All of us have experienced problems with our finances at various times. We may temporarily become impoverished, or we could face long-term difficulties that require significant dedication to overcome. But we can surmount any financial obstacles or hurdles we encounter.

I wish more schools taught students how to effectively handle hardship. Resilience, or the ability to easily bounce back from or adapt to adversity or change, is one of the most important attributes for living a long and healthy life. We must know how to manage adversity, in our finances and other facets of our lives.

Although strength is not as easy to visualize as algebra or grammar, it is an important skill that you can hone every day. So, don’t get down on yourself if you are encountering hard times because we all have economic problems.

When do we get into the difficult situations? Let’s take a look at what kinds of difficulties you could run into.

What are some of the most common financial challenges?

Let’s first look at the most common financial problems facing people today.

Medical bills

You may have experienced a medical emergency, or you may still have significant medical bills. Medical expenses can be serious. An emergency room visit can cost tens of thousands of dollars or more.

It is difficult to come up with adequate medical coverage for chronic conditions due to the high cost and prolonged length of hospital stays.

Student loan debt

Unless you have been hiding under a boulder for the last 10 years, you know that student debt in the U.S. has exploded. The student loan average was recently listed as $37,693 per borrower. These payments can be quite a burden if you have a high amount in loans.

Credit card debt

If you have used credit cards (to finance day-to-day expenses), you may have created a greater problem than the original one. Credit cards have high rates of interest.

If you are not paying them in full every month, you may have accrued debt that seems overwhelming.

Living paycheck to paycheck

It’s a terrible way to live, not knowing if you’ll pay all of your bills next month.

Why finding strength matters

There are other challenges that could make it difficult to manage your finances on a daily basis. Whatever your financial situation may be, you must face these challenges head-on rather than running away.

Money isn’t going to disappear, and our personal difficulties with finance won’t vanish unless we take further action. Perhaps you are as like my eight-year-old, who desires to eliminate money and just give everybody free money. Unfortunately, that is not a realistic expectation.

That’s why discovering inner strength to overcome any financial difficulties you encounter is essential to success and happiness.

How to start finding strength and overcome your financial challenges

Let’s look at some methods you can use to find energy every day to increase your life and financial situation.

1. Find your purpose

One of the keys to never letting finances get in the way of success is to have a clear goal in life.

A part of discovering inner strength is identifying what your purpose in life is. Take a step back and really consider whether you are aligning your finances and lifestyle with who you are and what you want.

2. Determine your financial goals

Setting goals are a key part of achieving power. By making objectives, you can refer to them in times of weakness. For instance, if you are have difficulty saving money, displaying a picture of your goals can help you remember what is important to you.

Create a vision board displaying your long-term goals and hang it where you can see it for inspiration.

3. Identify your financial challenges

The first step in figuring out your goals is to recognize your biggest budgetary shortcomings. This can be difficult, as this is often humbling to recognize that we may have made a mistake.

If someone else hurt you financially, it can hurt to keep in mind that time.

We can’t correct a problem without first knowing about it. Likewise, you shouldn’t have to pretend you have financial concerns that you cannot possibly afford. Financial honesty is essential. Be specific about what changes need to be made.

Do you need to cut down on unnecessary expenses? Maybe you and your significant other should discuss a plan to save for a home down payment. Alternatively, budgeting is extremely important. With your financial problems in mind, think about what changes you have to implement to generate it better.

4. Make a plan to improve your financial situation

Once you know your cash flow problems, determine how you can begin making things better. Whatever the challenge is, you are likely not to fix anything without first making a plan.

Start small if you want to make your financial situation better. Some people are able to make big changes at one time.

But for most of us, it requires taking small steps. As a behavior scientist, B.J. Most people succeed with habit changes when they set smaller goals for themselves.

For example, if you are struggling with a $20,000 debt, you shouldn’t try to pay off the entire balance in one week (unless you do have sufficient cash to do so).

Instead, look at your funds and determine how long it’ll take you to pay it off if you put $100 into it each month, or some other amount. Utilize a debt payoff plan to help you get rid of your outstanding debt as quickly as possible.

5. Find out how you can change your habits

While a number of financial setbacks are the result of external circumstances, there may be a chance that your cash habits also contributed to those setbacks. In addition to the “tiny habits” strategy, there are many excellent methods for changing one’s habits.

Find your strength by replacing bad spending habits with good ones and watch your finances grow!

Strength To Work Through Financial Challenges
Strength To Work Through Financial Challenges

6. Find your strength by managing your mind

Managing your mindset is an important way to manage your toughness when dealing with difficulties. Pay attention to the way you feel and pay attention to your psychological health so that you can handle trials with more composure. When making important decisions, avoid harboring excessive negativity.

This means ignoring issues, but not letting every negative idea you have dictate your actions.

To identify your weakness, you have to look past your errors. But don’t be so obsessed with the mistakes you made that you aren’t able to move on. The best way to improve our mistakes is to learn from them.

For example, we were foolish and bought a timeshare several years ago, although we knew it was a mistake. We eventually got out of the contract (losing a sizable portion of our money).

But we just had to accept our mistake and move on. We now know better and can make better decisions!

Your financial problems may be bad, but almost surely, you can improve them. If you think your problems are the worst in the world, it’s almost certain that you’ll make improvements.

Unfortunately, you could have another individual for your financial concerns. Perhaps a former spouse incurred debt that you are now obligated to pay. A criminal stole your identity and ruined your credit score.

The key to overcoming your ailments is to avoid dwelling on them. The reality is that blaming others for your problems does not help (even if you’re entirely in the right). So just understand the situation, take a deep breath, then move on.

7. Finding strength by quieting your thoughts

While life can be exceedingly demanding, it can be challenging to quiet your mind. None of us can continuously eat, sleep, and breathe money. We also must tend to households, health, careers, and the day-to-day chores of cooking.

A powerful way for developing inner strength is the ability to quiet your mind. I cannot imagine my life without having the ability to calm down when my brain is in a chaotic state. I make the incorrect decisions I need to avoid making when I am too agitated to make intelligent ones.

Not all of these ideas will work for you, but brainstorm ways you could find inner peace. Finding your inner strength will help you conquer your financial tribulations.

Meditation is more accessible than you might think. Meditation is among the fastest methods for finding inner peace and quiet. It is about awareness, being conscious of the present moment.

Perhaps you will not completely “shut off” your mind, but by paying attention to your thoughts and your breath, you can reduce your stress levels and find solutions.

If you feel uncomfortable meditating, you can gain similar benefits from walking in nature. Strolling through trees and greenery, breathing in fresh air, and getting rid of your responsibilities are all refreshing ways to spend some time outdoors.

I feel much better after my hike along the side of a local hiking trail. Focusing on my footsteps and the scenery around me helps clear my mind of my ailments.

We know exactly how much our mobile phones and emails can disturb our minds. Ask yourself what your first thought is when you feel bored, such as standing in the DMV line or watching your child repeat a cartwheel for the hundredth time.

I’m sure being online all the time does not help my stress level. It is very difficult for me to think clearly when we’re bombarded with so many different things vying for our attention.

A great way to distract yourself from technology is to disconnect yourself from your phone and electronics on non-work days. Unplugging from your phone and social media apps will help you unwind.

8. Finding strength through community and connection

Few things affect us more than humanity. The coronavirus pandemic demonstrated this to us in a sharp way, as it caused us to abandon our usual socialization venues and group activities.

Connecting with other people is important to your financial journey as much as any others, such as parenting or fitness or spiritual growth. Cultivating relationships is an important part of living a richer life.

Look for people with talents similar to yours. Think about bloggers, podcasters, authors, or anyone else in the financial sector. Find local communities or online groups where you can meet others and exchange ideas.

Maybe you can join a regional group where members can discuss financial goals (or start your own group)!

Find a group with which to hang out. Whether this involves someone you met in one of the communities mentioned in previous sections or a friend you’ve known since kindergarten, locate your tribe.

It’s important to foster relationships with people who support your financial goals. It’s tough to complete a financial goal if you only associate with friends who pressure you to spend more money than you can afford.

Be sure to have someone in your corner you can call when you’re discouraged and want to break your stated spending budget. Have a friend you can ask for help when you’re tempted or frustrated by overspending. You’ll find it easier to live a disciplined fiscal life if you have a companion.

9. Take care of your physical health

How we feel in our bodies really influences our decisions on a daily basis. So a good way to work through financial problems is to return to the basics. Taking good care of yourself can lead to better decisions in every area of your life.

Pay attention to your physical needs by paying attention to your diet, sleep, and physical activity. Each of these can increase your energy and your willingness to deal with difficulties as they arise. Physical well-being can help you discover inner strength as well.

Do you want to become a bodybuilder to save money? Regular physical activity has numerous benefits. Kelly McGonigal, Ph.D., recommends that any level of exercise can help. As you build physical strength, you can also increase your emotional fortitude to triumph over obstacles.

McGonigal says people feel less affected by stressful events on days when they exercise. “You feel more resilient because you’re more likely to cope with challenges thanks to how physical activity makes you feel.” Whether you want to do high-intensity workouts, jogging, yoga, walking, or something else, there’s a workout that’s right for you.

We save a decent number of hours each day to be productive and feel good. Sleep deprivation can interfere with our cognitive skills, and we need to maintain our rational minds to manage our finances.

Remember to get enough sleep each night, and don’t be embarrassed about doing so.

To finish your body’s fundamental requirements for success and happiness, it is important to eat healthfully. It can be difficult to prioritize these necessities if you’re in dire financial straits, but do what you can to consume a healthy diet. You won’t ever regret taking care of yourself.

10. Believe in yourself

If you believe in yourself, you can make good things happen. This goes back to the concept of managing your mindset.

Remaining strong during times of financial struggle depends on your capacity to believe in yourself. Even if you have made some mistakes in the past, it’s never too late to change your life for the better.

Think that you can a better financial future and believe that you have the skills and determination to make that your reality.

Finding strength will help you overcome your financial challenges

No one is more concerned than you are with your finances, and it is important to give your financial situation the respect it deserves. By envisioning where you want to be in the future, you can reduce your negative thoughts and focus your energy on a better quality of life.

Working to overcome personal obstacles will bring you personal fulfillment as well as satisfaction in all facets of life. Our free online financial courses can help you take back control of your money.


Please enter your comment!
Please enter your name here