Financial Recovery
Financial recovery refers to the process of restoring an individual's or organization's financial health after experiencing economic difficulties. This can involve paying off debts, improving credit scores, and creating a budget to manage expenses effectively. The goal is to regain stability and ensure long-term financial security.
Strategies for financial recovery may include seeking assistance from financial advisors, utilizing debt management plans, or exploring bankruptcy options if necessary. Individuals can also focus on increasing their income through side jobs or investments to help rebuild their financial standing and achieve their financial goals.