6 Ways to turn financial crisis into opportunity


1. Take responsibility for results As Winston Churchill said, “the price of greatness is responsibility”. While external forces may have made things worse, face the fact that the solution is now in your hands.


2. You won’t rebound until you hit bottom Rather than constantly asking for financial help, realize that seeking “band-aid” solutions just delays the inevitable. Only when you hit bottom will you become motivated and resourceful enough to prevent it from happening again.


3. Some risks are worth taking As T. S. Elliot once said, “Only those who will risk going too far can possibly find out how far one can go.” Once you hit bottom, you don’t have much to lose. That’s a good time to take a calculated risk. Consider starting a small business in your spare time to generate additional income. Nothing ventured, nothing gained.


4. Have the discipline to work hard and make sacrifices The late Jim Rohn said, “Affirmation without discipline is the beginning of delusion.” There’s no instant answer or special secret. Most financially successful people worked long hours and took all the required steps. In short, they were willing to pay the price of success.


5. Adjust your attitude. If you’re not where you want to be financially, chances are, you have beliefs about money and success that are holding you back. Remember, it’s not what you are that holds you back, it’s what you think you’re not. Your attitude determines your altitude. If your thinking is different from people who are in a better financial situation, perhaps you might consider adopting their views.


6. Seek out successful mentors Take advice from people who are following their own advice. Find mentors who are already creating the kind of financial freedom you dream of. Success leaves clues. Model successful people and you’ll become one of them!


There you have it. Now it’s time to take action.


Jason Henneberry is the Chief Financial Strategist for MortgagePal. He provides group training and one-on-one mentorship to Canadian investors that want to save unnecessary interest and taxes and keep more of their hard earned money for themselves. Contact Jason @ 604 908 2187, email Jason@mortgagepal.ca and www.mortgagepal.ca


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