Money Mission: Earn Your Own Income

How to Change Your Financial ‘Panic’ Into a ‘Plan’

You constantly feel sensations of dread and foreboding.
You have a pounding headache that is resistant to strong medication.
You get a stomach ache whenever you think about money.

You jump involuntarily whenever your phone rings from an unknown number.
You wake up suddenly in the middle of the night, or sleep eludes you for many restless hours.
You sometimes even find it hard to breathe as your heart races uncontrollably.

Many persons can identify with these indicators of chronic anxiety. With the incessant increases in inflation, regular reports of redundancies, and deepening dependence on debt, more people are becoming panicked about their financial condition and terrified about what may happen in the future.

It’s dangerous to live in a state of panic, as this can lead you to develop costly health challenges, which will only make your finances more precarious. If you’re tired of living in fear about money, here’s a simple strategy which you can utilise to transform your panic into a workable plan.

Eliminate the I – Ignorance

It’s understandable for you to feel panicky if you are uncertain about your true financial position. In order to conquer your money concerns, you first need to honestly assess the issues that you are currently facing, or try to determine the extent of the problem that you fear will take place in the future.

For example, you could be scared that you’ll be laid off from your job because sales have slowed to a crawl at your workplace and your employer always seems to be worried about making the payroll. Instead of getting jittery whenever your boss calls a staff meeting, you need to find out the facts.

Request some time to speak with your supervisor or directly with your boss, or liaise with the human resource department to discuss your concerns. Explain that you have noticed the challenges that the business is facing and would like to see if there is anything you can do to help improve the situation.

While you may not necessarily get a full report on the true state of the company’s finances, expressing your interest may help you to get a better appreciation of the viability of your future employment. Your intention is to arm yourself with credible information that will allow you to figure out your next moves.

Remove the C – Confusion

Another reason why you may begin to panic about your money woes is that you are confused about the actual sources of your financial difficulties. It’s hard to think objectively and create solutions when you’re not sure about the reasons why you are experiencing the problems in the first place.

Let’s say that you operate a small enterprise which is struggling to survive in this tough economic climate. You may feel powerless about your inability to pay your bills and control your indebtedness to the bank, and you may be terrified about losing everything you have invested in your business.

To overcome your sense of despair about your financial crisis, you need to truthfully evaluate your own business practices to see if they have contributed to your poor results. Have you really been effective in managing the important areas of production, sales, marketing, staffing and accounting?

Also consider the industry in which your business operates. If your main competitors are facing similar challenges, then your sector may be in decline and you may need to look at other options. However, if they are succeeding in this climate, then your problems may lie solely within your own enterprise.

Apply the L – Logic

Ignorance and confusion feed panic; once you have a better picture about the nature of your problems and the reasons why they may have occurred, you should feel a little less flustered about your money issues. However, your worries won’t disappear until you find a way to fix those issues permanently.

Your next step is to think of appropriate tactics that will help you to turn around your situation. It’s important for you to put aside your emotions and think logically about possible solutions. You may need to get professional guidance to determine the best plan of action for your situation.

So, if your investigations reveal that your boss may eventually have to close his business, then you need to start looking for another job or source of income. Update your resume and network within your field. You may want to also consider getting career coaching to discover other work opportunities.

If you determine that your business challenges stem from your own shortcomings, get training where necessary and hire competent persons to carry out key operational functions. If you realise that your business model is no longer relevant today, then get creative and find other innovative ideas to earn.


This article was written by Cherryl Hanson Simpson, Cherryl is a Financial Consultant and Coach, 
and founder of Financially S.M.A.R.T. Services in Jamaica. 
Visit her website at and
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