You, or a loved on, may suddenly find yourself in a terrible situation financially, because of a death, or a divorce, or a job loss.
In order to keep that terrible situation from turning into a complete catastrophe, the best thing you can do is turn to your friends and family for help.
The most critical task is to keep yourself from sinking into a pit of stress and despair. You must look to your own mental health and stability first, before you even can address your family. If you are not strong and capable, taking care of yourself first, then you will likely not be capable of taking care of your family, either.
You need to surround yourself with supportive people, whether they are friends or family. They need to be people who will encourage you and lift you up, not those who will sit around and lament and say things like, “What are you going to do??”
If someone is not helpful at this point, and in fact may even be detrimental to your state of mind, then you need to remove them from your life, at least temporarily. Your single-minded focus needs to be on moving forward and getting out of the particular situation you are in. You cannot worry about extraneous things, like whether or not So-and-so’s feelings will be hurt if you don’t call them five times a day with an update on your job search.
You *will* need to confide in people and talk to them about your problems. If there is no one, no friend or family that you can turn to for sympathy and good, solid advice, then perhaps try a clergy member or even a professional therapist. Even if you can only talk to someone once or twice, it can help relieve your mind and release some of the stress and fears that you have been holding inside.
Once your mental state is stabilized, then you need to turn to the task of moving forward and working your way out of your current bad situation. If you’ve lost your job, don’t hesitate to talk to everyone that you know about your search. You never know where a great job lead will come from. The more people you can reach with your message, the more people will be keeping an eye out for you, and your chances of finding a new job quickly are much improved.
Another option would be if you know someone who has a business that can actually offer you a job. It may not be in the same industry as you worked before you were laid off, or it may be for far less than you were previously making, but if you are seriously in need of employment immediately, it can definitely help out while you look for a more permanent position.
If you require a lot of money in a short period of time, and you have a family member who is fairly well-off and can afford it, the IRS allows people to give cash gifts to other people, up to a maximum of $13,000 per person per year. A couple (such as your parents) could give an individual up to $26,000, or up to $52,000 to another couple (you and your spouse) without any tax implications.
The cash could also be structured as a loan, at low interest rates and flexible repayment terms, if necessary.
If you don’t have wealthy relatives, perhaps you have someone who has good credit, who can cosign a loan for you. Remember that this obligates your co-signer to pay the loan in case you do not, so be sure to take your fiduciary relationship seriously.
If you don’t have anyone who can help you out in a big way, maybe there are several people who can help in small ways. If you can line up a couple of people who can help out with certain expenses, you can possibly get your situation under control. For example, maybe one person will help with your rent or mortgage, and one will help with groceries, and one will help with the electric bill. Spreading out the costs in this way means no one is unduly burdened, yet they all are working together to help you out.
In the end, friends and family are what’s important, and they’re the ones that will help you get through a tough situation. Keep in mind that the bad times won’t last forever, and that with love and support, you and yours will make it through just fine.
About the Author:
Simon hails from Europe as a Blog owner and regular contributor for various financial Blogs, among others the financial Blog of the UK based instant text loans provider Poundaccess. He also likes to write in various other topics and fields and prides himself in being a versatile professional writer.