4 Tips to help you through Financial Hardship
Many of us will suffer some kind of financial hardship during our lives. None of us are immune to losing our financial footing and physical security. The main thing to always remember with any challenge to your finances is that things will improve. When we suffer a financial hit it can affect us in many ways, it is actually quite soul destroying because we all desire that sense of freedom that money offers us. We often connect money to the value of whom we are as a person, yet this causes great harm to our sense of self worth and inherent value. When we tie our value into something external then our innermost being will always suffer the consequences. Our self worth and value is something that we inherently hold; it is our light from within that we should only seek to brighten and strengthen.
Lack of money should not promote a sense of lack within you. Money is just another form of energy; its flow will always fluctuate.
“Money won’t create success, the freedom to make it will” – Nelson Mandela
1. You are not alone
Financial pressures can be mentally and emotionally draining; this in turn directly impacts our capabilities of actually finding a solution. Losing sleep and living with the anxious burden will leave you feeling trapped in that circumstance. Instead, show yourself some compassion, and realise that you are not alone. Be willing to ask for help from friends or family. Think about what you would do to help someone in need… there are people that may do the same for you if you just ask. Find your comfort in all your strengths and keep your heart and mind open. We are never alone in our hardships.
2. Release shame or harsh self-judgement
We often feel a sense of failure or shame when we hit hard times with finances- this is just a perspective that we mentally construct. When we bravely step outside of the problem we gain clarity and creative focus to forge a new way forward. Seek the bigger picture and look for the lesson behind the hardship- how will this circumstance serve you well for the future? All experiences offer us a chance to understand ourselves better and develop a sense of trust from deep within. Let go of judgements and anything that doesn’t serve you to progress. Remember that rock bottom places are nourishing ground for new beginnings- and you will find yours.
3. Take time to reflect
The first thing you may want to do is to shut down and close yourself off- this may initially help as we need time to introspect and go within. After some reflection we realise that we cannot avoid life or its challenges, as tough as they may be, we are innately tougher. You have the intrinsic power to change the situation that you are in and find a way to move forward. Do not allow hardship to impact on your self worth, belief or confidence. Accept the challenge as a process and something that you can and will navigate yourself to calmer waters from. Stay open to solutions and use adversity as a source of fuel to inspire you to reach for the financial freedom you seek.
Don’t allow the fear of failure to set in- the people that fall and find a way to beautifully rise are far more resilient than the ones that never fell.
“Time is more value than money. You can get more money, but you cannot get more time” – Jim Rohn
4. Look for practical and creative solutions
Once we absorb and accept the financial position that is before us we can take action to rectify and restore our balance. Anything we fight against sucks the control from our fingertips; when we take our power back we can find practical and creative remedies. There is always a way out when we search for the possibilities. In the first instance we can:
Draw up a budget sheet
Sometimes just seeing your incomings and outgoings clearly in black and white can help you to find ways to cut back on non-essentials. The importance of a budget sheet is that it brings your finances into a sharp and discerning focus. Take control and accept responsibility for where you are at and where you go from there. Accountability puts the power in your hands to initiate the changes needed.
Communicate to debtors
Keep the lines of communication open (don’t try to hide away!). You may be surprised at how understanding creditors can be if you just explain the situation and what action you are taking to improve your financial circumstance. You may be able to set up an agreed payment plan that is realistic and helps take the weight off your shoulders as you try to find a more stable footing. Seek further assistance from professional agencies that deal with debt where needed.
Adjust your perspective to find some positivity, focus on the solution and not the problem. Show gratitude for what you do have, and always remind yourself that tough times do not last, but tough people always do! Hold out for your rainbow.
“Everything will be okay in the end, and if it’s not okay, it’s not the end.” ― John Lennon