Surviving Financial Uncertainty

One of the most reliable aspects of today’s economic and cultural environment is change. Typically, we humans have the capacity to embrace and accept slow, incremental change. However, when change is viewed as unintended, abrupt, and/or unexpected, reactions to it can be quite extreme and severe. Further, our various “life and career paths” can fluctuate the speed in which we adapt to different environmental, financial, or cultural adjustments; and our “self-view” can greatly affect our physical and mental outlook about the future. Although we likely can’t help every member resolve all their immediate financial concerns, InTouch Credit Union is here to help members mitigate and adapt to unexpected changes in their economic and financial circumstances. If anyone finds themselves apprehensive about their current financial status, try following one or more of the steps below.

First, try to relax and breathe. There are few situations where more anxiety helps to produce better results. Try to remember that your current predicament may be new to you, but more likely than not, the Credit Union has assisted other members in similar situations. We can’t guarantee a positive solution or outcome in every situation, but we have helped many members over our 50+ years of service get through some trying times.

Next, “purchase patience versus rushed emotional decisions” typically improves the quality of future financial options, similar to knowing the difference between a “need” and a “want.” In today’s instant gratification society, slowing down to think about purchase decisions along with financial priorities can be greatly beneficial. More importantly, making every attempt to keep your “financial” word is a key factor in the positive creation and maintenance of your personal “financial brand.” When funds are tight, the ability to understand the negative consequences certain short-term purchases can make to “keeping up appearances and lifestyle choices,” thereby causing you to break existing promises and your “financial word,” will definitely be worth the effort and/or sacrifice. Several credible studies have shown that consumers that keep their financial commitments as promised save between $125,000 and $500,000 in lower borrowing costs and interest payments over their lifetimes.

Lastly, why worry about things of which we have no control? For example, we can’t speed up or slow down our next birthday from arriving, nor can we know exactly how much rain will fall next week (if any). In fact, a few sage prophetic words come to mind…“Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own."

Opportunities frequently appear to become available when the focus is on today and the financial decisions we DO control, and the Credit Union is here to help you through uncertain financial times!