ask kewho: "how do i bounce back from a money failure?"
TRANSCRIPT
H O W T OB O U N C E
B A C K F R O MA M O N E YF A I L U R E
The majority of adults living today are
not strangers to the burden of stress
regarding our personal finances.
Chances are you’ve encountered a
money failure (or two). At the very
least, you’ve witnessed family members
or friends struggle through their own
challenges.
What’s the best way to bounce back
from a money failure? While there’s no
magic wand that can erase your debts;
you can adopt a number of practices
that set you up for better financial
success in the future.
S T A R TS A V I N G
You hear it all the time. Save what you can each
month, no matter how small an amount. While
this messaging may seem repetitive, it’s the
absolute best way to keep yourself afloat during a
challenging crisis. When you reach a point in your
life when you’re able to relax about your finances,
don’t! This is a critical moment for you to buckle
down on saving even harder.
R E F L E C T
Take the time to reflect on your current situation.
How did you arrive at this point? Can you identify
a root to the financial trouble? You won’t be able
to spend or save differently if you don’t define
what went wrong. Failure is an important part of
life. It’s through failure that we’re able to reassess
our systems and make changes as needed.
R E -E V A L U A T E
After you’ve given yourself time to reflect, embark
on a new plan. This step is foundational to achieve
success, especially after a recent failure. To begin,
ask yourself the following questions:
Who can I reach out to for help?
Are my expectations realistic?
What should I do differently?
The worst thing you can do
after a money failure is to
give up on your dreams and
miss out on this potent
opportunity for growth. Take
the time to scale back your
assets, reflect on the failure,
and launch into your next
steps. Stability is right
around the corner.
F O L L O WK E W H O M I Nwww.kewhomin.net
@kewho_min
H O W T OB O U N C E
B A C K F R O MA M O N E YF A I L U R E