Skip to content Skip to footer

Four Tips to Recover from Financial Crisis

Recover from Financial Crisis – Going through a financial crisis can be very stressful and can hurt on many levels of life. Many people feel threatened when their financial security is in question, which creates internal stress. Some people tend to take a lot on which can exacerbate the problem if it gets out of control. But one of the most damaging aspects of financial stress is that it can put stress on a couple when spending habits don’t match up. That’s why it is vital for couples to be able to manage the conflict of financial stress when it arises. Particularly during stressful economic times, marriages can be strained when money troubles arise. Here’s how to find harmony with you, loved ones and money.

Take an Immediate Action

It may not be fun, but it’s important that you have a clear view of your money situation. You need to know what you have, what you owe, what you make, and where it goes. It is very important to sit down and go over everything. How much debt are you in? Get rid of stuff you don’t need such as your gym membership, cable, or Netflix. Try to limit unnecessary spending as much as possible, so instead of eating out cook a meal at home. Remember: these set backs are temporary. When faced with the sometimes-stark reality of money problems, it’s sometimes easy to slip into patterns of anger and blame. This can cause more stress in your life and can actually lead you away from solutions! Focus on accepting the situation you are in now, call it what it is and working on a clear plan to get to a better financial future.

Get Help If You Need It

Tell someone, tell your partner, family, friends and your team members (if you have a business) because the longer you wait the harder it gets to have the conversation. Ask for help not a hand out! Ask your family if they can help out with some of your bills and that you will pay them back once you are back on your feet. Ask people around you what you should do; see if any of your friends can give you job.

If your money situation is quickly deteriorating and you don’t know how to make a plan that can save your finances, it may be a good idea to talk to a financial advisor together. This can provide fresh ideas and an educated perspective, and give you a neutral third party to trust in. Money problems can take a toll on a relationship, and a counselor can help you examine your patterns and come up with a healthier way to relate to one another.


Face what is real and think about what you need to do. Think of things you can learn to make yourself more skillful, learn how other people make money. There is so much information out there that you can get for free in a library, bookstore or online. If you want to make more money make yourself more valuable. Don’t wait till you get a job. Go back to school, read self-help books, clear your head from distractions and focus on what needs to be done in order for you to make that change. How much time do you need to spend? Who is there to support you? How much money do you need to spend on this new change you are trying to accomplish? Time yourself, give yourself six months and say to yourself I will work on making myself more valuable in the next few months. Put one hour aside every day to work through this new project.

Save Money

When your budget is tight, one random expense has a huge impact because it’s harder to come up with the money. Don’t just save money, save. There’s a difference between saving money and saving money for your future. So, don’t just spend less, put the money you save into a savings account to plan for college expenses, retirement, or emergencies that can leave you financially better off.
It’s the easiest and most effective way to save, and it puts extra cash out of sight and out of mind. Every pay period, have your employer deduct a certain amount from your paycheck and transfer it to a retirement or savings account. Ask your HR representative for more details about how to set this up. Or every month, have your bank or credit union transfer a fixed amount from your checking account to a savings or investment account. Take full advantage of employer matches to your retirement plan. Often as an incentive, employers will match a certain amount of what you save in a retirement plan such as a 401(k). If you don’t take full advantage of this match, you’re leaving money on the table. It’s a good idea to save your windfalls and tax refunds. Every time you receive a windfall, such a work bonus, inheritance, contest winnings, or tax refund, put a portion into your savings account. When you make a savings plan. Those with a savings plan are twice as likely to save successfully.


  • Remain Connected–Even when you’re frustrated by your situation, you can still hold hands as you talk with your partner, take breaks to give your loves one a phone call, share a joke, and keep your connection alive in simple ways.
  • Be Aware–If you always seem to fight about money, and especially if you don’t entirely know why, it may be a good idea to examine your history and take a look at your ‘money issues’. Just being aware of whether you carry negative patterns from childhood, unrealistic expectations, or ‘hot buttons’ that keep getting pressed, can help you to deal with your triggers.
  • Take a Break If You Need To–If things get too stressful, take a break and do something you enjoy, or take some time alone away from distraction. Clear your head, and then come back after you have a set of ‘fresh eyes’ and an extra dose of patience.

Thank you for reading out our blog post Four Tips to Recover from Financial Crisis!

Leave a comment