Financial Struggles
Fighting family financial struggles and injuries is often a source of tension in a household, often leading to communication breakdown, leading to hostile atmosphere and even leading to domestic violence in extreme cases. Here are some tips for handling this situation effectively: 1. Reframing the Problem.Financial Struggles
Financial Struggles | 1. Talk to a Financial Advisor
If you’re experiencing financial trauma, it can be helpful to speak up. From dealing with divorce proceedings or inheritance taxes to unexpected debts and more, having someone by your side to assist in sorting things out can be invaluable.Financial Struggles
Financial advisors understand that discussing money can often become emotionally charged. Studies have revealed that a significant number of advisors experience some form of post-traumatic stress disorder due to working with upset clients.Financial Struggles
Example 2: Mary has recently experienced the death of her spouse and is not ready to proceed with financial planning discussions yet. Luckily, her advisor recognizes her need for time and offers therapeutic comfort by having tissues available as well as her favorite warm beverage waiting when she arrives.Financial Struggles
Financial advisor Mary recognizes that Mary may require additional support beyond what she can provide and refers her for mental health counseling at Mary’s next appointment. This referral is critical as traumatic experiences may cause people to withdraw and act against their best interests.Financial Struggles
Financial Struggles | 2. Reframing the Problem
Reframing is an effective approach that encourages us to examine situations from different perspectives in search of unique and improved solutions. Reframing can help break through roadblocks, disagreements and stalemates at both work and home – just remember every perspective is valuable and represents only part of the full truth!
Consider some of the most widely utilized practices and tools for problem reframing: establish legitimacy, include outsiders in discussions, collect people’s definitions in writing, take multiple categories into consideration, analyse positive exceptions and questioning goals and objectives as ways forward.
Reframing can help address financial challenges such as an employee who struggles to communicate effectively with customers over the phone when taking reservations. Samantha, her manager, addresses this by changing her job from “reservations taking” to customer service in order to reduce stress levels for her employee and offer them an opportunity to hone communication skills.
Financial Struggles | 3. Resolve Conflicts
Money or power issues typically drive most family conflicts, and often family members feel as if they need to “win” an argument in order to justify themselves and demonstrate they are correct. Such arguments can create lasting damage within relationships resulting in resentment, anger and frustration between relatives.
To avoid this situation, try keeping conversations peaceful and respectful. Use “I” statements instead of accusatory language, and focus on the issue rather than assigning blame. Setting personal boundaries may also help defuse conflict; if someone in your circle becomes aggressive or you feel unsafe during conversational exchanges, take time away until things can be dealt with more calmly.
Resolving family conflict requires patience and empathy. Everyone holds different views or beliefs, so be open-minded as you listen and compromise – perhaps even you might discover that your beliefs change as a result of interactions with others. If your family is still having issues, professional counseling services such as family therapy or online counseling services could provide invaluable help in finding resolution.
Financial Struggles | 5. Get Help
If a family member in your life is struggling with debt, employment search or emergency situations, professional counseling could be available to them. Research local credit-counseling agencies or resources which offer support with managing money, budgeting effectively, finding employment or housing and communicating with creditors as well as claiming benefits or financial assistance from agencies in your area.
If you decide to assist a loved one with money issues, determine their specific requirements and needs; such as whether or not they prefer an open discussion of their issues or would rather prefer more discreet assistance. If someone you care for is struggling with debt, suggest talking about their finances and offering solutions such as budgeting, comparing prices at grocery stores, seeking sales discounts, building an emergency fund and using credit cards prudently. You could also encourage them to use alternative coping mechanisms such as exercise, music, nature and healthy eating when feeling stressed – this can help take their minds off money issues and get back on track.
