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WORKSHOPS EXPLORE FEARS ABOUT MONEY, OFFER WAYS TO COPE WITH RECESSION

 WORKSHOPS EXPLORE FEARS ABOUT MONEY,
 OFFER WAYS TO COPE WITH RECESSION
 NEW HARTFORD, N.Y., Feb. 4 /PRNewswire/ -- A simple attitude change may be all that's needed to cope with the recession.
 Patricia O'Connor, owner of Conscious Financial Planning of New Hartford, N.Y., said it is common to think you are the only one who doesn't know how to plan for financial hard times. "Once people realize that no one knows what to do, they feel better and can proceed," she said.
 O'Connor's firm takes a holistic approach to money, that is, she looks at who you are as a person and then fits her financial advice to that. In her workshops, she spends as much time exploring a participant's beliefs and fears about money as she does giving financial advice.
 During this recession, she said that listening to the media's negative reports will only worsen a person's fears about money, and leave him or her paralyzed in regard to financial planning. "Stop listening to the bad news," she said. Instead, she offers a few concrete steps one can take to feel more financially secure this year.
 -- Make a budget. It is crucial to know exactly how much is coming in and how much is going out, and what the gap is -- or even if there is one. Often, after making a budget, people realize that they actually have money left over every month.
 -- Make a will. Nothing forces one to face one's finances better than thinking about leaving it to loved ones.
 -- Pay yourself. O'Connor urges all her clients to write a check to themselves first before paying bills. She suggests they deduct 10 percent of their monthly income, deposit it in a savings account, and forget about it. "By taking it off the top, you'll never miss it," she said.
 -- Every time you use your charge card, go home and write a check for the amount. Accumulate the checks and send them in when the charge card bill comes due. This will avoid large charge card balances and the high interest payments that come with them.
 -0- 2/4/92
 /CONTACT: Patricia O'Connor of Conscious Financial Planning, 315-733-3333/ CO: Conscious Financial Planning ST: New York IN: FIN SU:


SM -- NYTFNS9 -- 6466 02/04/92 07:19 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Feb 4, 1992
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