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Value Creation Blog

Changes Can Be Caused BY Or Cause Financial Change

Posted by Josh Patrick

change

 

 

 

 

Change…something we all dread.  Some changes are welcome and some not so much so.  Financial change is in one of those “it depends” types of change.  Sometimes it’s welcome at first and sometimes we dread the changes that happen.

The title of this post is pretty obvious.  Yes, changes can be caused by financial change.  And yes, financial changes will cause change in our life.  The question is how will we handle those changes?

A financial windfall can change your life.  Winning the lottery, receiving an inheritance or getting any financial settlement can change your life.  If this happens, I suggest you take a step back before making any major commitments.  We call this the decision free zone.

In a decision free zone you still make decisions.  But the decisions you make are the ones you have to make.  The rest you put on hold and if possible go through a process that helps you understand what are the important changes you will make in your life.

A financial setback will also change your life.  Going through a divorce, losing a job, having a major illness are all things that often make your life more difficult.  Not only financial difficulties will arise, but emotional ones as well.

Having a process to follow can also help in this area.  You might want to develop a new cash budget for where your money will come from and what you have to spend money on. 

The problem with both positive and negative is diminished mental capacity.  Often, when a major change happens in your life you will experience less mental capacity.  You won’t think as clearly and making decisions might become more difficult. 

When you experience major change in your life it’s important that you don’t make any major long-term commitments or changes quickly.  Thinking clearly about changes that you have occurred in your life will take time, sometimes years.

Having a process that helps you make wise decisions about major changes in your life can help you navigate a difficult time more easily.  A process can help you come out the other side of your experience in a better place.

What are your thoughts about change?  Do you think a process might help?

Josh Patrick

We often find a process is most important when a Sudden Money® event is about to or is happening.  I encourage you click on the button below and download your decision free zone workbook.  I’m sure you’ll find the time invested worthwhile.

click-here-for-your-workbook

Securities and Investment Advisory Services offered through NFP Securities, Inc. (NFPSI), Member FINRA/SIPC. Stage 2 Planning Partners and NFPSI are not affiliated.

This article is published for residents of the United States only.  Registered Representatives and Investment Adviser Representatives of NFP Securities, Inc. may only conduct business with residents of the states and jurisdictions in which they are properly registered.  Therefore, a response to a request for information may be delayed.  Not all of the products and services referenced on this site are available in every state and through every representative or advisor listed.

Topics: sudden money, decision process, Change

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