Who to Talk to When You Feel Your Control Over Your Money Slipping Away

It’s hard going through a phase in your life where you’re in trouble financially and you feel like you’re gradually losing control of the situation. It can be even more complicated if you don’t know any options for emergency help and recovery, and have to rely entirely on your currently available resources. Preparing ahead of time is definitely important when it comes to dealing with financial trouble. And sometimes this preparation is as simple as studying your available options, and making a mental note of each one. You must know exactly who you can turn to in case things go wrong, and what implications each of those options carries with it.

Friends and Family

The most obvious point to look at is also the one that gets ignored by most people. You should never brush off the idea of getting help from friends and family if it exists as an option, even if you feel like your pride doesn’t allow you to do that. Sometimes swallowing your pride and admitting that you have a problem is exactly what you need in order to get through a difficult situation, and you’ll feel like you’ve dropped a huge load from your shoulders if you just do that. Of course, there are reasonable limits to this – most notably, whether you’ve done it in the past, and what kind of sum you’re dealing with. Sometimes the problem might be beyond what your friends and family can solve.

Personal Financial Advisor

This is not something that all people have available, but if you have access to a financial advisor, it’s definitely worth sitting down for a talk about your situation. Sometimes your bank might be offering these services as part of the package of having an account with them, and many people completely ignore that they can get assistance through this channel. It may not even cost you as much as you expect, and in the worst case, one consultation won’t hurt you. It will, however, open your eyes to many potential problems with your finances, and will give you a good idea about how you can approach them in an efficient, directed manner.

Your Bank

Speaking of your bank, even if they don’t offer any financial advisor contacts, try to still get in touch with the institution and let them know that you’re in need of assistance. Taking out a loan from your bank can be a good way to mend your situation and move on with minimal damage, although it comes with some basic requirements that you would have to fulfil first. Keep in mind that the conditions you will get here might not be ideal compared to the rest of the market either – you should not underestimate the option of borrowing money from a private lender instead. If you’ve done your research, this can sometimes bring much better terms to the table.


Have you worked with an accountant for your tax returns in the past? Or maybe you’re even still working with one on a regular basis? In any case, don’t forget that these people can be invaluable sources of knowledge when it comes to financial issues, and you must never underestimate the potential of getting quality assistance from your accountant. As an added bonus, they will already have an overview of your situation and may even have some tips in mind that they want to share with you. You don’t have to listen to absolutely everything an accountant tells you about your financial situation, of course – but their advice can often be very insightful, as it will consider factors that you are more likely to ignore.

The Internet

Unlike medical problems, financial issues are definitely something you should look up on the internet and talk to people there about. There are entire online forums dedicated to the topic of personal finances, and they are often populated by experts with a lot of experience in the field. It costs nothing but your time to write a few paragraphs about your current problems and ask for advice in resolving them, and even if you don’t get a complete solution, you might sometimes find some surprising insights about your finances as a whole. Reading blog posts containing tips about money management should also be considered. There is a wealth of information out there and as long as you take everything you read with a grain of salt and remember to apply your own critical thinking to each of those discussions, there is a great learning potential to this which you should definitely not underestimate.

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