Six Things You Need to Understand to Survive Potential Financial Ruin

I’ve faced the threat of financial meltdown more than once. I work as a freelance writer, and there have been numerous occasions when the projects have just dried up. It’s scary, and it would be so easy for me to fall into depression at these times – something I’ve done in the past. Here are six things that help me survive these difficult periods:

Empty Pockets

1.Taking Action is the Anecdote for Fear and Worry

The best way for me to avoid becoming paralysed by fear is to take action. This is so important because if I’m not doing something to try and resolve the situation, I’ll begin to feel powerless and hopeless. Even if the actual action I take doesn’t ultimately improve the situation much, it helps by keeping me out of the pit of despair. I’ll even do things like tweet my ‘hire me’ page on Twitter – I’m not really expecting any result from this, but it just feels good to be doing something.

2. Appreciate Falling Down on the Way to a Goal is to be Expected

I don’t know if it is possible for me to achieve anything worthwhile in life without spending at least part of the journey with my face in the mud. Failure and achievement go hand in hand – it is the cost of admission for anyone who hopes to reach their potential. If I see the bad times as part of the process, it makes it much easier for me to survive these periods of uncertainty.

3. Take Responsibility for the Situation

I need to take responsibility for my situation always. Blaming other people just doesn’t help me at all – it turns me into a victim and means I’m waiting for somebody else to come along and save me. Even if the actions of other people have helped to create the mess, the best thing I can do is to focus on my responsibilities for resolving it.

4. Remember Similar Situations in the Past

There have been many times in my life when it felt as if the sky was about to fall – I’m still here. I not only managed to survive these turbulent periods, but they always led to big improvements in my life. The reality is my predictive powers are miserable, and if I’ve been wrong in my predictions of doom so many times in the past, why should I trust them now?

5. All You Need to Do is Try Your Best

All I can ever do is to try my best – that’s it. If I’m worried about the situation, it means that I won’t be doing my best – worry just sucks up time and motivation. It’s not easy, but I have to keep redirecting this energy from worry to action. Doing my best means to continue fighting right up to the last breath – it means that so long as I’m breathing, I haven’t failed yet.

6. The Hard Times Make Us Stronger

I’m passionate about self-improvement, but most of the improvements to my life have occurred because the universe came along and hit me with a big stick. Very little in the way of personal growth occurs when things are going well for me – I expect the same is true for most people. Pain is a great teacher – it makes me teachable.

How to Deal with a Potential Financial Meltdown

  • Start taking action to resolve the situation – don’t fall into the trap of powerlessness and despair.
  • Read inspiring stories about successful people who have recovered from disaster.
  • Take full responsibility for your situation – even if there are other people to blame.
  • Remember previous occasions when you felt close to ruin – were your predictions correct?
  • If you are trying your best, you are doing enough – don’t waste energy on worry.
  • Understand that the tough times are going to make you stronger.
  • 7 Comments

    1. I liked your focus on taking actions, and that when more actions are not possible, on at least reading inspiring stories of people who have overcome similar circumstances. I think that is very beneficial and something I would not have thought of.

    2. Simon (alterrain)

      Hi Paul,

      I’ve always been a massive worrier too and have been at a pretty low ebb for several years now, with mental health issues. Your posts and podcasts give me belief and encouragement as I try to change my life. Invaluable. Thank you,
      Simon

      • Thank you Simon – isn’t it wonderful that despite your problems, you are still fighting for a better life. It’s easy to just give up but I truly believe that those of use who keep pushing forwards are going to have plenty of days in the sun.

    3. Max

      “Read inspiring stories about successful people who have recovered from disaster.”

      Hi – Great blog. Do you have any actual references noted above?

      Thx

      • Hi Max – off the top of my head, Steve Jobs got fired from Apple (the company he created) in 1985, but he came back in an amazing way. I also seem to remember that Bill Gate’s first business venture was a complete failure, but he used what he learned from this experience to create Microsoft.

    4. Greg

      Life can be terrifying but it’s too easy to make it even worse from dysfunctional actions. Even if you fail at a task, the effects of wallowing, paniced actions, and giving up can make life even more difficult. We will all go one day anyway, make the best of it for yourself and others.

    Leave a Reply

    Your email address will not be published. Required fields are marked *