Losing everything seems like something that only happens to characters in movies, or someone else. It’s never meant to happen to you, so when it does, it’s not just the financial blow that can leave you floored. It’s often a huge emotional blow as well.
Denver Daniels is familiar with this feeling. As a teenager, his family lost everything, and he went from being one of the most privileged kids in his area, to one of the poorest.
If you met Denver today, you’d never guess that he lived through such a troubling experience. His level head and financially savvy nature belies the family’s past, but it’s exactly because of his family’s perseverance and working together that Denver grew into the secure person he is now.
Denver and his family are thriving these days, and the hard lessons he learned give him a unique perspective on how to deal with financial crises. So, if you find yourself in a dire situation, take a look at his advice on what to do when you lose everything:
Speak to a debt counsellor or financial adviser. They have the knowledge and experience to be familiar with your situation, and will know what to do to help you recover.
Don’t be afraid to be vulnerable and accept help in whatever form it takes. You are not alone in this situation, and people will want to help you however they can.
Be brutally honest with yourself. Figure out exactly how you ended up in this situation, and make a promise to yourself to do everything you can to prevent this. If it was a bad business decision, do better research next time. If you were a victim of theft, make sure you start saving for an emergency fund as soon as you can.
Strip down your spending and track every last cent. Limit your expenses to crucial bills only, and put any extra income you have into savings accounts. Make a budget and stick to it!
Work hard. Accept any additional work, try creating an additional income, sell things you don’t need, do small tasks for people. At this point, anything you can do to create more cash is important.
Remember that this will pass. Keep your spirits up, and don’t be too hard on yourself, this is something that happens to thousands of people all over the world. Through perseverance and planning, you will live through your crisis, and come out stronger.
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Bouncing back when you do fail often involves acknowledging and accepting your situation, reflecting on the lessons learned, and setting realistic goals for the future.
Bouncing back when you do fail often involves acknowledging and accepting your situation, reflecting on the lessons learned, and setting realistic goals for the future.
Whether it's your home, your job, your possessions, or your loved ones, losing everything can leave you feeling lost, alone, and scared. It scrambles one's brains perhaps causing one to live in a state of continuous anxiety for a time.
“Most of the time, losing things results from what I call absent-mindedness. That's a breakdown at the interface of attention and memory, where we're focused on something other than the object we're going to lose — be it the TV remote or a phone or glasses,” he said.
To make the most of your new life, start by creating a list of goals and keeping a positive mindset. Learn more about saving and your spending habits. Get a job to bring in additional income and reach out to your friends and family for assistance, if needed.
God, You hold us even when all is lost. Your Word is hope to us even in the moments when we hurt the most. Your Word soothes and speaks Truth to our souls. In our grief, may we always grasp for You — in word, in deed, in heart, in hope.
A very good way to get back on track when you're losing hope is to connect with like-minded people who have experienced similar situations but with better results. Your hopelessness can arise from your inefficiencies and inabilities to accomplish your goals or achieve something that you have wanted to achieve.
Rebuilding your life after losing everything can seem like a daunting task. Whether you've lost your job, are going through a divorce, or have huge medical bills, a financial downturn doesn't have to impact your well-being. You can recover from a financial loss, but it may take some time.
Introduction: My name is Dean Jakubowski Ret, I am a enthusiastic, friendly, homely, handsome, zealous, brainy, elegant person who loves writing and wants to share my knowledge and understanding with you.
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