ARE YOU FINANCIALLY STRESSED?

Is there a solution to financial stress?

Financial stress is when you do not have enough to meet your financial needs. This can include your rent, mortgage, groceries, utilities, transportation, and school clothes, among other things. When an individual is unable to meet their daily essential needs, this can cause financial stress. And if it is not relieved or overcome altogether, it can lead to depression, anxiety, and health problems.

There are some people who are facing financial stress today. Some people are working full-time, but the cost of living and the inflated prices make it challenging. Some people have adapted to a life of working multiple jobs to make ends meet, while others depend on available resources for help.

Either way, many people are looking for ways to make money and to keep a roof over their heads.

Is there a solution to financial stress? Is this the way life is supposed to be? Yes, there is a solution, and no, this is not the way life is supposed to be. There are two ways to approach financial stress, and both have two different outcomes. I will share both with you, giving you the opportunity to choose what is best for you. I have personally tried both, and the outcomes were very different. One outcome led to a shaky foundation and instability, while the other led to a solid foundation, stability, and financial increase.

The first approach I will discuss is the typical approach that many people choose, and that is borrowing money. When you are in financial duress, your focus is on how to get out of this situation. You are not even thinking about whether you can borrow this money to cover what is due now, and whether you can pay it back next month and still pay my monthly bills?  In your mind, you are thinking yes, when I get my next paycheck or next source of income, I can repay it.

The problem is that when you borrow money, you are adding a debt on top of what you already have. Therefore, if a person does not have enough money to meet the need now, they may have to borrow money. If the stream of income is still the same, how will they have enough to repay it, plus what they currently owe monthly?

Let me give you some Words of wisdom: NEVER make decisions when you are in financial duress or stress. You are not able to see past the situation, nor think of the short or long-term impacts of the decision.

Instead, pray, ask God for wisdom and instructions according to James 1:5 and Jeremiah 33:3, eat, and take a nap. Your mind is racing, you need to be refreshed with a clear mind, not a stressed mind.

Now you may be able to borrow the money, but you also have to keep in mind that when you borrow, you are taking on a debt that has to be paid. Are you in a financial position to take on new debt and repay it, including your current financial obligations?

These are questions you should be asking yourself before you make a decision. You may have heard the saying “desperate times call for desperate measures”. If that is your mentality, you will be destined to get yourself into financial cycles that keep you in financial struggle and lack because you are not making decisions using sound judgment. Your decisions are based on when you are in a “desperate need,” which means an emotional decision.

Follow my next blog post as I share a personal story with you that will empower you to learn from my mistakes and to make the right decisions that will lead to profitable results.

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