The P.A.

A weekly address from Patrick Adams,
President of St. Louis Community Credit Union

Create New Financial Habits That Will Serve Your Family For Generations To Come!

On May 31st, 2011, posted in: Uncategorized by

St. Louis Community Credit Union is in it for the long haul. We’ve been around for almost 70 years.  That’s approaching four generations.  So, there’s a good chance if you’re one of our younger members that, in addition to you, we’ve helped your parents, grandparents, and your great grandparents.  That’s cool.  Now let’s work the other way, we also want to serve your kids, your kids’ kids, and your kids’ kids’ kids.  In other words, we’ve got a whole lot of love left in us for generations to come.

Now that you know that we love you, I have to be a little critical – just a touch, but enough to send a wake-up call.  I’m talking to somebody out there and I hope the next few paragraphs get your attention.

Things have to change.  You have got to stop spending money you don’t have.  You have got to get better credit by borrowing less and paying it back; you must pay fewer fees by managing your checking account; please stay out of payday lenders; mark your calendar to start a savings account; and generally speaking, become a better, smarter consumer.

You must do some introspective mining and look at what you’ve been doing in the way of money management, and then ask the “difference-making” questions:  (1) why am I doing it that way? And (2) how do I stop?  These are key steps in the formula to begin making change.  Let’s practice…repeat after me…what am I doing?  Why am I doing it that way?  How do I stop?

If you begin doing things differently, you set loose the formula for prosperity – not only for you, but for that family tree full of kids that have yet to show their face at the annual reunion.  Your kids’ kids’ kids have yet to be thought of and are decades from occupying the spare bedroom turned nursery, but you can begin the generational change right now.

First, get the financial education that comes with answering the what, why and how that we just talked about.  Second, bridge the gap between learning a better way and beginning to practice it by finding a financial institution that provides you with access to the products and services you need to get the job done.  (St. Louis Community Credit Union comes to mind.)  Third, your better habits will begin providing results in the form of increasing your monthly cash flow.  As a result, saving some money will result in household stability.  That household stability begins allowing you to create wealth.  And finally, your hard work will reach the point where future generations will benefit from your frugality and new habits.

Nope, it’s not easy.  In fact, it takes hard work and willpower.  It takes a commitment.  Discipline yourself and your family to changing your habits to those that will result in you creating wealth – both in the present and in the future.

The Credit Union can help you.  Our very nature is to help you be successful, now, and for your kids’ kids’ kids.

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