We all make money mistakes. And even if we don’t make many financial missteps, the reality is that a disaster can unexpectedly set you back.

When you are suffering from a financial setback, it can seem as though everything is out of your control. How can you take charge of the situation?

Having gone through several financial setbacks myself as well as counseled dozens of clients through it, I get how tough it is. I know there were times when I wanted to quit. I even convinced myself that trying was pointless at times. Deep down though, I believed that things would eventually work out.

If you’re in the midst of a money struggle, you might be asking yourself if there is a way to get back control of your financial life.

Luckily, the answer is yes. The solution isn’t always easy, but it’s workable. Here are seven tips for taking charge of your finances after a setback:

1. Honestly Evaluate Your Situation
Your first step is to honestly consider your situation. How bad is it? Tote up the debt and consider your sources of income. It’s not fun to look at the numbers and it can be overwhelming, but it’s important to face the realities of your situation. You need to know what you’re up against so that you can make an appropriate plan of attack.

When I was in college I convinced myself that I was doing “okay”. The reality was that I had charged over $10,000 on credit cards and accumulated almost $20,000 of debt. Many might think that amount isn’t “that bad” but the sad truth was that I was in the military so my schooling was paid for. I had no reason to take out…

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