Bankruptcy Blues: 5 Ways to Cope with the Emotional Stress of Bankruptcy

Bankruptcy Blues: 5 Ways to Cope with the Emotional Stress of Bankruptcy

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While there are many financial challenges that can cause an individual to experience emotional stress, bankruptcy is at the top of the list. However, it’s important to note that there are a plethora of coping strategies you can utilize in order to prevent yourself from becoming inundated in the sense of frustration, anger, and hopelessness that stress induces. To overcome the emotional stress of bankruptcy and get back on your feet fast, utilize the following five strategies:

1. Hire a Professional Financial Adviser.

This strategy is effective because it enables you to consult with an individual who is knowledgeable about your unique condition and challenges. When you speak with a professional financial adviser, she or he will have the extensive experience and education necessary to provide you with sound counsel regarding how to recover from bankruptcy and revive your economic life. In so doing, the financial adviser can help you alleviate the emotional stress that results from bankruptcy.

2. Create A Budget.

Creating a budget is yet another effective strategy you can utilize in order to end the emotional stress of bankruptcy. By creating a budget, you bring consistency and order to your life. Or more specifically, according to a leading bankruptcy firm in Ogden Utah, the budget functions as an outline through which you learn exactly how much you’re going to earn and where each dollar will go. When you create this type of budget, you will find that you regain control of your financial future, thereby decreasing or even eliminating the experience of emotional stress.

3. Exercise.

Exercise is a great way to alleviate all types of emotional stress, including the stress that results from the onset of bankruptcy. As many health experts know, exercise releases a hormone called serotonin in the brain. This chemical is often called the "happy hormone" because it precipitates feelings of happiness and joy. For this reason, you should get in the habit of jogging, cycling, or doing some other physical activity that you enjoy in order to overcome the emotional stress of bankruptcy.

4. Talk With A Friend.

Sometimes the alleviation of emotional stress is as simple as talking with someone we know and trust. When you pour out your heart to a friend whom you know well, you can attain the sense of catharsis and well-being that results from the activity of "venting." (Note that this strategy can be effective in the alleviation of all forms of stress, not just those that result from the onset of bankruptcy.)

5. Sleep.

A lack of sleep is one of the leading causes of stress and the negative health effects that result from it. Since this is the case, be sure that you’re getting adequate amounts of sleep each night. To increase the likelihood that this will happen, be sure that you’re also exercising and eating a proper diet to help regulate the body’s internal clock.

If you’re serious about coping with the emotional stress of bankruptcy, you should note that there are several strategies you can employ to realize your objective. By implementing some or all of the techniques outlined above, you will likely find that your experience of bankruptcy-related stress decreases dramatically. Good luck!

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