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The Greatest Mistake Made When In Financial Crisis

The Greatest Mistake Made When In Financial Crisis

THE WORST MISTAKE THAT PEOPLE MAKE WHEN THEY ARE IN FINANCIAL CRISIS IS TO PROCRASTINATE.

There are a number of reasons people procrastinate when they are in a financial crisis.  Many may delay taking action because they believe things are going to change. This leads to a clash of ideas. On the one hand the person is keeping a positive attitude, but at the same time they may be delaying taking needed action.  This delayed action can have tremendous consequences in certain financial situations.  I have had two recent potential clients contact me after a foreclosure sale had already been conducted.  Once a foreclosure sale has been conducted and the property is sold, then it is too late to try to solve the issue through a bankruptcy filing.

People also delay taking action because to face a difficult situation increases stress and anxiety.  In fact, psychologists believe that procrastination is a coping mechanism used to avoid the anxiety of unpleasant tasks. However, procrastination can lead to guilt and increased stress when the crisis is not faced without delay.

Abraham Lincoln said “you cannot escape the responsibility of tomorrow by evading it today.”  Evading a financial crisis today generally means that you are delaying a solution and you may make the situation worse.

When people are facing a financial crisis, such as a foreclosure on their home, they most likely procrastinate more because of a fear of the unknown.  If you are facing a financial crisis then reach out to a professional and get some wisdom to solve your problems.  I can promise that if you make contact with me you will not be condemned, and I will do everything I can to put you at ease and we will work toward getting you on the right financial track going forward.  You can reach me at 800-867-1583.

As always, any opinions expressed on this website are just that, opinions. Your individual situation might be different than outlined above, so it is probably best that you give me a call to discuss your individual situation. I pride myself on giving you the answers to your questions that are based on your individual circumstances.

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