SURVIVING FINANCIAL FEAR
This is a repost of an article that I wrote in 2020. So much has changed since then but this article is never more relevant. The perilous financial times we are in today are scary but never forget that your financial situation is never too dark and hopeless that God can’t turn it around.
Surviving financial fear
Tonight, as I was scrolling through articles online, I stumbled upon an article that left an impact on me. This article contained a suicide note from a young professional who chose to take her own life. The suicide note was a very heartfelt honest reflection of the pain and anguish that she experienced daily. This young woman chose to end her life after a constant struggle with her career which was not what she had imagined and the reality of her crushing debt. She struggled with faith in God, a career that seemed hopeless, and overwhelming crushing financial fears.
Reading her story broke my heart. Tears filled my eyes as I read her story and began to realize her life was not so different from my own. Her life in fact is so familiar because it’s reflected in the lives of many young adults across the United States today. College was sold to us as the ultimate answer to someday landing our dream career. Sadly most of us didn’t realize that joy and it has not been quite that easy. Many of us graduated with unbearable burdens of student loan and even credit card debt, and no job prospects at all.
Financial fear can overwhelm us
Her fear and her tragic struggle with debt were so real not only to her but to thousands of Americans today. The debt that once seemed barely manageable may now seem completely impossible. Now that the Pandemic has hit the reality of managing this debt has become even more of a challenge.
I survived my own financial fear
My twenties and thirties were spent accepting the realization of my own debt. This debt has become a huge burden often forcing me to work multiple jobs just to make ends meet. My generation was told that college degrees were the key to success. In some fields jobs are plentiful and the money is decent. Even in those jobs it is hard to begin to payback our massive student loan burden.
My own experience has been better than many because I have had a job this whole time. All throughout college I worked full-time for a company where I have remained employed for almost 18 years now. My current job however, is not in the career that I envisioned, nor is it for the money that I had hoped for either. Despite all of that I have a career with a company that I now have some longevity with and I recognize that this is still a blessing. Having a job that can help to support me and my family and move forward within a growing corporation is not the case for everyone.
Debt and depression in dealing with finances
There is such a massive impact that debt has on our lives. This can be seen in so many financial issues among Americans today. What we often see is the sad reality of the burden of debt within the lives of those around us. This seems to play out in various ways from many people going deeper into debt just trying to make ends meet, filing bankruptcy, having little to no retirement savings, alcoholism, drug addiction, gambling, and even suicide. These are not always the case but they seem to be choices made by many who feel hopeless and desperate in their financial situations.
What we need to realize about money is:
Determination and hard work can make a difference
Money is just a placeholder for time you have spent working, it does not define your worth
Your family, faith and life matter more than any amount of money
Time, not money, is the most precious thing you have spend it wisely
Just like fire, money is a useful yet potentially dangerous tool. If you let it get out of control you will get burned.
Financial disappointment comes to everyone, don't let it define you.
Money is not everything & the lack of money is not worth taking your own life
Another young life that should not have been lost
Recently I read another heartbreaking story of a young man who got involved with investing in his twenties. This young man felt overwhelmed by the choices that he had made and the financial implications of his investments and sadly took his own life. It’s so obvious that money has the ability to help us and the ability to harm us. Money itself is not a bad thing but when money begins to control our life it becomes a major problem.
Right now we are heading into a time where many investments will see drastic changes. I want to remind you that stock markets going up and down can be scary but your stocks should never control your life. If they do you can and will be disappointed at one time or another. Make certain that when investing you can always handle the bad news and that your mental health and identity are not tied to your investments. Your life is worth far more than the money you have made or can make in the stock market.
If you are dealing with Depression
If you are struggling with depression or having suicidal thoughts please take a look at the resources linked to in this post.
Why I wrote this today
I want to remind you that if you are struggling with these challenges in your life you are not alone. So many others are dealing with the same challenges and choices which may feel overwhelming at times. Remember that no matter what your financial situation is right now it does not define you. Your life is worth far more than the money you make, the degree you earned, the debt that weighs you down and the career you now have or do not have. Your life is precious and despite the many challenges of debt you can begin to pull yourself out of this debt.
If I can do it so can you
Hard work, determination, a personal budget and a commitment to make a difference in your financial life can go a long way. I know because I have successfully done just this in my own life. Currently I am left with only my student loan debt after paying off multiple medical bills, credit cards and multiple car loans. It has not been easy or quick but I am slowly and steadily becoming debt free and smarter with my financial choices.