SPOKANE, Wash. \u2014 Financial mistakes are common, but how you respond to them determines whether you’ll recover quickly or spiral into deeper financial trouble.<\/p>\n
“Almost all of us have made financial mistakes, whether it’s buying a car or a home you can’t afford or not having a safety net after losing your job,” Derek Deis said in 4 News Now’s Money Saving Monday segment. “The key is not to panic.”<\/p>\n
Barin Saxton, a financial coach at Canopy Credit Union, emphasized the importance of seeking professional guidance rather than jumping at the first available solution.<\/p>\n
“I would certainly meet with a financial coach if you are stressed, but try not to jump into the first available option for you,” Saxton said. “And that is where people often get into severe long-term problems with debt or other situations that can really get them into trouble.”<\/p>\n
Reframing financial mistakes as learning opportunities rather than failures helps you move forward more effectively. “I made a mistake, but that’s okay. I’ve learned from it and now I know what not to do moving forward, which can make you a better decision maker in the future,” Saxton said.<\/p>\n
One of the biggest dangers is rushing into solutions without comparing alternatives. Panic-driven decisions often lead to debt settlement companies, buy-now-pay-later cycles, or payday loans\u2014all of which can cause more harm than good.<\/p>\n
The good news: help is available. Government programs like SNAP and Medicaid, along with free financial coaching through credit unions, can support you during financial hardship.<\/p>\n
“Programs like SNAP, Medicaid, and other publicly available resources are there to give you a hand when you are struggling,” Saxton said. “And there is nothing wrong with taking advantage of those resources.”<\/p>\n
By taking time to assess your options, seeking professional advice, and utilizing available resources, you can recover and build stronger financial habits moving forward.<\/p>\n
COPYRIGHT 2026 BY KXLY. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.<\/p>\n","protected":false},"excerpt":{"rendered":"SPOKANE, Wash. \u2014 Financial mistakes are common, but how you respond to them determines whether you’ll recover quickly…\n","protected":false},"author":2,"featured_media":630873,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[177],"tags":[256266,79,256268,266534,18,90603,19,17,234,235,12985,6039,2709],"class_list":["post-630872","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-barin-saxton","tag-business","tag-canopy-credit-union","tag-derek-deis","tag-eire","tag-financial-coach","tag-ie","tag-ireland","tag-personal-finance","tag-personalfinance","tag-saving","tag-spokane","tag-washington"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/117073430876501953","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/630872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=630872"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/630872\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/630873"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=630872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=630872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=630872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}