If you failed, take the opportunity to learn from it.
If you say money can’t buy happiness then you’ve never been truly poor. Though happiness entirely doesn’t depend on how financially rich you are, money sure has its place when it comes to being happy. And you would bear with me that no one is happy being broke.
Being broke can be really depressing and when not handled carefully might lead to poverty. Very few people keep their sanity in check when broke while only those who are optimistic can break the curse of poverty.
So how do you overcome the effects of being broke?
1. Recognize the lessons in front of you.
If you failed, take the opportunity to learn from it. If you just went broke, you might feel depressed and just want to curl up on the couch, giving in to your emotions. While doing that can be healthy, make it last for just a couple of days then wake up and get moving.
Meditate on what really happened with a clear mind. Approach it logically, as if it is a game you are coaching or scoring. If you’re frustrated with specific people, try to consider the situation from an outsider’s perspective. What happened? What were the mechanics? What can you learn about human psychology, capitalism or your own mannerisms to help you do better next time?
This exercise will not only help you emerge a better person, but it will also make you feel much less depressed and helpless. Almost all fear comes from the unknown. When you take time to think through, that fear can turn into light.
2. Make a plan.
Being broke tends to make us feel helpless, and in some cases, it can lead to carelessness and poor decision-making. So instead of getting desperate, make a plan.
Approach plan making as if you’re talking about a different person in an identical situation. What is the skill or resource that you need more of? If you could get it, would it make everything easier? Answer these questions and then start building.
This plan doesn’t have to be a fancy one; it’s for your eyes only. It could be as simple as:
Finding a part time job, polishing your résumé, contacting three successful family members, friends or acquaintances and ask them about opportunities etc.
Do these simple things and pretty soon you will feel more in control. And when you feel in control, you feel powerful. When you feel powerful, good things happen faster.
Read also: Best Success Habits in Business
3. Learn from established figures.
Read stories about successful people who experienced similar hardships. You can read about people who have built world class companies or people in your local community who have made it from the dust. Many entrepreneurs started from nothing, tinkering on passion projects in their garages, only able to afford food by working dead-end jobs. And a large number of executives started second careers or companies later in life after quitting their original plan. Following the stories of such people will help you understand that being broke is just a stage of life.
4. Learn as much as you can.
There is no downside to being more educated. Learn as much as you can, in whatever capacity possible. There are tons of books you can read in your desired field; there are also free online courses you can take; get in contact with people you admire and ask them about their journey. Acquire new skills and improve already existing skills.
Being broke is part of the game but staying broke is a choice
Together We Grow.