People hate to lose money. It happens more than they would like. In many cases, they try to keep the losses small. But, when those losses become large, it can affect the quality of their lives.
It may seem strange to use the word grieving when dealing with large financial loss. The process is very similar to losing a loved one. It’s all about a big change that was unexpected. This change is likely to affect people for a while. This is why people refer to grieving when dealing with financial loss.
The big difference between the grieving that comes from people and the grieving that comes from financial loss is the financial loss can be turned around. However, that is actually a pivotal statement that you need to consider. Many people who suffer from large financial losses are never able to turn the situation around. They think of it as something permanent. This gives them the excuse to feel sorry for themselves and continue living with the negative situation.
Some people feel like they are better off without the strings that come with having a lot of money. They feel freer in their lives, and there is less pressure on them. It’s important to realize that for these people, they have moved on from grieving, and they have less chance of focusing on the negatives of losing that money.
There are other classes of people who cannot handle large sums of money. This is a common affliction among lottery winners who earn huge jackpots. They end up spending a majority of those winnings much quicker than anticipated, which leaves them in that state of grieving. Families who win these large jackpots often have differing opinions about how the money should be spent (or not).
Recovering from a large financial loss is going to depend on how you want to go about it. If you are in the camp of people who don’t want the pressure that comes with large sums of money, accept the loss early on and live your life accordingly. On the other hand, if you want to rebuild your financial empire, it all starts with a plan. Think about the fact that it happened once before and determine the best approach from that. The worst situation is to dwell on the loss for the rest of your life. This will make you miserable, and it will prevent you from living a decent life going forward.
Citizen Counselling and Coaching have a number of our counsellors and coaches in Birmingham who can provide support for grief, loss and bereavement. This can include patient one to one support, creating practical coping strategies and through sharing techniques and models that have worked for others. We also have specialist counsellors who work with children aged 4 upwards.
Our ‘My Grief & Loss Coach’ online programme and Coaching was designed for time poor busy people looking to manage their grief and loss or for those who don’t feel they can talk with a counsellor or coach one to one at this stage.
Our Grief and Loss page can explain more
You will find our online programme ‘My Grief & Loss Coach here