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Tracy Edwards on Dealing with Redundancy

17th December 2013

Yachtswomen and motivational speaker, Tracy Edwards was devastated when she was left owing £8 million after the sponsors of a sailing event were unable to provide the money they had promised. However Tracy is now a life coach and tries to help others who have been in a similar situation to her.

Tracy was the skipper of the first female team to successfully sail around the world and has been awarded an MBE for her achievement. She discovered that she was bankrupt on her 43rd birthday, this resulted in her losing her home and she had to put her mother into care. Tracy is a single mother and she had to stay strong for her daughter while dealing with bankruptcy.

Refusing to let her financial situation ruin her life, Tracy went to University and completed a degree in Psychology and she saw this as her second chance. She has used her psychology degree to become a life coach and she helps people who are going through hard times financially or emotionally. When talking about bankruptcy she states ‘it’s not a crime and, although it might be a painful process, there will be lessons you can learn.’

The advice Tracy gives to people is the following:

Change- ‘Most of us are scared of change, even if our current situation isn’t what we want it to be. But making changes puts you back in the driving seat, instead of being a passenger.’

Do- Make a to do list but ‘don’t make lists too long and write your daily to-do list at weekends to set you up for the week.’

Deal-‘One of the first things we tend to do when we fail at something is to rip it apart to see what went wrong – this is a necessary and useful process.’

Have goals-‘Don’t set money-based goals…once we have enough money to live a comfortable life, happiness does not rise alongside all that extra money we earn on top.’

Succeed-‘It is easy to get carried away by success. But, if we are to repeat that success or improve upon it, we need to understand just how we achieved it.’

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