We have all heard the expression “Money talks, bullshit walks” … but these days it seems like money is definitely doing most of the walking. That is, walking completely away from every struggling young adult, leaving us all broke and frightened for the future. Or am I alone? Between rents, car payments, commuting costs, student loans, phone bills, credit card debt, food, heat, electricity (Hmmm, did I miss anything?), etc., we are all currently facing our very own personal economic crisis.
The truth is these are very uncertain times. Jobs are certainly not as dependable or as stable as they use to be.
-And a person cannot rely on support from the government either.
It is a difficult time where any little thing can tip the ship over and devastate one’s financial situation. A serious illness could, heavens forbid, set off a chain reaction of financial nightmares.
Even people who feel they may be well prepared for such a disaster can make mistakes or encounter misfortunes that potentially ruin their savings.
Honestly, it can happen to the best of us.
However, now we address the issue. Take control of your money. Aside from being, metaphorically speaking, “The root of all evil!”, it is also the key component to survival. The weight of your debt is the equivalent to the weight of the world. Trim the fat.
When assessing your monetary endeavors, we attribute the following may be able to help you to bounce back on track, on the road to financial freedom, or at the very least- comfort!
Top 6 Ways To Bounce Back From Money Mayhem
Accentuate The Positive
Stay calm. This is definitely easier said than done. After hitting a brick wall, or financially crashing, it is best not to completely lose your mind or sense of control. Twenty mile march, not a sprint. Handle each task at hand. By keeping a level head and positive attitude, you are more likely to learn from your mistakes and figure out how to avoid making them in the future. Rehashing all of the negative self destructive behaviors, removes you from the present and from taking the initiative to correct the problem and move on. Worrying does nothing more than robs you of your time and energy- unless of course you committed tax evasion. If that is the case, “Good Luck and God Speed!”
Seize the day once more. Acknowledging exactly where you stand in an financial glitch is extremely essential and excruciating at the same time. Not to mention the agony is damaging to your inner confidence making it more difficult for you to try and bounce back. Reiterating #7, stay positive. Find relief in the fact that you now know what you are up against. Your hole may be deep, but this is the best way to establish a plan to regain control and reveal your character.
Get a Grip
- Track your expenses by listing every bill you have and what your costs need to cover.
- Your wants and desires will have to take a back seat for while. Right now, it’s the basics.
Beware Of Crooks
People in financial distress is the precise demographic for fraudsters to target. Credit repair schemes are not only notorious in fraud accounts, but it is the juicy bait for those panicked and desperate. Understand that rebuilding your credit takes substantial time, but even severe foreclosure and bankruptcy cases will be removed from your credit report in seven to ten years. Stay focused and determined.
Safeguard Your Monthly Payments
Perhaps it is possible to adjust to smaller payments for a few months, perhaps it is not- but it is worth a try. Do not wait for trouble or to fall behind on monthly payments, especially renters who may face eviction, or homeowners who could wind up on the street! Mortgage companies offer immediate and long-term solutions for these kinds of problems. Investigate your options and take advantage of what is available.
Find Additional Income
Bottom line is not everyone is going to care whether or not your furnace is lit or you have groceries in your refrigerator. I know desperate times call for desperate measures, so I am not expecting anyone to start hookin’. However, get creative. Think outside the box about how you can bring in any additional income.
- Check with local schools to ask how to become a substitute teacher. Not all schools require teaching credentials.
- Love animals? Launch a pet-sitting or pet-walking business during your free time.
- Freelance work which allows you to work from home and save on commuting costs could be a great option.
Get Professional Help, Go To The Experts
I don’t just mean a psychiatrist, although after all that you may feel like you need it. Pride may be bruised, but some obstacles are simply too hard to get around without help. It is okay to ask the professionals for guidance. Do not become paralyzed or numb to the idea. You do not have the luxury or time to stay stuck between a rock and a hard place.
About The Henry George School of Social Science
The School provides tuition-free courses and seminars dedicated to promoting the principles expounded by Henry George in the conviction that they represent the only true basis for economic freedom and social justice, and that their application will remove involuntary poverty and generally contribute to the peace welfare of humanity.
These courses and seminars offer the tools to understand the root causes of economic crises and to discover simple reforms that reward free enterprise, raise incomes and promote responsible development.
As Henry George himself put it, “Social reform is not to be secured by noise and shouting, by complaints and denunciation; by the formation of parties, or the making of revolutions, but by the awakening of thought and the progress of ideas. Until there be correct thought, there cannot be right action, and when there is correct thought, right action will follow.”