most value from your income. Your ability to first manage and then second maximize your money’s “value producing power” is directly related to the quality of life you will lead. Allowing money issues to fester or continue only half addressed will slide you financially backwards. You will lead a life with fewer options to feel fulfilled than if you were creating options for yourself through the proper use of your income. It doesn’t have to be a full time job but it is a function that requires your regular and full attention. Your finances, regardless of how big or small, is an area of your life where you will definitely get a larger measure of success or failure based on the amount of effort you put into managing it.