Today, rather than write a typical article on money strategies, like, “Why Having an Emergency Fund is Important”, or “How to Save Money Every Day”, or “Don’t Buy a Car You Can’t Afford”, I’m going to explain why having money problems is not only normal, but it is good for you! Nobody likes to hear a lecture about what they are doing wrong! So, if you are dealing with money problems, you are actually helping yourself!
I saw this article, “How a Personal Financial Failure Can be a Good Thing”, that reported findings from a study from the Scandinavian Journal of Psychology, that said that people who had financial struggles were psychologically better adjusted than those who didn’t. While it is true that when people have money trouble, they often are in despair, and can have problems adjusting, once they get through the “storm”, they can actually think and process things faster. The advice is to do the best you can to plan for what you can, and do the best you can when things get bad, like medical emergencies, job loss or a downturn in the economy. So, don’t get down on yourself when things get tricky, it can happen to anyone! The key is to take action to deal with your problems!
So, why would money problems actually help you? There are a few reasons why this conclusion, at first surprising, makes sense. First, the brain is like a muscle, and, if you exercise your brain, you’ll be stronger. So, if you have money issues to deal with, you’ll think about how to solve the problems better! Those rich people just don’t have the strength to deal with the nitty-gritty, day to day problems! It’s like lifting weights, the more you do it, the stronger you get!
Also, if you face certain problems, you’ll have a better idea of how to handle the problems if they come up in the future. So, if you have problems paying your mortgage, you’ll call your lender to find out what kind of help they offer, or what kind of programs are available. Now you know the resources that you can use. You might do some personal finance research to find out good deals on low-interest loans. You might meet with a financial advisor or lawyer to figure out what your best options are. And, you might find ways to save money on everyday things, or find out which cable tv or streaming services are best for you, and which you might want to cut out. You and your family might figure out ways to have fun without spending as much money.
My point is that dealing with finances is a normal part of life. If you work to fix your problems, you are helping yourself to be a stronger person in the long run. If you have problems paying your bills, ask for help, call us. If you have money questions, dealing with a foreclosure or lawsuit, call us. We can help, and give you the tools to deal with your financial problems. We help people fix their situation, with financial counseling. Debt Settlement, Foreclosure Defense, Student Loan Help, Bankruptcy, and many other tools are available. So, pump that iron, fix your money problems, and you’ll be stronger in the long run!
Daniel J. Winter
Offices in Chicago, Gurnee, Oak Lawn, and Skokie, Illinois.