I want to tell you a story about having to be strong even when it feels like the world is ending and the walls are closing in; I want to tell you about staying true to yourself and your values when it becomes challenging to do so; I want to tell you about overcoming adversity, loss, and sickness.
I want to tell you about managing financial stress.
I want to tell you this story because I have lived through them; it’s my story. I want to teach you that personal and financial resilience is possible. In fact, I have written a book, which launched on January 2, “Live! Love! Reset! The Perfect Person to Get Cancer,” to tell you all about my most challenging days, offer financial advice, and hopefully provide you with some comfort.
Managing financial stress begins with a bit of personal TLC and soul-searching to mitigate stressors in other aspects of life; they all intertwine. The truth is, you never really know how strong you are until you have no other choice but to stand and fight. I built a great career for myself and started a beautiful, loving family. I was well on my way to living the life I had always envisioned for myself. But, here’s another truth. You never really know what life is going to throw at you, and things can change at any moment. For life’s unpredictable moments, you need a savings account that won’t be at risk even when the market drops.
Embrace your identities and understand that, sometimes, they’re subject to change with the curveballs that are thrown at us. I’m a single mother, an entrepreneur, a public speaker, a talk show host, a financial broker, an educator, a cancer survivor, and so much more.
I wasn’t always all these things. In short succession, I got into a car accident that put me out of work for months, had mystery medical ailments with extreme pain, was diagnosed with cancer, and my 30-year marriage came to an end. I was forced to accept that life as I knew it had changed forever, but this stress was for the better.
My adversities led me to be burdened by financial stress myself. Acceptance was the first step. Faith, love, and gratitude helped keep me grounded and find my footing. I kept my morals and values at the forefront. Even facing tremendous challenges, I looked at what I was facing head-on and realized that I already had everything that I needed to survive. That’s not to say it was easy. Raising two daughters on my own with my income affected by my illness, it was more important than ever to make sure my financial house was in order and that I was making the most of my strategic financial planning.
Budgeting is establishing priorities, so be sure to budget your monthly spending.
To get through the painful and draining treatments, I had to make sure my mindset was right so that I could fight as hard as possible, keep a smile on my face, and put dinner on the table for my family.
Defeating money-related stress goes beyond getting more cash in your wallet, especially when it comes to starting a business. Managing personal finances is a gradual process of setting goals and designing a plan specific to your needs, first and foremost. Once these needs are met, address the approach you want to take to achieve your desired business endeavors. This does take discipline. It’s not easy to stay the course, but knowing what your efforts will produce is enough to keep in motion. For example, a secure future can be set with the right retirement plan, life insurance, living will, etc. Nothing in life worth having is easy, much like the other glorious rewards in life. We have to be diligent in our efforts, and our actions have to reflect the established plan in order to accomplish these goals.
I recognize that financial stress can make an already difficult situation even worse, which is why I was sure to provide advice for dealing with debt, overspending, and difficulty budgeting.
Luckily, there are concrete steps you can take to achieve financial success, from optimizing your savings plans to making sure that you are enrolled in the right healthcare and insurance plans. When I received my diagnosis and experienced many major life changes, I used these tips that I will share with you in my book to keep my family and company afloat while managing my financial stress and anxiety.
Here’s the final truth. No matter what your journey looks like, there’s always a way to achieve your financial goals, feel secure in your budget and spending, be ready for both long and short term, and reduce financial stress in your everyday life.