'Buddy's Friday' One Step at a Time

Many people are facing huge new challenges these days and sometimes the fear that comes with these challenges can prevent us seeing our way forward. It is really scary to suddenly realise that the job you felt very secure in is no longer there. When that happens we can become overloaded with the implications it brings.

Family responsibilities – grocery bills - mortgage payments – car repayments – utility bills – medical expenses – loan repayments – education.

The first thing to realise is that you do have to face these problems. No one is going to come up on a white horse and solve them for you and if that sounds harsh I don't mean it to be. It is just the truth. I know.

And the only way to cope when it seems that there is an enormous mountain in front of you is to start by taking small steps.

Your first priority is to make sure that all members of the family are in the know. If they don't know what is going on we can't expect them to do their bit and face these challenges with us.
I have found that the helpful first step is to write two lists.

In one list write down all your expenses. And I mean all, even those ones that may not seem important. It is surprising that many of us don't know what we spend our money on. If you find you are like this start your list by just going through the days of the week. Ask yourself, 'what do we do on Mondays' etc.

One the next list write down everything you owe to creditors such as mortgages – car loans – student loans etc.

The next step is to prioritize both your expenses and creditors.

By just doing this you have started to take back control. What we don't know leaves us powerless and if you arm yourself with information you take up that power.

As I said in the beginning, involve the whole family.

One of your top priorities is to keep a roof over your head. If mortgage payments are going to be a problem, contact your loan company. Take the initiative and keep the power in your hands.

Do you need two cars or indeed one car? Only you as a family can answer that.

Work out how much you spend on a daily basis on such incidentals like coffee, lunches, daily paper etc. It is amazing how these build up.

Maybe some extra curricula activities will have to stop and children are more understanding when they know the facts.

If you know you are going to have major difficulties in meeting your financial obligations get some good advice fast. But be careful. I have noticed an upsurge in advertisements offering financial advice. Some are offering to take over paying your bills but beware, there is usually a commission added to the money you pay them. Ask at your local Citizen's Advice Bureau or other community help group. You don't want to be giving money you don't have to someone else.
And take heart. My Nana always told us, 'the sun will still come up in the morning', and she was right. You will get through this. It will not be easy. There will be times when you feel despair. And this is when your support system will be needed. Family and friends you can rely on to just listen, maybe offer practical advice and provide a soft place for you to dwell in for a while.
There are so many around the world at the moment who are facing job loss. But I do believe that your most powerful weapon in getting through this is your attitude. Take a while to look around you to see what is really important to you and aim your energies in that direction.

And when you looking for your support system don't forget those that you meet here in blogworld. The internet is one of our most powerful tools in the 21st Century and while it will never replace our personal group of friends and family we all (well I think we do) have a special bond with those we meet.

I am not a financial advisor, I'm just someone like you. I have had major challenges like we all have and I have found by seeing obstacles not as problems but as a challenge it has helped me get through them.

What have you found helpful? Share your idea either by leaving a comment or linking your post via Mr Linky at the bottom of this post.