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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 behaviour 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 defence 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 jewellery.
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 realised, 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'.
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