Self Help When You're In Debt
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.
-- Accept Responsibility
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.
You're responsible.
And that simple act of accepting responsibility will empower you
and propel you towards right action.
-- Stop Spending
When you're digging yourself into a hole, the first thing to do
is... stop digging.
Obvious?
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.
Just stop.
Rip up the credit cards. (Don't worry, you'll survive fine
without them.)
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 bank balance.
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 money?
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'.