Why am I Always Struggling Financially? 6 Steps to Fix It
Financial problems and hardship are not uncommon to humans. You might ask, ‘why am i always struggling financially?’, once you’re a fully grown adult, you’re certainly bound to experience some. The only difference is that, you must aspire to experience as few of them as possible. Even so, let them be a learning experience so you could either avoid or minimize the next.
Financial struggles occur because of several factors. The chief among these include debt related and insufficient income factors. Yes, you can slip into financial problems if you lose your job, live above your means, or live without an emergency savings fund.
6 Steps to Overcoming Financial Hardship and Money Problems
These six basic steps on what to do when having financial problems are easy to follow. You’ll see a simplistic path to the problem. This in reality makes it seem solvable. It’s an overview to help you get your act together and take responsibility. In this way, you give yourself permission to overcome it, and also avoid a relapse.
1. Best Way is to Prevent It
The best way to solve a problem is to prevent it. This thought seems like common sense but I know – it’s not as easy as it sounds. If you’re asking, why am i always struggling financially in the manner in which you are; I’d say that not all of us can answer that question. As a matter of fact, humans experience problems of all forms as part of our evolution. Maybe in your case, a lesson well learnt from these events will push you into the financial freedom you’ve been yearning for.
As they say, necessity is the mother of invention. Problems are welcome because they lead us into a better place than we were previously. Financial hardship should be temporal and lead to further degree of empowerment for those who suffer from it. Learning from it helps us prevent its re-occurrence.
2. Identify the Problem and Define It
Financial problems and hardship can have several causes. They could primarily spring from lack of metal fortitude or discipline with regards to managing money. But not many people are willing to accept this fact. The real problem has to do with one’s mindset. The money issues are simply symptoms and effects.
why am i always struggling financially when I have a job or access to credit when I need it? A very common question indeed. You’re bound to go through a vicious cycle until you clarify the source. Most financial experts would tell you that money hardships are spending problems rather than income related.
To know what to do when having financial problems, go a step further and examine your most common thoughts about money. They’re the drivers behind spending above your means. The entire psychology behind this is beyond the scope of this article. But one or two books I’d recommend that did the magic for millions of people are:
Sage Book Drop:
- The Psychology of Money – by Morgan Housel
- Secrets of the Millionaire Mind – by T. Harv Eker
- Think and Grow Rich – by Napoleon Hill
3. Identity the Source and Plug It
Your personal financial woes have a source. The best way to deal with it is to identify this source and plug it once and for all. It will be a simple yet scientific and mechanical means that will work for you as it has worked for others in your shoes.
Financial empowerment begins with investing in you. Reading at least two of the books mentioned above will set things off in your mind. The mindset realm is the actual source. You don’t want to go through life chasing online gurus who tell you otherwise – because they have their own interest at heart. Begin to shift your mindset about money first. Any other move would bring you back to square one.
4. How to Avoid Financial Problems in the Future
It is very important to identify and even quantify the cause of the problem. This is how you obtain the strategy to stop it from re-occurring in the future. Still wondering, why am i always struggling financially with all this free information on the web?
As I said, a good number of them are misleading. So be cautious when checking things out solutions from online sources. When you start reading great books, you get a powerful lens to view each online content you come across in the best light. You’ll be able to easily tell is the information is genuine or not; because the books have given you a grounding – so to speak.
One of the best practical ways of avoiding financial problems is to have a financial plan. Your money plan need not be complex or elaborate. This plan simply needs a budgeting component and an emergency fund or contingency savings component.
5. Learning from Your Mistakes
Financial problems and money woes are sometimes known to be cyclical. But you need to be on guard not to repeat the same mistake twice. Your financial evolution should take you to new paths and new problems – so to speak.
So why am i always struggling financially constantly even after trying other solutions? Great question. Your mistakes with money aren’t exactly avoidable. Keep in mind that what is avoidable is repeating the exact same blunder over and over again. As in debt, you need to come out of it once and for all.
If you’re relapsing into debt it could mean that you learnt how to pay down debt with a nice repayment plan. But unfortunately, failed to unlearn the bad habits associated with spending. Perhaps you had one part of the equation right, but didn’t see the need to tackle the mindset issue.
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6. Becoming an Advocate to Help Others
As you overcome your financial problems you become hardened. You’ll certainly become a little better at managing money. This is a nice gift that nature rewards you with after going through that trial.
At the back of your mind, if you’re still asking, why am i always struggling financially; still after fixing my mindset? I’d say the process requires important rules to observe. One of the most important is to help others who could be going through same.
You don’t have to do this online. You could choose a few circles of peers at work or friends. It is in helping and teaching others we retain what we’d learnt. You then have to do these things consistently. Some people require a longer time to establish a money mindset than others.
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Be an advocate and show others the way and see what it does to your own financial empowerment overtime.
A Few Parting Words
As humans, we’re not immune to problems. Financial crisis are certainly no different. If you struggle financially, it simply means that you haven’t figured out the path of consistent stability just yet. With a willing and intentional mindset in place you’re on your way to total freedom.
For example, being in debts is a common money issue a lot of people struggle with. But it can be overcome with a few steps in financial discipline. But to avoid the next episode, you need to rewire your money mindset. Do this consistently for best results.
What kind of financial mess are you struggling with today? Please share a small part of your story in the comments bellow. Your contribution will help others see the light also. Thanks.
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