6 People Who Can Help Get You Through Financial Hardships

Sign in to save article

Steffa Mantilla knew she’d take a financial hit when she decided to stay home full time to raise her son. Despite student loans and credit card payments, with some creativity and skill-building, she was able to pay off almost $80,000 of debt. She is now the owner of Money Tamer, a website and service helping other people manage their finances.

“I educate women on how to get out of personal debt and build wealth,” Mantilla tells CircleAround. Today, she’s a certified financial education instructor (CFEI) helping others succeed using many of the same methods she learned, such as working side hustles and monetizing personal passions for extra income.

A financial loss, whether personal or business-related, can be devastating, but there are many people you can turn to for support. We asked Mantilla to provide a few professionals to reach out to if you’re experiencing financial hardships.

1. Certified Public Accountant (CPA)

Having the help of a CPA can really impact the way you recover from a financial loss. Keep in mind that not all accountants are CPAs. A CPA has a special certification and can assist with personal financial goals as well as business needs, like bookkeeping, financial planning, and more. “Consulting these professionals will help you get back on track and move towards your goals again,” Mantilla says.

2. Certified Financial Education Instructor (CFEI)

CFEIs, like Mantilla, undergo training to help others with money management skills in ways that other money-related professionals may not have the experience or the time for. They can teach others how to create a budget, evaluate financial products, and even weigh their investment options. 

Mantilla’s website provides resources on how to save and manage money, earn extra income or work from home full time, and how to create budgets that fit your lifestyle. She built her business based on over 12 years of previous experiences, but her certification provides her with a professional framework to guide others with.

3. Lawyer

Lawyers can and should be consulted if anything needs to change in terms of your personal assets. “They may be able to find ways to limit your financial hardship legally,” Mantilla advises. Financial lawyer specialists are available, but your personal lawyer, or the lawyer for your business, should be able to help and connect you in the appropriate ways.

4. Tax Accountant

Many tax accountants are already CPAs so it’s possible to ask your CPA for help, but if you’re otherwise alright and just need some extra support during the tax filing process, a tax accountant could be the perfect person to consult. A tax accountant will be incredibly valuable if you have a lot of assets, especially complicated ones. These accountants are able to hone in on how to get the most out of filing your taxes, along with ensuring you file them correctly when tax season rolls around. 

5. Human Resources Personnel

Maximizing your budget when you’ve been hit by a financial loss is important, and your workplace’s HR department may be the secret weapon you need. Many HR professionals can help you find work-related programs that help you save money, like setting up a Health Savings Account (HSA), a Flexible Savings Account (FSA), commuter benefits,  401k accounts, and more. 

6. Therapist

“It's important to give yourself time to grieve and be sad after your financial loss,” Mantilla tells CircleAround. “If you're having trouble processing the loss, grief counseling can help.” 

There’s no shame in seeking professional help after enduring financial hardship. Many times, it can help stabilize your emotions so you can get back on track with your plans. Talking through the issues may also provide insight on how you can prevent similar losses in the future.

Tags: Budgeting, Saving Money, Tips from Women Executives, Working From Home, Saving Money

Sign in to save article
Share

Written By

Katka Lapelosová

Katka is a writer from New York City, currently living in Belgrade, Serbia. See Full Bio

CircleAround is owned by One GS Media, a subsidiary of Girl Scouts of the USA, and we make financial distributions to benefit the next generation of Girl Scouts. We strive to make the world a better place by supporting each other today and emboldening the women leaders of tomorrow.

Love this article?

Sign up for the newsletter to get the best of CircleAround delivered right to your inbox.

Welcome
to our circle.

We're women, just like you, sharing our struggles and our triumphs to make connections and build a community.

We also make financial distributions to benefit the next generation of Girl Scouts.

About Us