On your feet soldier: Recovery after financial disaster

Wednesday, June 3, 2015, 6:00 AM | Leave Comment

Are you among a lot of people suffering from a serious financial setback? If you yourself or some unfortunate situation has led you to a crisis, don’t think of it as the end of the world, rather as an opportunity to learn how to prevent that from ever happening again.

At the end, we actually do fall, just to learn how to pick ourselves up. No matter if you’ve arrived to this point because of the recent financial crisis, real-estate decline, or some more traditional cause such as divorce or overspending, there is still time to save the day.

Your mission will not be easy and that’s why we are here to help you.

Read on to find out how your recovery path should look like.

    On your feet soldier Recovery after financial disaster 1

  • Face your situation

    There is no turning your head away from this one, it will not get you anywhere. It is important that you accept the situation in which you are in, so that you could move on and solve it.

    No point to cry over your sad faith, it is an unfortunate series of events indeed, but you are where you are and to finally move from that point, you should know where you stand and where do you want to go.

    What are you waiting for? It’s time to take all of that negative energy and convert it into your tool of salvation.

  • Know your options

    Once you’ve accepted your current situation, it’s time to really be aware of what you have and what you should do.

    Take inventory of your recourses and liabilities, you will need all the information before developing a realistic recovery plan.

    Take a piece of paper and write down your remaining assets, how much do you owe, how much do you spend, what is your credit score, how much income do you expect every month, etc. After this inventory, it’s time to move on to the next step.

  • Determine where you want to go

    This is one of the most important steps. When you set an achievable, clear and direct goal, all of your actions will lead towards its accomplishment.

    For instance, if your goal is complete debt recovery, you should define clearly how much time do you give yourself for that and how much money on monthly bases are you willing to give for that purpose.

    Remember that your goal must be fully attainable but challenging, not an unrealistic dream. Set a deadline and try to stick with it.

    On your feet soldier Recovery after financial disaster 2

  • Develop a plan

    Now that you know your problem and you’ve determined your goal, it’s time to move from point A to point B. For that little journey, you’ll need a plan.

    It should be a balanced portion of offensive and defensive strategy.

    For example, if you are determined to pay down your debt, at the same time you should add a little of the sum to retirement savings or something similar.

  • Ready, set, go!

    Time for converting all of that planning, thinking and determining into action. It sounds quite obvious that without it, there is no reaching your goals, but we have to point it out.

    Don’t be afraid of doing something wrong, from this point you can only go up, especially if you follow these steps and adjust them to your specific situation. The best you can do is to start immediately.

Author BIO

Dan Radak is a web hosting security professional with ten years of experience. He is a coauthor on several websites and regular contributor to BizzMark Blog. He’s also interested in business promotion. Currently, he works with a number of companies in the field of online security, closely collaborating with a couple of e-commerce companies.

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