Navigating Financial Setbacks | Money Management | Exodus Lending - Exodus Lending

Navigating Financial Setbacks

By Kaitlyn Szabo August 26, 2019

Life is full of unexpected changes, hurdles, and setbacks. Fortunately, with a little foresight, discipline, and determination, you can weather the storm. Here’s how:

  • Accept your situation by processing what happened, and emotionally preparing to move on
  • Adjust your financial plan by reviewing your resources, and recognizing your next steps
  • Anticipate your ability to handle future setbacks by establishing an emergency fund

Acceptance and Acknowledgement

Before you panic and rush to hastily-made decisions, take a moment to think intentionally about your situation. Reflect on the following questions so you can learn from what happened,  determine the best action plan for your needs, and (hopefully) prevent this situation from happening ever again!

It is normal to feel sad, angry, anxious, or frustrated during hard times. We strongly encourage you to practice money mindfulness to process your emotions. Some helpful self-care practices include journaling, meditating, or talking with a friend. 

After you understand why and accept that you’re going to be okay,


The past is behind you, and now is the time to take action.

Adjustments and Action Steps

Following an unexpected setback, you’ll likely need to make some adjustments in your budget to accommodate the loss of income.

  • Determine what resources you have to handle the situation, and for how long
  • Adjust your budget to your new financial reality and rein in spending as much as possible

Anticipation and Advocating for Yourself

No one wants to think about the potential financial hardship on the horizon. But as we’ve already learned, we have to expect the unexpected. There is nothing anyone can do to eliminate the possibility of setbacks, but we all can take steps to lessen the impact, including:

Believe in Yourself 

Don’t forget: you already know how to navigate financial hardship – that’s what led you to Exodus Lending in the first place! You’re free from payday loan debt because of your ability to accept your situation and ask for help, make adjustments and take action by enrolling in our program, and anticipate future setbacks by saving and by never taking out another payday loan.

You’ve tackled at least one financial hardship already. Believe in yourself and your ability to take on any future hurdles that may come your way. We believe in you.

Money Management E-newsletter: June 2019