There are people who come out of financial crises easily. However, that does not guarantee that they will not fall back into a similar situation. You must make changes in values and habits while trying to structure good steps to forming good financial habits. After the difficult road to recovery or financial stabilization, a relapse can be destructive, not only for the individual but for their loved ones or family.
A financial relapse is not an event, but a process that can be prevented, detected and stopped. Normally this process of relapse is composed of increasingly frequent “little risky decisions” considered “relative risk” that the person begins to take. They are all linked to one another. Once you get back to making such decisions, you begin to undertake a “journey” that will lead you to a recurrence of your previous financial situation.
These small decisions that are underestimated by the person and those around him effects and leads him towards a situation where it will become the “Trigger”. You will reach a point where you will make it impossible to resist acting “recklessly” with your money, or where excessive or improper use of credit card or debit card will be inevitable, or spending beyond your income, or getting into debts which in the end will be impossible to pay.
Tips to avoid a financial relapse
In order to avoid plunging yourself back into a financial relapse, there are steps to forming good financial habits that you ought to take.
1. Accept the fact that it can happen again: He who claims to be firm heed lest he fall! It is important to recognize the risk to which we are vulnerable. If you were already there, there should be no reason to go back. Overconfidence can become your enemy. You must be happy to have passed but you shouldn’t flaunt it will not happen again. It is better to be humble.
2. Exercise self-control and do not give in to certain permissions: Watch out for feelings or habits that want to resurface. Take preventive measures on paydays. Plan good use of your money, be careful where party festive activities tend to be and never be “blinded by moments” so you will not lose what you have worked so hard to earn. You should always know how to say “no” to those expenses that do not suit you, even if they seem lawful or good. Always say yes to saving and financial discipline.
3. Strengthen your values and have dreams: Build your values. A person who strengthens his struggle and desires to succeed will get himself on the path of financial recovery. Share your financial dreams with your family and set icons that remind you of where you came from and how high you have been lifted financially.
4. Seek help and formal monitoring: Join groups at your workplace, community or church or groups that can offer spiritual and emotional support and contribute to strengthening in the financial area and in other areas of your life. This is going to strengthen the muscle of your decisions and will help you to have peace and security.