Afraid of Going Broke!

It all starts with money problems, with the money you have being in short supply. Having money problems shows when there's no money left in your wallet to buy something, say, a loaf of bread. That's by no means something ridiculous; it happens very often in everyday life. Well, some might say, then I'll just go to my bank and take some money out of my account. A smart idea, but there's no money left in the account either. Suddenly, good advice is hard to come by.
People are often faced with this kind of fear, the fear of going broke. It can have all sorts of causes. One of the most common is suddenly losing your job.

Is sudden unemployment the only thing to blame for going broke?

This question can't be answered with a blanket "yes". Sudden unemployment can be one reason a person is threatened with going broke. Let's take the following example: A family has been started, both partners have jobs and earn good money. To furnish the home and buy a car, which has to be driven to work every day, an installment loan was taken out at the bank. For whatever reason, one income in the family suddenly drops out, and there we already have the situation and the fear of going broke. So the fear of going broke does arise if an income drops out.
Another common reason is that you've overextended yourself financially, which in plain terms means: "You're living beyond your financial means". Nowadays it's very easy for individuals to lose track of their financial situation. Advertising tempts people into exactly this by saying: "Order today and pay in 3 months". Or before Christmas, when the scramble for customers is huge and the ads say, "order before Christmas and pay conveniently in the new year". And in the new year, what has to happen happens: the household finances aren't enough to cover the running costs. Why? Because in January, for example, many payments for the whole year come due, and now the ones from the department stores pile on top. In this situation, you become afraid of going broke.

So how do you deal with the fear of going broke?

Being a little afraid of something isn't always such a bad thing. The fear of going broke can even help people. Suddenly you ask yourself: What did I do wrong, and how can I avert going broke? The thought process is stimulated and encouraged. You start looking for mistakes, for the causes that trigger this fear, and that's the first step to avoiding going broke. A little fear doesn't hurt, then; fear can be helpful.