When you are juggling the bills, credit card debts, mortgage payments, and daily life expenses, your patience and health can wear thin. Sadly many people at the brink of illness don’t even realize they are headed for disaster outside of a financial one.
Stresses of debt can take a large toll on your life and relationships and can actually lead to more debt. When you are depressed or worn thin, you may be prone to making decisions that are not in your best interest. You can also wind up owing high medical bills you can not pay because your debt stress ended you in the hospital.
There are ways to conquer the stress that accompanies debt and you can start to get back on track and relieve the depression debt causes by making these moves:
Step Up to the Plate
Face it, there is no way to get rid of debt except to deal with debt. Gather your bills and spend the time it takes to find out exactly how much you owe and who you owe it to. Calculate your available income and start working on a budget where you devote as much money as possible to paying down debts. Immediately stop spending more than you earn and make a commitment to finding ways to save more each month.
Seek Professional Help
Sometimes the burden of debt can leave you feeling very alone and ashamed. There are many new options for debt counseling and consolidation companies out there. Do some internet research about which kind of program you qualify for and get on the phone for an appointment. Talking with an experienced debt counselor can take some of the weight off of your shoulders simply because you no longer have to be alone in the situation and because help is on the way.
Do Something Extra
Psychologically it can help to go the extra mile to solve your debt problems in a shorter period of time. For instance, take on a part time job or do odd jobs for others to earn additional cash earmarked for your debts. It may be difficult to do the extra work but as you begin to see your debts decline, you will feel better that you have been working to do their right thing.
Ask for Help
Again, as embarrassing as it can be to have money issues, understand you are not the only one. About 43% of American families spend more than they earn. In light of the recent foreclosure crisis, people are starting to see that debt is becoming all too common a theme in families. Let family and close friends know that you can not afford to go out to eat regularly or buy expensive gifts. You may be surprised at the outpouring of help you receive from those who love you.
Take Care of You
Regular exercise and eating right is necessary for all human beings. When things seem too overwhelming, learn to take a brisk walk to clear your head. Don’t wallow in front of the television thinking life as you know it is over. In fact, consider that a new life has just begun as you emerge from debt and find a better way to deal with your finances and avoid all financial stressors in the future.