What to do When Money Runs Out
What do you do when the money runs out? When you’re the person who has always been on top of your money, and then suddenly you’re in a financial crisis, how will you react?
We live in a society that often revolves around money. When we have money, everything is fine and we’re on top of the world. When we don’t, suddenly we’re freaking out and in survival mode because we don’t know how we’re going to pay for anything.
There are two ways we can react to not having money. The first is the obvious breakdown caused by the fact that bills don’t stop just because we ran out of money. The second is to take a positive route and find a way to make your financial situation better.
Are there places where can cut your budget? Are there ways you can produce more income? Ask yourself how you can make your life more abundant.
Panic does nothing to fix the current problem. It only opens a door that can lead your down into further anxiety or depression. Instead, we can make the decision to do something to help the problem. Be objective when looking at your spending. There’s a chance you’ve bought things that you don’t need and could do without in the future. If you don’t have a budget already, create one. Take the high road when it comes to dealing with financial crises, instead of allowing the crisis to define your life.
What do you when the money runs out? I’m talking about when you are a super achiever and you’re on top of all of your money and you have everything together and then all of a sudden you wake up and realize and you look at your bills and you’re like, “Crap, I don’t have enough money to pay my bills and I’ve always been on top of this.” Or maybe you’re coming up short here and there.
I want to share with you some really powerful ways to move past this and keep a very positive state of mind so that you don’t get pulled down deeper into the darkness. I can share this with you because this just happened to me recently. I just moved from Florida to Texas. I had been spending money like I had it like before. Until I got my bills and I looked and I just said,
“I don’t have enough.
I’m going to find a way but I don’t have enough.”
It was in that very moment that I made a decision on how I was going to react in that moment. I would encourage you to do the same because it can be very challenging looking at the numbers and seeing that they don’t add up. I get it, I know. It’s scary. About a year to two years ago, if this were to happen, I would have been in tears and it would have ruined my day.
I remember vividly about six years ago when I was married that I had accidentally sent a check for my escrow even though I didn’t have to pay my escrow because my FHA mortgage did. So I sent a $1500 dollar check and then I had a bunch of bills hit at the same time. I received a notice that I had over drafted in my bank account. At this point in my life, I had never over drafted because I’ve always been very diligent with my money. I kept track of everything. I knew exactly what was going in, what was coming out. I always kept a very good record of what I had.
I remember this moment. I freaked out. I was in tears. I was bawling.
We had just left a soccer game and I was in the car freaking out and trying to figure out how I could get money into my account to avoid any more overdrafts. I was so scared. I said, “I’m never going to let that happen again.” This happens to the best of us and the worst of us. So like I said, in the past I freaked out. But this time when it happened to me I decided to take a different route that actually kept me from going deeper into the darkness because money is a very, very, very sensitive subject to us. When we don’t have any, we are freaking out and it’s like we’re in survival mode. When we have tons, we’re like, woo hoo, life is great!
When I realized that I didn’t have the funds to pay my bills, I said, “There’s two ways I can deal with this. Number one: ‘Oh my gosh. I have no money. I don’t know how I’m going to make this work. The bills keep coming. I don’t know how it’s going to work. I don’t know where it’s going to come from. How am I ever going to do this? I’m going to lose money. Oh my god, things are going to be bad. I’m going to be charged with fees.’” I could have gone really deep right there. That was one option.
The second option I said to myself, “Okay, alright. I see this. How can I make it better? What can I do to produce more income? What can I do to bring more abundance into my life?”
I picked up the phone and called my boyfriend and I said, “Oh my gosh, okay. Things are coming up short and it’s been a long time since this happened to me and I’m trying to figure out what to do.”
He replied, “How’s your state of mind?”
I said, “Well, I mean I’m not freaking out- yet. I’m almost there. But I’m good. I know I can find a way to make money and find a way to make this work because this is only temporary.”
He said, “Okay, I’m glad you’re in that state of mind.”
When you are in a similar situation, the number one advice I can give you is to stay calm. Just stay calm, breathe. If you go into ‘freak out mode.’ It’s not going to help. Know that everything will be okay. I’m not saying to put this thought out into woo-woo land and say it’s all going to be great, I’m going to leave it to the universe! But, what I am saying is if you take on that positive energy and you believe deep down in your heart that everything will be okay, it will.
Like I said, when you hit that point I want you to think of me in your face. Think of me saying, “Am you going to take the positive road or the negative road?”
Think to yourself, “If I’m going to take the negative road then I’m going to swirl right on down, it’s going to ruin my day. I’m going to eat Twinkies and Bonbons. I’m going to lay around an watch movies. I’m going to make bad choices. I may drink alcohol because that ruined my day.”
OR are you going to take the positive route and say, “Okay, I got this. Let’s put our big girl, big boy panties and underwear on and let’s find a way to make this work.”
Now it’s time to be objective and reflect on your spending. Look at it as objectively as possible. I highly recommend you get someone who’s trusted from the outside to look in. You cannot get upset when they point out things to you that seem excessive.
I called my financial planner right away and I said, “Hey, Chris. I need your help. This is crazy. I need someone to tell me where I’m being excessive.”
Watch your spending and keep track of it because maybe you bought a lot of Starbucks or a lot of clothes or a lot of groceries or a lot of excessive things that you didn’t need. Reach out to a trusted friend, someone who you can lean on but who’s not going to drag you down as well. That trusted friend for me was my boyfriend. You want someone who’s there, who can give a very objective… Be there, “Yeah, it’s alright, but you’ve got this.”
Then, it’s time to start budgeting and getting those materials in place because one of the things that’s really important is that you have to be good with the small things to be handed the large things. So if you can’t pull yourself out of this rut or out of this crazy place, you’re going to stay in there. I promise you.
What you think and what you put out there is what you’re going to attract in your life. The way your life currently is is a direct reflection of your thoughts and feelings.
I’m going to let that sink in.
The way your life is now is a direct reflection of your thoughts, feelings, and things you’ve said in the past. I know that may be hard to swallow because you’re like, “But, Jenny, I didn’t ask for this situation to be out of money or to not make the bills meet. I didn’t ask for this.”
But, I bet if you looked carefully, there were certain things you said and/or believed that lead to this point. I guarantee it.
If I look back on my own life, I guarantee it because I know that I’ve been saying things about my business. I’ve said, “Oh, I’ve got to keep it real,” or “Things are tight in my business. I’m barely paying this, or I’m barely paying that.” That bled over into my life. I don’t want that in my life. I didn’t ask for it. But guess what, those are the things that I thought and believed.
I encourage you to take the high road. I want you to take the positive road instead of the negative road when it comes to your financial situation when you say, “What do I do when I run out of money?”