How to Survive with Short Term Finance

How to Survive with Short Term Finance

There are two ways to survive financially, short-term strategies and long-term strategies. Short-term strategies will help you survive during hard financial times but may not lead to complete financial freedom. Long-term strategies could lead you to financial freedom but require greater sacrifices and resources. Both have benefits and costs. Before going any further, know that if you have fallen close to bankruptcy in the state of Tennessee, consider asking a Tennessee bankruptcy lawyer for guidance.


Now, you might be wondering what surviving on short-term finance even means. People who choose this route might be experiencing one of the following:

  • A desire to spend money and postpone saving money
  • Financial struggles that prevent them from saving money
  • Barely skating by financially on bills and other responsibilities
  • Starting out from scratch after leaving home or graduating college
  • Trying to escape a financial pitfall

Not everyone finds saving money easy, for a variety of reasons. Some struggle to save money because there are things they want to buy now. Others struggle because of a lack of financial resources. Graduating from college, for example, leaves students with a lot of student loan debt. However, not every college student can find a decent job as soon as they graduate.

The good news is there are strategies for surviving these types of scenarios. There are four financial cushions that can help you avoid financial problems:

  • Positive cash flow
  • Liquid savings
  • High-quality credit
  • Social networks

Positive cash flow means you have a steady income coming in each month that exceeds your monthly expenses. When your income fails to cover your total monthly expenses, you have a problem. You might be able to turn to the other two options, liquid savings, and credit.

Liquid savings describes any money you have saved up in your savings account or at home. Credit can be good for you when that credit is high-quality with low-interest rates. Social networks like family and friends can help you find jobs, even odd jobs when you need them the most.


Another strategy for short-term finance is setting short-term financial goals you know you can accomplish. For a goal to be short-term, you must be able to achieve this goal within one to three years. Goals longer than three years are long-term goals and may not be possible when you are struggling financially.

When it comes to maintaining short-term goals, the first step is to make sure your goals are realistic. Ask yourself how soon you can achieve each goal and what concrete steps you must take. Then write all this down as your plan with a deadline for each step and goal. Look at your current financial situation to weigh the risks and benefits of each step.


Short-term financial steps may not always be enough to prevent us from bankruptcy. Do not hesitate to contact us at Tom Bible Law by dialing (423) 690-7712 to speak with one of our lawyers today. Our legal team of Tennessee bankruptcy lawyers can help you explore your financial options for bankruptcy. We serve clients in the Tennessee cities of Chattanooga and Tullahoma