Why your financial struggles might not be as hopeless as they seem
When you’re facing financial struggles - whether your budget isn’t covering your expenses or you’re just starting out and feel like your situation is hopeless (believe me, I understand where you’re coming from!) - it’s easy to get stuck in a cycle of overwhelm. But instead of focusing on what you don’t have, shifting your mindset toward resourcefulness can open up a world of possibilities.
Step 1: Assess Your Current Situation
Start by writing down your reality.
What is your current financial situation?
What do you need to cover your expenses?
What do you want your situation to be?
What needs to happen to get you from where you are now to where you want to be?
Step 2: Brainstorm Potential Solutions
Once you’ve defined the problem, brainstorm as many possible solutions as you can. Write down anything that comes to mind, no matter how unrealistic it may seem at first. A trick I learned from life coaching training is that sometimes the most “impossible” ideas can spark creative solutions.
If you’re struggling, start with the easiest or most comfortable solution. Here are some examples:
Reduce spending on groceries or meal prep strategically
Move to more affordable housing
Cancel unnecessary subscriptions or memberships
Ask for a raise at work
Seek government assistance if you qualify (e.g., WINZ in New Zealand)
Look at side hustles like dog walking, pet sitting, tutoring, or freelancing
Sell items you no longer need
Check if you’re eligible for hardship assistance from service providers (power, internet, rent support)
Visit a food bank or community pantry
Step 3: Narrow It Down to Actionable Steps
Not every idea will be practical for your situation, and that’s okay. Take your list and pick the top three solutions that feel the most achievable. These will be your first steps.
If you’re still feeling stuck, try using an AI tool like ChatGPT to help generate solutions. Here’s an example prompt:
“I have a budget shortfall of $500 per month. I already cut back on entertainment and subscriptions. What are some creative ways I can increase my income or reduce expenses?”
Keep going back to it and prompting it further until you get a solution that fits your situation.
Step 4: Shift from Hopelessness to Resourcefulness
Feeling overwhelmed is natural, but focusing on solutions rather than problems builds resilience. Asking for help doesn’t mean you’ve failed—it means you’re taking control.
If you have kids who are old enough, include them in brainstorming solutions. Teaching them a solutions-focused mindset will serve them for life.
Remember, no one is coming to fix everything for you. But that doesn’t mean you can’t get help for parts of the problem—you just need to ask.
Don’t be ashamed to reach out to safe friends and whānau. Even though it can be hard to show vulnerability and ask for help, your asking can sometimes be a gift for people who love you and want to support you.
Step 5: Take Action and Keep Planning
Once you’ve chosen your solutions, take action. Even small steps make a difference. If something doesn’t work, reassess and try another approach. Planning is key: if you fail to plan, you plan to fail.
The road to financial stability isn’t easy, but resourcefulness will get you much further than hopelessness. And when in doubt, ask for help.
