Financial Planning

A person who has been living a life that has revolved around their drug or alcohol addiction can suffer many different consequences in their life. Outside of the obvious effects to their health and mental state, it also affects other realms of their life and livingness quite negatively. Since a person struggling with an addiction begins to neglect or drop out certain responsibilities or skills in their life, there tends to be repercussions to these areas. This often leads to requiring the individual to relearn how to handle or manage these things effectively, or at a minimum restructure their lives to once again make it conducive and promoting of these aspects. Such is the case that happens to many addicts in regards to a very important factor in day to day life, which is financial planning.

Addiction can ravage finances to such a large degree in many ways. Since an addict shifts focus in finances from funding their future, paying bills or providing for their family, over to using the money obtained to get more of their addictive substance, financial responsibility gets lost in the mix. When that is not enough, they start to do whatever they can to get money, even stealing or robbing, solely for the purpose to purchase more of the substance. Fueling their addictive and destructive habit becomes their one and only tunnel-visioned goal often times. While there are “functioning” addicts, as they are called, addiction generally only goes one direction, which is downward; so most end up in the above condition at some point.

Money in fact can even put one at a risk for relapse. Since we all know how much stress financial issues can place upon a person, this can cause those in recovery to begin to contemplate using or even go through with using again to help relieve some of the pressure that money problems can bring. This is why it is quite vital for a recovering addict to be able to properly plan with regard to finances now and in the future, to help safeguard their long term sobriety.

What is Financial Planning?

Financial planning can be looked at as quite an umbrella term, since there are so many different facets to the category. That being the case, there is many things a person may need to learn with regard to finances. Financial planning can include, but is not limited to:

  • Managing Expenses - How to keep expenses down to what is necessary, as well as keeping up with them. It could also include learning what type of expenses to take on, and learning balance between necessary spending such as bills, and pleasure spending such as entertainment.
  • Savings - The saving of money over time for whatever purpose is a vital ability to have. This includes bringing expenses down to save more money or putting away a portion of money you receive to build up an amount. Having the knowledge of methods to save money can be crucial, so that one can purchase or pay for a living space, or have a fund that can be used in case of emergency, like medical bills.
  • Business Finance - Business finance can include a large amount of factors over and above what it takes to manage personal finances. It can include things such as accounts payable, accounts receivable, and balancing the books. It can be very valuable for an individual to have skills and knowledge in these things, so that if they start their own business, they have a grasp of what responsibilities there are with regard to finances.
  • Future Preparation - Finances can be involved in large decisions and parts of our lives now and in the future, so knowing how to plan for future finance needs is important. This can include things such as planning for a large purchase, like a home, or building up a college fund for yourself or a child. Proper financial planning is critical when it comes to large expenditures like this.

There are treatment programs that integrate either courses, or instruction upon financial planning for those in the program. This is a fantastic component to any treatment program. Since recovery is not simply becoming sober, but rather a lifelong commitment to a better life with the absence of substances, it is important to learn, rebuild and maintain critical life skills such as financial planning. While most treatment program courses in financial planning are going to be in regard to personal finance, some will even instruct and go over it as it applies to businesses or in a company. This way they gain substantial knowledge in regard to embarking upon a business endeavor, and how to best manage that. They could also include information regarding making business endeavors or personal finances achieve solvency as well.

Commonly, only a select few treatment centers offer these types of education and instruction. Being that financial planning can be an extremely crucial component of living and maintaining a morally correct and productive lifestyle, when looking into entering treatment, it can be invaluable to find and attend a center that does offer this. Be sure to review treatment options carefully and find out if it is provided if you feel this is something that could benefit you greatly. Truthfully, it most of the time can benefit any individual attending treatment, being that when they are leaving the treatment center, they have that much more knowledge and skill to assist their reintegration back into being a productive member of society.

If you or your loved one are struggling with an addiction to drugs or alcohol and ready to get life back on track, give us a call. Our staff are extremely experienced and knowledgeable in the different types of treatment and treatment centers across the nation, and can go over the different options with you. Sorting through all of the different centers to find the right one can be difficult, but we are here to streamline that process. Our advisors are standing by for your call to help find you or your loved one the perfect private inpatient treatment center.

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