A financial crisis presents significant change and challenge to be dealt with, but can also be a valuable learning experience, and a stop on the road to more stable financial times and a healthier long-term attitude toward money. (For example, a financial crisis can inspire more frugal habits, better long-term planning, and an attitude of gratitude for material possessions and other important things in life.) And even serious financial problems, like foreclosures and bankruptcies, can be overcome — look at financial greats like The Donald!
That’s why it’s not only important to make a plan to get through these tough times, but it’s important to have a positive attitude toward the future. If you keep your eye on the possibilities of the future and bear in mind that much better times can be created ahead, dealing with financial challenges of today can be less stressful.
When creating a plan, you should look at all the possibilities you have open (even if it may not seem like there are many), and talk to as many wise people as you can, in order to be sure there are no avenues you’re overlooking. You may want to speak with a financial advisor or credit counselor, for example, and get a clear idea of where you are right now and where you’re going. Your plan may span several years, but it’s important to have an idea of how you’re going to handle this crisis. Not only will it be easier to know what to do, but having a plan can put your mind at ease so you’re not thinking about finances and "what to do" all the time. (For more ideas and tools for managing your finances, see
About.com’s Money Channel.)
In addition to making a plan and maintaining a positive attitude, it’s important to keep your positive vision for the future in mind. Your long-term goals may include a stable financial situation for yourself and your family, and a life that includes joyful activities and close relationships. Your short-term goals may simply include getting through the next month — or week — in a relatively peaceful state. Both long-term and short-term goals are important.
You can create a vivid mental image of what you hope to find in the future, and revisit it often, or you may want to create a vision board for yourself to flesh out what you’d like to see in the future. It goes along with the advice often given to tightrope-walkers: Keep your eyes on your goal, and don’t look down!
For more important information on handling the stress of a financial crisis, see page 4.
Feature Navigation
Page 1: Remaining Calm
Page 2: Changing Your Perspective
Page 3: Planning For The Future
Page 4: Getting Help
Email This Page To A Friend
