In today’s world, financial burdens are much too common. So much so that one seldom goes out of their way to specifically attend to a loved one under their strain. And a strain it really is! Dealing with debt, in particular, has the potential to leave one stressed, depressed and even overworked.
It is usually at times like these, when the signs of emotional and physical fatigue begin to manifest clear as day, that friends and family really search up ways to help out. Well, it might actually vary from situation to situation and, of course, the amount of debt, yet the basics remain more or less the same.
Have A Heart to Heart
Individuals fighting personal battles, particularly where money is concerned, rarely move about being upfront about their struggles. Hence, is it important that loved ones extend their support. However, this support does not necessarily have to take the shape of money itself. In fact, more often than not, what people really need is a good listener — somebody willing to lend their ear and ease, at the very least, their emotional burden. It can, of course, be a little challenging to get one’s loved one to open up about something they might actually be embarrassed of, but just letting them know that they are heard and seen — and far from being alone — can go a long way.
Act Upon Your Words
Making empty promises is possibly the easiest thing in the world, so to gain the trust of a loved one, it is essential to back up verbal support with meaningful actions. Going over to their place for a casual hangout, taking them for a drive, or even helping out in chores as simple as doing dishes, can work wonders in establishing that element of genuine trust and camaraderie. The loved one, safe in the knowledge of having love and support at their disposal, might take courage from these gestures to face the world with renewed hope.
Discuss And Strategize
Once the debtor is comfortable with the knowledge of another individual’s knowing about their situation, the next step is to get them to speak freely about their strategies going forward. It is important that they are not pressed into coming up with options or shamed for the lack of them. Ideally, the discussion regarding finance management and money-making strategies should be kept open and safe at all times, and should things start to take an overwhelming turn, it is advisable that the subject is immediately changed into a much more lighthearted one. However, having some sort of financial plan, vague as it may be, can put things into perspective and may even help ease the mind.
Make Sure They Are Not Being Exploited
When facing with adverse situations, particularly where finances are concerned, and usually when there is a family to feed, people tend to grab onto what they can get. In this element of desperation, chances are they might not always make the best of choices and settle for being exploited at the hands of their recruiters.
They may be made to work late hours for odd jobs, in return for making petty cash at best. It is at this point that the debtor may need their well-wishers the most, where they can guide them away from mistreatment and aid them in finding jobs more suitable to their calibre. Should they ultimately decide to go for odd jobs, eyeing flexible hours over a regular nine-to-five, the least that could be done is to actively help them search for well-paying ones, preferably by the hour.
Set Goals And Objectives Together
The key to helping a loved one is to be upfront and honest about one’s own financials, as well. The primary objective, however, should be to provide for them some much-needed clarity. For this reason, setting financial goals together, even when they may look nothing alike, can pay off in the long run.
In fact, regular check-ins to ensure neither party has wavered off-track can help one remain focused, ultimately yielding positive results for all involved. This could work much in the same way as having a gym-buddy, with healthy competition spurring motivation to strive harder.
Encourage Professional Help
There is only so much a single person can do, and only so much support alone can get accomplished. Hence, a wise step would be to encourage debtors to seek professional help, where an unbiased walkthrough of their financial situation and options going forward, might turn out to be just the push they need. Professionals may be able to aid with key matters of money coaching, credit counselling, as well as debt consolidation. Their advice would arguably range higher, too, on the basis of their experience in dealing with such matters.
All in all, while struggling under the heavy burden of debt most ertainly takes its emotional toll, having the right sorts of people around can make all the difference in the world. Therefore, it is important to keep an eye out for loved ones under such financial strain, so that they may be able to receive the support and encouragement they deserve.