The Broke Accountant

Hi Scott,

I am a single parent of two kids and, financially, I am hemorrhaging. I have been trying to domino my debts for three years, often paying off too much and leaving myself struggling (then ending up in more debt). I have multiple family debts and multiple payday loans that end up costing me a fortune to repay. I have accessed my super twice in the last five years, and have only $9,000 left in super. But here’s the kicker: I am a qualified CPA accountant — I should know better.

Jane

Hi Jane,

That must have felt good to get off your chest, right?

Well, I’ll let you in on a dirty little secret: I know a couple of financial pros who are broke. I also know a doctor who smokes, and a manic-depressive motivational speaker.

Look, let’s be honest, going to school and learning how to read a balance sheet doesn’t stop you from ordering $50 worth of UberEats instead of cooking a $5 spag bol. Managing your money is about your behaviour and the story you tell about yourself. Which for you currently is, “I’m a fraud, and I’m ashamed of myself, and things won’t get better.”

It sounds like your life is out of control.

And you know what?

As long as you believe it, you’re right. Your life will continue to spin out of control, and you’ll end up bankrupt.

So you need to find a new story. For example, you could say to yourself, “I’m an educated single mum raising two beautiful kids. I’ll do anything for them. No one messes with my family.”

You Got This. 

Scott