During one of the times I was discussing with a friend of mine, she revealed to me how she invested wrongly into what later turned out to be a ponzi scheme and she lost some heavy amount of money which set her many steps back financially. With a few encouragement, support, and her personal determination, she was able to bounce back from what would have kept her down, and now, she is doing well. This shows that with determination and grit, one can move out of financial setback and achieve something worthwhile. Here, we shall take a look at how to overcome financial setbacks. ![20231217_212018.jpg](https://cdn.steemitimages.com/DQmV9S7akBs2pyKDeAGGYkuQsU7xpn89J39cp7xXyyU5Hua/20231217_212018.jpg) _{Image from [Pexels](https://www.pexels.com/photo/frowning-man-beside-wooden-table-7063772)} The first and the most important point is for you to determine within your mind to rise up from your fallen state. A lot of people have suffered some serious financial losses and bounced right back from it, but some others have remained in the state to seek for self-pity. You may not have had a choice of what led to the loss, but you have a choice of either remaining in it or walk pass it. Imagine someone that lost their job and then spends everyday to sulk over it, whereas the other person starts submitting his CV and hunting for new job, who do you think will overcome the setbacks first? Of course the person that has determined to move pass their losses. The truth is that you may not be able to predict the trend of events and as such, things may not work according to how it has been intended to. So as much as you hope for the best, it does not overrule the fact that the unexpected can happen and so, you need to be prepared for it. So after you have established a determination to overcome your financial challenge if it happens, the next thing is to work on your mindset, your Will, and resilience. A lot of people have become victims of their own negative thoughts. If you believe that your financial setback has defined your future, it will be so, and it will keep you down, but if you master your mind over it, then you will easily overcome it. After working on your mindset to think positively on how to come out of the setback, another important thing to do is to learn from the past mistakes. Whatever it is that put you into the financial challenge should teach you enough lessons not to repeat it again, to avoid falling again into the financial setback. In fact, if what put you into the financial mess did not teach you any lesson, then you may see yourself repeating it again and then the trend keeps repeating. But if you learn a thing or two from it, you will not only be free from it but will stay free. It takes a considerable amount of knowledge for one to overcome their past challenges and stay free from it. ![pexels-mikhail-nilov-8297240.jpg](https://cdn.steemitimages.com/DQmfTEwjqe2LN5xeDH7ky5t6x1PykvSa1N7P2hufYscC4R7/pexels-mikhail-nilov-8297240.jpg) _{Image from [Pexels](https://www.pexels.com/photo/an-exhausted-woman-reading-documents-8297240)} One of the things to learn from your past financial setbacks is to build an emergency fund or savings, that will cushion the effect of similar things like that in the future. The truth is that you may not be able to predict when and how a challenging situation, especially the one that relates to finances, will arise, but you can make provisions for it. For example, as you invest money and maybe put your money into one form of business or the other, you have to also keep some funds for savings to guard against eventualities and other unforeseen situations. So in order to overcome past finances setbacks and future financial uncertainties, then you have to understand the place of savings and try to save from your earnings. It may be what you will fall back in the future. The final point is to build on your network of friends and have people that will have your back. I remember when one of my friends had a little challenge with his place of work and for a couple of months, he was not paid. We came together; a group of his friends, and raised him some funds with which to start up something until they rectified things in his place of work. He was glad and happy that we came through for him. Of course, he would have also done it for others if it was someone else that needs the help because he is a good guy. So you see, try to build a good network of friends because they may be the shoulders you will lean on in time of challenges. ***Thanks for reading***

Peace on y'all

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