How to Handle a Money Crisis

There are plenty of reasons as to why one might find themselves in a money crisis. Was it a job loss, or maybe we experienced an illness and find out that our bill is much higher than expected? The list could go on and on. We all know that life doesn’t always go as planned and things happen.

So what do we do? We roll with the punches. We become “nimblicious.” Nimbilicious is a word Divine WealthWise created that combines Nimble and Delicious – we are delighted with our flexibility. We go with the flow.

There is always a way to bounce back from a money crisis. Here are a few tips to help guide us: 

1. Shift to saving, rather than spending. Try to cut things out of the budget that we might not necessarily need. Everyone is guilty of treating themselves to something that they have been dying to get their hands on. Try to take out the “spur of the moment purchases” and the “instant gratification” mentality. Let’s save the extra for when our finances are back in shape. Now this may be tricky, so a helpful tip might be to make a list of needs vs. wants.

Can you choose any of these items to take out of your life for the time being?


If it isn’t any of these, what is it? It might be tough, but it’s definitely doable!

2. Ask your financial advisor for help. If you don’t have one, talk to a family member or a close friend. It’s important to talk with someone who is familiar with these kinds of situations. Chances are, the people who are closest to you have probably gone through this as well. Talking it through will help understand how you can rearrange your financial planning. And get rid of any shame or fear – most people have experienced financial challenges and are willing to share potential solutions.

3. Sharpen your skills on your current situation. Educate yourself on your particular situation. Try to understand where the gaps lay in your financial plan and learn from your mistakes.

4. For the future, ALWAYS have an emergency fund. It is important to have a fund to fall back on. Try to keep a comfortable amount of money in your savings account to use in case of an emergency. 3-6 months of expenses is a good rule of thumb to follow.

5. Don’t give up or lose faith. Often times many people think that if they face hardship that it will be impossible to come back from. Try to remember that the cycle always turns around. Just keep reminding yourself that it will get better. Keeping a positive mindset will help to get your finances back on track quickly! 

If there is anything else we can share with you, it is this:

Always know that you are not alone.

So many people experience a money crisis at one time or another. Even some of the most successful people have faced financial hardships. Know that as long as you create a positive mindset and work toward your financial stability, you will in-turn, kick that money crisis to the curb!