by Amela Piric

Created on: April 19, 2009   Last Updated: August 21, 2009

Don't get discouraged but learn from this valuable experience. Develop the right attitude and show emotional resiliency in overcoming your current situation. Look at being flat broke as a test of endurance and strength necessary for achieving success later on in life. Nearly half of all entrepreneurs were flat broke before achieving lasting success and wealth.

Below listed are outlined steps on how to cope with being flat broke and rise above the situation at hand.

1. Learn from the experience

Realize that being flat broke is just a transitory phase in your life. Learn how to display emotional resiliency in order to recover from being flat broke quickly and decisively. As you may already know, success can rarely be achieved through a straight line in life. What is important to understand is that being broke is a valuable experience that can lead one to full and complete understanding as to how replaceable money is.

2. Release your fears about money

Any successful person will counsel us against fear. More people are controlled and inhibited by their fears about money than by any other kind of fear. People fear not having money but they also fear being changed by having it. They fear making poor decisions regarding money. They fear running out of money before they die. They fear loosing most of it. Even the wealthiest people still have a whole lot of emotional baggage related to money.

Replace your fears about money with a rapidly growing confidence. If you look at it from the right perspective, being broke is just a mere bump in the road. Replace your fears with a rapidly growing confidence. Confidence magnetically attracts money as confidence reflects real understanding and everyone is attracted to understanding.

3. Understand that money is easily replaceable

When you are financially broke, you may feel that you will never have any money. The trick about money is understanding that it is available in unlimited supply and readily replaceable. This is not to suggest that you should not take good care of your money and deal with it wisely. Waste and irresponsibility is almost always punished by the laws of nature as such behavior is repulsive to money. But, once you discover that money is readily available and more easily replaceable than the first time around, the light bulb comes on to full power. From the moment of this realization forward, your fears about money will permanently vanish.

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