There’s no doubt – America is at war and in the midst of a national debate as to why. Most people don’t question the universal support and appreciation of our troops who fight for our freedom. Did you know that while our soldiers are fighting for our freedom, many of them are drowning in financial debt?

Cash advance and payday lending stores have risen to epidemic proportions in heavily populated military areas. Many military personnel cannot be deployed due to the financial stress they face here which could distract their focus during critical combat situations.

There is help! Congress passed a law capping the amount of interest military personnel can be charged for a payday loan. Also the Servicemembers Civil Relief Act of 2003 provides a cap of 6% on all debts (credit cards, mortgages, car loans, etc.), provides eviction protection for dependents, and delays civil litigation.

Bottom Line: Tying a yellow ribbon around a tree or attaching a magnetic one to the back of your car is great. If you really want to help, ask the military man or woman you know if their family is aware of the provisions that have been made to give them the best possible opportunity to defend our freedoms without having to risk their financial freedom.

Want to know why most household budgets fail? Because most Americans approach budgeting the same way the approach dieting: Cut out everything I enjoy to accomplish my goal (losing weight or financial freedom.)

What’s the problem with going on a diet in which I say I’m never going to eat chocolate again? That will probably last about three days (provided those are three REALLY good days!) and then I will “fall off the wagon” and probably eat more chocolate afterwards than I would have eaten on all the days of my diet combined. This is why more people gain weight when dieting and also why people get further into debt when budgeting.

Financial goals and spending habits require a commitment to lifestyle change just the same way as proper eating and exercise deal with issues of weight loss. Don’t expect to create a budget and cut out every thing you enjoy. No one can survive life without a little bit of enjoyment! Try to find creative ways to either reduce the frequency of spending or what you’re purchasing without cutting out your motivations for getting out of debt and setting healthy financial goals.

Bottom Line: Don’t sabotage your budget by starting out unrealistically. Take the time to create an initial budget, then spend some additional time (usually 30 days) monitoring some fluctuating budget categories like fuel, groceries and entertainment expenses to get a realistic idea of your spending habits. Then be creative in finding ways you can reduce expenses to meet some of your long term financial goals like retirement, purchasing a home or taking a vacation!