• Financial Setbacks

    2 Minute Breakdown Vol 9

    What is a financial setback to you? Is it a mistake you made? Is it a circumstance you have no control over? Unfortunately, financial setbacks are a part of life, everyone goes through them.

    A financial setback can have a different definition to different people. To some it could be an unplanned medical expense. To others it could be missing a 401K contribution. It depends on perspective.

    Regardless of what a financial setback is to you, I want you to realize that it's temporary. Initially it hurts emotionally, I know I've been there before. I remember having to replace the sewage pipe at my home, get a new hot water heater, and car issue all in the span of 2 months. It was unexpected and a pretty penny, definitely a setback!

    To contend with these setbacks first, have an emergency fund which I explain in Dormant Not Dead. Second, understand that setbacks are a part of life so be prepared. Being prepared means saving money for a rainy day and not using that money unless there is an emergency. Then restoring the fund back before spending on extras.

    Third, you shouldn't serve money but money is a tool for you. It's easy to get wrapped in what we believe money can do causing some to do anything for it to the point it becomes our master. YES money is important NO it should not be worshipped!

    If you didn't understand anything from this post, know this: it's okay if you hit a financial setback, it's not okay to lack being prepared.

    Picture Credit: Instagram "My Story" tool & YouVersion Bible

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