You decide every moment of every day: Who you are and what you believe in. You get a second chance every second.
Spring is upon us and along with spring comes thoughts of new beginnings and in these uncertain times most welcome new beginnings. Jobs aren’t as dependable as they once were, which requires many to work harder and definitely smarter. Even people who are well prepared have made mistakes or encounter misfortunes that has caused their financial lives to sustain a tremendous blow. It can happen to the best of us.
It doesn’t help to wallow in self pitty and beat yourself up, but it does help to remember: This is not the end; it’s the beginning of something new. People bounce back from financial disaster all the time, so can you.
Here are a 5 ways to Spring Forward Financially:
Acknowledge the problem. The first step to solving any problem is admitting you have one. Call out the issue at hand and label it for what it is. Is it a loan that you cannot pay off? Is it an expensive habit? Unstable income?
Answer some questions. The odds are you got yourself into your current situation. This is not the time to play the blame game. What you need to do is take the time to reflect on where you mis-stepped. What could you have done differently and what are you willing to do to prevent it in the future? What are some bad habits you need to break?
Clean the slate. If you owe somebody an explanation, reach out. Inform your friends, family, utility company, bank or whomever else about the issue you face, and let them know you’re ready to work toward a solution. Be open and honest with them. You’ll likely receive a much better response than if you ignore the problem.
Start walking the walk. Do what needs to be done to get back. Get a grip by setting up a debt pay-down schedule, tracking your expenses, creating a monthly savings goal and automating contributions. Have an accountability partner, a friend or spouse, to keep you on track. If you find that you’re not able handle your issue by yourself, seek help from people with the expertise you need.
Mistakes happen. Instead of beating yourself up, it’s time to set the wheels in motion for a fresh start.
Find additional income. While you are figuring out where your life will take you next, you’re going to need money to keep the furnace on and groceries in the fridge.
Ultimately, Resilience is the key. To overcome your position and win you must posses that ineffable quality that allows some people to be knocked down by life and come back stronger than ever.
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