By Melanie Hasty-Grant


“I am never going to get out of debt!” Maybe you have caught yourself saying this. Perhaps out of frustration or the realization that credit is an easy way to purchase whatever you want the second you want it. That sense of instant gratification the moment you swipe that credit card. When used correctly it is a valuable tool.

Honestly, many folks across the world can’t afford to purchase a house or car without borrowing money to pay it back IN manageable increments over time.

So what’s all the fuss about? Borrowing money is relatively easy to accomplish. The commercials on TV, with celebrities talking about it, are so convincing! Surely you can pay the minimum monthly payment at the end of the month. You reckon? Debt has a way of snowballing into something much larger if not watched and monitored closely. As a result, the borrower becomes a slave to whom or whoever the lender might be. When your financial future is on the line, here are a few things to keep in mind:

  • Separate items into needs vs. wants. Wants and needs are two completely different categories. At times it can be easy to confuse the two. The newest technological gadgets, the latest fashion trends, entertainment and having dinner out with friends frequently, are more indulgences than basic living expenses. I remember the saying from the movie Fight Club, “We buy things we don’t need, with money we don’t have, to impress people we don’t like.” Try to purchase when you are in the right frame of thinking; not running on emotion. Are the things you’re buying just things, or do you actually need them to prosper?
  • Make the most of what you have. No matter your salary it must be managed and planned for wisely. We do this every day at the office. Financial plans are personalized to each person we meet. Having a financial plan and sticking to that plan is extremely important. Budgets vary household to household, but every house should have one written down. Money can leave your bank account quick if you don’t check up on it!
  • Don’t let history repeat itself. We are all human and we all have blunders now and again. Don’t be afraid to admit your shortcomings. The best thing to do is learn from it. Maybe you didn’t anticipate something to cost as much as it did when you first set out. Whatever the reasoning may be, try not to be so hard on yourself. Refer back to your plan, make adjustments were you can, and keep moving forward.

Don’t be a slave to the lender. We can help. For more information go to or call 918-272-1120.

Melanie Hasty-Grant, Experienced Licensed Professional Counselor and Managing Principal at Waterstone Private Wealth Management.

Securities offered through Cetera Advisor Networks LLC. Member PINRA/SIPC. Investment advisory services offered through CWM, LLC an SEC Registered Investment Advisor. Cetera Advisor Networks LLC is under separate ownership from any other named entity.

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