Money stress, job loss, living paycheck-to-paycheck, struggling with credit card debt, or defaulting on your student loans can seem like you’re in financial hell. How can you survive financial hell? You can turn financial shame, guilt, powerlessness, embarrassment, and helplessness into restoration, redemption, peace, safety, and freedom. But financial recovery, won’t happen how you think it will!
First, here’s hellish financial stats according to U.S. News:
- Two-thirds of Americans would struggle to pay for a $1,000 emergency expense
- Only 24% of 20-30 somethings have basic financial literacy
- 77 million Americans have debt in collections
- The number of people over 60 with student loan debt has quadrupled over the last decade
How to survive financial hell (one tip!)
Winston Churchill said, “If you’re going through hell, keep going.”
The key word is through. Go through hell. It doesn’t say go around hell, ignore the hell, or deny your current financial hell exists. The 90s version of this quote is basically from Coolio’s song, Gangsta’s Paradise. “I walk through the valley of the shadow of death.”
Why do you need to go through financial hell?
Going through financial hell is counterintuitive, especially in a world of highlight reels and Pinterest perfection. Everyone else seems to have it all together. Shouldn’t you put a smile on and pretend you’re ok in your financial life (when you’re really struggling)? No!
Here’s why masking your financial troubles won’t help!
Cathy Loerzel, Co-Founder of The Allender Center, a center for healing created the “U-Diagram.” This diagram parallels Easter and explains how true authentic healing occurs.
With the letter U, the top point represents the death of Jesus on the cross on Good Friday, the bottom dip is His decent through hell on Saturday, and the top of the U is the rise and resurrection of Jesus on Easter Sunday.
The idea behind the U-diagram is, we all want to jump from Friday (the death) to Sunday (the resurrection), but to heal completely you need to experience Saturday (going through hell). Otherwise, if you leap from Friday to Sunday, your healing will be superficial and short-lived.
I wish there’s a quick fix to devastating financial crisis’, but there isn’t a shortcut. If you want long-term financial peace and security, then you need to go through financial hell.
What does going through financial hell look like?
Instead of diving more into debt with emotional online spending, you need to go through financial hell. Undergo the painful hellish process of sorting through your money. Find out where you stand now (looking at your debt, income, expenses, etc.), define where you want to be, and make hard decisions and sacrifices to get where you want to go.
The financial sacrifices are life-changing!
- Meaghan paid off $3,135 in credit card debt in three months
- Claire saved her first $1,000 for retirement two months after class
- Jessica and Daniel paid off over $21,000 within a year of taking the class
- Loren and Bryce tripled their net worth in two years
- Kim paid off $45,404 in 28 months
- Samantha and Stan paid for a truck with cash
- Ashley saved $10,000 for a rainy day and paid off $15,000 in medical debt
- Jessica and Matthias paid off $61,000 in debt in 20 months
Financial burdens can be heavy. You don’t need to do it alone!
This Spring Learn how to:
- Invest and retire a millionaire
- Make yourself recession-proof
- Get out of debt
- Buy your dream home or car
Best Money Class Ever & Money Coaching
- 4-week live and virtual personal finance class
- Tuesday Nights Starting April 6th
- 7-9pm Central (live or watch recording whenever!)
- Coaching available for past students
- The Check-In is for one-month of coaching
- The Spartan is for three-months of coaching
Best Money Class Ever, my signature 4-week personal finance class and money coaching starts tomorrow, Tuesday April 6th! Class and coaching only open once a quarter. Get the details and enroll here! Returning students if you want a money coaching check-in session for this quarter, then enroll by tomorrow here.