Even with the best planning you still may find yourself facing financial difficulties at some point in your life time. Getting through these difficulties successfully will depend on your personal circumstances and the mindset you maintain throughout these challenges.
Some of the major causes of financial difficulties include but are not limited to:
- Unexpected Illness
- Job Loss
- Relationship Breakdown
These situations can cause some extreme stress in your life and you may be fortunate enough to have savings in place to help you overcome the financial challenges brought on by these particular circumstances.
Recently I had the pleasure of talking to a good friend who has been going through some financial turmoil due to an injury at work. His income has been reduced by 30%, he had been living pay cheque to pay cheque with no savings program in place. The bank is threatening to take his car. He “was” stressed to the max as he will be off work for another 6 months due to the seriousness of his injuries.
As a financial expert I could be telling him, if only you had of saved some money for this type of emergency you would be better off financially than you are but guess what, I didn’t have to tell him that, as he knows this and I am the last person he needs to be hearing from to remind him what mistakes he has made.
When Brendon first went off work, there was a concern for his health and of course still is but soon after, the stress of being financially challenged soon set in. A few weeks into his leave from work he started looking at things in a positive light…first things first, he was still alive, he had a supportive family who are willing to weather the storm with him and stay by his side regardless of the challenges which lie ahead. Basically he started looking at what he had instead of what he lost. His positive mindset helped him relax; he even started listening to healing music (relaxation music) which reduced his stress level by leaps and bounds.
As a result of his positive mindset he was able to come up with solutions to help restructure his financial position which bought him time until he got back to work. He was able to save his credit score from getting to a point where he would not recover and he was able to avoid repossession of his car which he needed to get to medical appointments.
What if Brendon Maintained a Negative Mindset?
He would have been seriously stressed, probably not willing to try anything to help himself, emotionally distraught to the point he wouldn’t be able to think straight, an annoyance to his family and negatively affecting his recovery period.
The biggest take away I would like for you to have here is when faced with financial challenges stress will make things much worse and will keep you blind to solutions. I have personally been through this myself and a negative mindset makes things 150% worse…you need to face your financial challenges, accept the position you are in, learn from it and once you are back on track put strategies in place so it never happens again.
If you allow a negative mindset to take over you will not only make things much worse for yourself but also for those around you. Find a strategy that works best for you to cope.
To help you come up with strategies and techniques that will help you to avoid financial difficulties or deal with it take a minute and join our community by putting your name and email address in the form to the right…you will be taken to a complimentary video which will help you save money even while you are faced with challenges.
All The Best,
P.S. Maybe you are not facing financial stress right now and that is great….you will still find the content in the complimentary video helpful and can be used as a strategy to help you avoid any challenges coming your way.