Road to Financial Recovery - Don't Make Emotional

1. Take Responsibility - First and foremost wherever you find yourself take total responsibility for it. The good and the not so good. Realise that ultimately it was us who sowed the seeds and are now reaping the harvest. This is often the most difficult step but the moment we take responsibility, we also reclaim our power to do something about it!2. Take Control of what you can control - no point trying to control what you can't control like the state of the property market, share prices and so on but there are many things you can control - your state of mind and what you're focussing on in your life, make a list of what you can do - start a new business, do what you've always wanted to do, save even a small amount of money each week in a secure savings account, go the extra mile for your customers, go out there and get more customers. Do something to help someone else. Create a vision for yourself which excites you and take action today to start realising it.
We all make emotional purchases at some point during our live time, but when you're coming out of a financial crisis or debt it is not the time to indulge in any way. Fiscal responsibility is essential and will make the difference if you succeed or fail.
Now suppose I lose my job or the property and share prices collapse or I become separated? What will people think of me then, especially if I've been manipulating the "system" for my own "profit"? On the surface the job is gone, my shares are worthless and people dont think I'm so successful afterall! However even more important to realise is that underneath the surface the very identity which I based my life has been shattered! And it is this collapse in identity which is the greatest challenge for most people. It is this collapse that can cause people to lose heart, to become depressed, to turn to drink or drugs and in the worse cases to give up on life altogether and commit suicide. And the more we try to hold on to this illusionary identity the more suffering we create in our lives. However if you or someone you know find themselves facing such challenges, take heart, there are things we can do to rise above the doom and gloom and learn these life expanding lessons that life is offering us all.
To make progress on the road to financial stability, you need to develop the good habits of wealthy people. It's not that you can't ever buy a pair of expensive shoes or a flashy car. You just need to understand that money is not something to spend on a whim. It's actually something you should only spend when you know you will get some tangible benefit in return.
To do this you will have to modify your spending habits. Here are some spending habit do's and don'ts to keep you on track.
Once you have successfully negotiated your way out of debt, it is crucial that you take steps to adjust your mindset. You should adjust your mindset on two levels. First of all, you need to change your thinking to ensure that you never get into debt again. Second of all, you must adjust your mindset to create wealth to protect yourself in the future.
If you keep this in mind you will be less apt to buy on emotion and should control you spending habits more easily.
Don't make emotional purchases.
Emotional buying makes up 80% of all purchases. It is easy to see how this can occur given all the advertising that bombards us on a daily basis. Advertisements are everywhere you look and pull at our emotions as we go about our daily routines.