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Bouncing Back from Financial Grief and Loss: Resilience and Financial Grief

By Dr. Julius Babyetsiza1*, Dr. Edward Lambert, PhD1 & Dr. Freddy Frejus, PhD1 1 Atlantic International University, Honolulu, HI 96813, USA. * Author for Correspondence ORCID ID: https://orcid.org/0000-0001-8886-3772; Email: bbytsza@gmail.com. Article DOI: https://doi.org/10.37284/ijar.6.1.1572 / 2023-12-18

ABSTRACT

The paper explores insights of resilience and financial grief and what stoic classical philosophy offers for buoyance in adversity. Entrepreneurs and Innovators should develop strategies to cope with financial setbacks effectively. This study adopted phenomenological approach, including the lived experiences of the researcher, and delving into the teachings of stoic philosophers such as Seneca, Epictetus, and Marcus Aurelius, providing a framework for building resilience and navigating financial grief. The study found that financial grief and loss are undeniably painful, but not insurmountable. The teachings of stoic philosophers, such as Seneca, Epictetus, and Marcus Aurelius, provide a framework for building resilience and navigating financial grief. Bouncing back from financial grief and loss requires a combination of resilience, support, proactive planning, and adaptability. The study also observes that by acknowledging our emotions, and developing practical coping strategies, individuals can navigate financial grief successfully. One of this study’s contributions is learning that stoic philosophy has valuable insights of remaining buoyant amidst adversity. The stories of resilience showcased in this study served as a testament to the human spirit's ability to triumph over adversity, offering hope and encouragement to those on their journey to financial recovery. The study revealed that COVID-19 pandemic has taught us that financial grief is a shared experience, transcending borders, and cultures. As we move forward, it is crucial to remember that tough times are temporary, but the strength and resilience we cultivate endure, enabling us to emerge stronger, wiser, and more prepared for the future.

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