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What Do You Do If You Are Crumbling Financially?

Updated on October 18, 2017
How do you control your money before it controls your life and future? By doing an honest assessment of where you are, and where you want to be...and facing those fears
How do you control your money before it controls your life and future? By doing an honest assessment of where you are, and where you want to be...and facing those fears | Source

Reality has a way of smacking you between the eyes, doesn't it?

I've seen homeless sleeping on curbs, in the woods. I talk to people who are financially wise and save money, and people who come in who blow money, and ones who just plain have a rough life financially and scrape by barely check by check.

Money grows if you plant it. It is no different than making goals to follow a dream.
Money grows if you plant it. It is no different than making goals to follow a dream. | Source
Is it time to do an assessment of your debts to your income? You may be surprised, but most people are disappointed.
Is it time to do an assessment of your debts to your income? You may be surprised, but most people are disappointed. | Source

The pits of financial despair require one thing to overcome it...

I hear this all the time, and guess what? I've experienced it all too. "I have no money." "I can't pay all my bills." "I don't make enough money."

People lose their jobs. A spouse dies. The car breaks down, and payday isn't for another week. Now you have to call the utilities to get an extension, and how will you buy food? The kids need shoes. You need things. Everyone in your household needs something.

How do you get over this mountain of terror that all revolves around money?

Three years ago, my husband moved for a job offer. We were in foreclosure. We lived in the middle of nowhere and I had three children with one of them being an infant. There were no jobs close by. All we saw was a vicious cycle of dead end hopes and shattered financial dreams.

So we stayed up late one night when the kids were all in bed, and we wrote down what we wanted for our lives. We wrote down our hopes and dreams for our family, even though we were sinking in the pits of hopelessness.

And then we did something that hurt. We wrote down an honest assessment of where we were at that moment, and wrote down worst case scenarios. We faced our fears.

We prayed. We swallowed a whole lot of pride. We realized by doing an honest assessment, based on where we wanted to be, we would never get there if we stayed where we were. If we stayed, we died. If we stayed, we gave up our future. And we knew with all that we were as humans, husband and wife, and a family, that we had to make a change or die inside.

My husband was able to negotiate a short sale with the bank, and we were given 5 days to vacate.

I went to my moms with the kids, and my husband took the last of our money he had from his last paycheck and drove all the way from Kentucky to Florida to start the new job. He secured us an apartment, and started the new job right away.

It's been nearly four years.

If we had not have done an honest assessment, and dreamed a little, facing our fears, we would not have:

Been given opportunities in careers that gave us hope. My husband is a successful business owner, an entrepreneur. I have a steady career, retirement and opportunities that I never dreamed possible. We provide for our family.

The first step is you saying: "I don't have or make enough money."

Then the second step is writing down your hopes and dreams. Where do you want to be? Where have you been financially? Write it all down. Look at it, be brave. Do the assessment. Then take initiative.

How are you treating your money? Take control of it or it will control you.
How are you treating your money? Take control of it or it will control you. | Source
Chasing after money may feel like a bottomless pit at the depths of the ocean unless you have a plan to work smarter
Chasing after money may feel like a bottomless pit at the depths of the ocean unless you have a plan to work smarter | Source
Sometimes all you need is the calm hope of knowing everything will be okay, no matter what because you didn't give up.
Sometimes all you need is the calm hope of knowing everything will be okay, no matter what because you didn't give up. | Source
The choices you make now financially affect those around you. Especially your children
The choices you make now financially affect those around you. Especially your children | Source

What does it take to face your fears?

Initiative: The ability to assess and initiate things independently.

People will spend years assessing their hopes and dreams, and believing they can do anything, but it takes courage and initiative to make them a reality.

Money does matter, and this is why

We have all heard that saying: "Money makes the world go round." It's true.

The elderly retirees scraping by on social security or disability will tell you that. They will also tell you they wished they had of saved more. They wished they could have built up bigger 401k's or even had a retirement at all. Or maybe worked longer if their bodies had of held out on them.

I work in banking. I love helping people with their money. I want to see families do better, be better, and have a financial future.

People that tell you: "Money isn't everything." It may not be every single thing, but it does matter.

It makes a difference in where you will live when you get old. It makes a difference in what you will eat, or even how you will get food.

How will you get around? Will you be able to afford higher food, gas and utility costs? Because guess what, those necessities will never change. But they may get more expensive.

In all walks of life, everything revolves around money.

I have also learned that good money habits can start right away, and lead to results immediately no matter where you have been.

I care where you have been financially. Because it matters. Money matters.

Where you have been financially helps people like me assess where you are going. Just like my hard life story above, where you have been has tons to do with where you are going. And money will make or break you.

People are brave enough all the time to dream big and have hopes for the future. But people also forget to have hopes financially too. There is more to life than just money, that is true.

But it takes being brave to do an honest assessment and face those money fears.









How do you handle financial hardships?

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    • profile image

      Yali 

      5 years ago

      There isn't any PMI on subprime loans, so the anwser is NO. A few years ago when the subprime market was at it's peak, millions of these loans were underwritten and approved. They were typically 2/28 ARM loans and PMI insurance companies would not even insure these loans. The interest rates were high to start with, but fixed for 2 years. The plan was for the borrowers to clean their credit up before the 2 year period was up and then to refinance into a low fixed rate mortgage. Unfortunately, this didn't happen and borrowers who could barely afford the initial payment, certainly couldn't afford the increased payment when the adjustment took place.PMI insurance is for credit worthy loans, not subprime loans.Banks are losing so much money on these loans because people can't afford the new and higher payments and are walking away from their homes. Foreclosure is at an all time high everywhere.

    • april holland profile imageAUTHOR

      April Savage 

      6 years ago from Florida

      Yea you are right denise, people need to look ahead and work to get prepared instead of blowing money on stuff that doesn't last. Thank you so much for your comments!

    • denise.w.anderson profile image

      Denise W Anderson 

      6 years ago from Bismarck, North Dakota

      You are right. We need to re-evaluate where we spend out money, and make sure that we are prepared for the future, no matter what happens. If we spend everything we have from every paycheck, and have nothing set aside, one day we will have nothing. We never know when something will happen and that income will no longer be available. We need to be ready for that day.

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