Coping With Unexpected Financial Crisis
So do not fear, for I am with you; do not be dismayed, for I am your God.
I will strengthen you and help you; I will uphold you with my righteous right hand.
Isaiah 41:10
A financial crisis presents significant change and challenge to be dealt with, but can also be a valuable learning experience; a stop on the road to more stable financial times and a healthier long-term attitude toward money.
And even serious financial problems, like foreclosures and bankruptcies, can be overcome. That’s why it’s not only important to make a plan to get through theses tough times, but it’s important to have a positive attitude toward the future.
– Elizabeth Scott
Not that I speak from want, for I have learned to be content in whatever circumstances I am in. I know how to get along with humble means and I also know how to live in prosperity.
I have learned the secret of being filled and going hungry, both of having abundance and suffering need.
I can do all things through Christ who strengthens me.
– Philippians 4:11-13
Evaluate Your Situation
Therefore do not be anxious, saying ‘What shall we eat?’ or ‘What shall we drink?’ or ‘What shall we wear?’ For the Gentiles seek after all these things, and your heavenly Father knows that you need them all.
But seek first the kingdom of God and his righteousness, and all these things will be added to you.
– Matthew 6:31-33
Seek the truth or hide your head in the sand. They both require digging.
– Andrew Nolan
The following video, What To Do When You’re Broke, is about twenty minutes long, but well worth watching when you have the time if you want advice on digging out of debt .
Set Your Priorities
But seek first the kingdom of God, and his righteousness, and all these things shall be added unto you.
– Matthew 6:33
“Real wealth does not necessarily mean financial wealth. Once someone truly realizes who they are, that their net worth and value has nothing what so ever to do with their financial situation, for many people that is very, very freeing.”
Identify Your Options
Ask, and it will be given to you; seek, and you will find; knock and it will be opened to you.
– Matthew 7:7
“Sometimes you have got to look at things really positively – without putting your head in the sand, you have got to manage the negatives and keep putting a positive slant on it, keep trying to find the answers.”
– Brian McDermott
Plan Your Recovery
The wicked borrow and do not repay, but the righteous give generously.
– Proverbs 22:7
You can walk all the way around the world if you do it one step at a time. Step-by-step-by-step-by step. And cleaning up and winning with money is the same way.
– Dave Ramsey
Those who want for the lord shall renew their strength; they shall mount up with wings like eagles.
– Isaiah 40:31
5 Ways You Can Be An Overcomer
- Recognize season of life you are in
- Refuse to allow Satan to win the battle inside your head
- Release your fears to Jesus
- Renew through rest & refilling
- Reach the goal one step at a time
– Rachel Wojo
My grace is all you need.My power works best in weakness.
– 2 Corinthians 12:9
“If you press grapes, wine will pour out, if you crush roses, perfume will pour out;
if you afflict the talented, genius will pour out.”
– Matshonona Dhliwayo
COVID-19 Crisis
I can do all things through Christ who strengthens me.
– Philippians 4:13
COVID-19 is causing stress and anxiety as schools, businesses, states and even countries have shut down. In an effort to stop the spread and protect the vulnerable populations, there have been immediate impacts to the economy.
While the long-term impact is still unknown, the NFCC has put together these resources to help you manage your finances, as we all navigate these uncertain times together.
Resources on the following topics (as they relate to COVID-19) are available through:
National Foundation of Credit Counselors COVID-19 Toolkit
- Free credit report checks
- Credit card assistance
- Retirement funds advice
- Unemployment assistance
- Financial preparation
- Wise use of stimulus money
- Emergency budget creation
- Emergency savings building
- Stock up wisely
– NFCC