HOW I SURVIVED AFTER GOING BROKE FROM POKER
1. ONLY URGENT TASKS *CANCEL PLANS*
- something coming up? cancel
- friends ask for drinks? cancel
- dating? cancel
- takeout? cancel
- appointment with co-pay? reschedule
2. BASELINE: Create a list of EVERY product/service/investment you want in the future
- this reduces compulsive purchases
- this allows you to evaluate what you actually want
- this makes you realize what you already have
3. ONLY PAY RENT, live in your car, go homeless & find shelter, or learn survival skills (seriously) *Liquidate, & move whatever money/income into a different account holding CASH*
- DELAY ALL PAYMENTS
- DON't pay credit cards
- CANCEL ALL SUBSCRIPTIONS
- WATER, RICE, & NOODLES become your friend
- DON'T pay food (pantry, state SNAP, friends), phone & internet (affordable connectivity, free apps, libraries) haircuts (learn to give yourself a cut, buzz-cut)
- don't pay car insurance or car payments (bike to work if your job is within 25-30 miles)
- if absolutely necessary for your job: make car payments in order to keep your income
- negotiate car insurance rates, take a defensive driving course, maximize state discounts
- sell your car & downsize to a functional used car for much cheaper (toyota, honda, mitsubishi, mazda)
4. REDUCE, SUBTRACT, MINIMIZE (trash, sales) *James lived with 2 bags*
- reduce your belongings to the bare nessecities & what brings you well-being
- sell products to pawn shops & online
- ELIMINATE the emotional attachment to your belongings
5. Cut yourself some slack. Don't be so hard on yourself. These circumstances should be temporary.
- You're not alone
- Financial setbacks are a part of life
- Don't be afraid of asking for help
6. GENERATE INCOME OR QUIT MONEY ALL TOGETHER
- generate ideas, make calls, and become more resourceful
- learn skills, achieve a license or credential, find a job
- pool money together with friends & start a project or business
7. Reclaim what brings you joy
- begin to occasionally splurge, don't completely cut what brings you well-being
- when you deal with going broke, or other stressful situations -- you realize & appreciate the things that actually matter to you
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