Financial difficulties can be deeply shameful, leading many to hide their struggles or put on a brave face. However, openly addressing these challenges is crucial for finding solutions. That’s the lesson I learned through my own transformative journey.
In 2015, I found myself in a precarious financial situation in Ireland. As a stay-at-home mom with three young kids and a single income, my family was hit hard by rising mortgage payments on our dream home. Anxiety and stress consumed me, but I knew I had to act before it consumed my family.
I started by acknowledging the problem and seeking help from a wonderful mentor. This allowed me to gain the knowledge and perspective I needed to start tackling the issue. I shifted my mindset from focusing on the negatives to practicing gratitude for what I did have – my three healthy, happy children, a beautiful home, and the ability to provide for my family. I also began systematically saving even small amounts, which grew over time into a meaningful financial cushion.
Just when I thought we were on the right track, the COVID-19 pandemic struck, wiping out my husband’s income as a pilot. But thanks to the financial foundation I had built, we were able to weather that storm. I even discovered a passion for real estate investing, which helped supplement our income during that difficult period.
However, the challenges didn’t stop there. I faced a series of seemingly insurmountable setbacks, including my family home being raided by authorities due to criminal activity by our tenants, a painful divorce that forced me to reevaluate my priorities, and ultimately being duped in a liquidation scandal that cost me c £100,000. These events were deeply shameful and overwhelming, but I refused to give up.
Through it all, I learned the importance of vulnerability, asking for help, and not trying to “fix” everything alone. I also realized that the smartest, most capable people can struggle with financial troubles. The key is taking that first step, whether for yourself or someone you love facing similar challenges. Sharing my story openly has allowed me to connect with others who understand the unique pain of financial hardship.
As Martin Luther King Jr. said, “You don’t have to see the whole staircase to take the next step.” By taking it one step at a time and seeking support from my family, friends, and mentors, I was able to overcome my financial struggles and emerge stronger. I hope my story can inspire others facing their own daunting financial challenges to keep going, no matter how bleak things may seem in the moment.
To Your Financial Wellness,
Caitriona
