It's no fun being in debt.
Money shortages are always stressful and serious debt can
emotionally drain you.
And yet, while you'll find lots of advice about the
practical aspects of debt management, there is precious
little help available for the psychological side of things.
Negative feelings like fear and anxiety need to be dealt
with before they start to overwhelm you. So here are some
self-help tips on how to deal with this challenging period
in your life:
Count Your Blessings
It's only money.
Now that's probably the last thing you want to hear right
now, but it's true. If your only problem in life is lack of
money then count yourself lucky.
Losing your money isn't like losing a loved one, or being
diagnosed with a terminal illness,
Money problems can be solved.
Your own spending behavior is at least partly responsible
for creating the problem.
So stop blaming the credit card companies for 'pushing' the
debt drug onto you, the poor helpless victim.
And that simple act of accepting responsibility will empower
you and propel you towards right action.
When you're digging yourself into a hole, the first thing to
do is... stop digging.
Perhaps. But when someone realizes the sheer horror of
serious debt, it's almost a natural defense mechanism to go
into denial mode.
And one common method of denial is to continue spending and
borrowing more money.
Rip up the credit cards. (Don't worry, you'll survive fine
And remember that you need exactly four things in this life:
food, water, (basic) clothing, and shelter. Consider
everything else a luxury.
You Are Not Your Money
Sadly nowadays, money buys status. It's easy to believe
that your value as a person depends on the value of your
Nonsense! You are a unique individual with many special
qualities. There will never be anyone quite like you ever
again. You're wonderful! You're terrific! And your
character and personality are not a product of money.
Plus.. does it really matter what other people think of you?
Well that depends on what you mean by 'people'...
Quite often they are "acquaintances"... or anonymous
strangers you pass in the street who may admire your latest
designer suit... or shop assistants happy to sell you
another expensive item of jewelry.
Are these people really important to you? Of course not.
Focus on the folks close to you who really matter. True
friends and family don't judge you by your wealth.
Grab The Opportunity
Life's problems are nothing more than tremendous
opportunities for personal self-growth.
Ask yourself what you are learning from being in debt. Is it
a humbling experience? In which case, is it really such a
bad thing to discover what it means to be human?
Perhaps you are learning compassion for other humans, and
beginning to see the beauty in other, 'ordinary' people.
And if you've lost your job - a common cause of debt
problems - then look on it as an opportunity for a new start
in life. What would you love to do - instead of just making
As you may have realized, being in debt is not all bad news.
Viewed as opportunity for self-growth, it can be the turning
point on the road to true 'riches'.
Paul Davis writes for Debt Elimination 4U, showing ordinary
people how to get out of debt and stay out! Visit the site
send feedback to: email@example.com.