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struggling with debtThere’s no doubt that money creates stress, because, without money, people can’t eat, can’t pay their rent or mortgage, can’t have the things they want, and can’t lead the lives they desire. Another major problem arises when people choose to or are forced to live beyond their means because this results in accumulated debt that may seem impossible to pay off. Worse yet, carrying heavy personal debt like this causes a great number of negative emotions, including:

 

 

  • Anger and regret
  • Depression, hopelessness, and desperation
  • Panic, worry, and fear
  • Denial

Luckily, there are ways to manage both your debt and the unproductive negative feelings that accompany it, and the key to controlling the situation involves understanding the state of your finances and coming up with a plan to solve the problem.

Stop Denying and Face the Problem

Like many stressors, money, debt, and financial troubles can become so substantial that it seems easier to stick your head in the sand than face the problem. But you must force yourself to recognize that the denial tactic will only make things worse, because when you do resurface, your debt problem could be even bigger. The only way to resolve this is to stop lying and stop denying because you won’t come up with a solution until you can admit that there’s a problem.

Make a Plan to Address Your Debt

Once you admit you have a financial problem, you can start to come up with a plan to address it. This doesn’t mean you have to have all your debt paid off tomorrow, but it does mean you have to come up with a way to control your spending, create a savings plan, and determine a viable repayment schedule to get your debts under control or consider debt resolution. Once you have a plan in place, you will regain some control, and this will mitigate the stress, depression, hopelessness, and fear that you’re feeling.

Get Help From Others

Another way to help manage stress and fear is by talking about your problem. Whether you talk to a family member, close friend, or therapist, the simple act of expressing your fears out loud can be enough to help dispel them. However, talking to professional debt counselors will likely bring you the most relief, because they can provide expert and reliable advice about getting your debt under control.

Take Care of Yourself

Stress can compromise the immune system, so when you are stressed out it’s extremely important to take care of your mind and body. After all, the last thing you need when you’re in debt is a debilitating illness that knocks you off your feet, prevents you from working, and stalls your debt repayment.

You can take care of yourself by eating a balanced diet, exercising regularly, practicing stress relief techniques, and getting enough sleep. Not only will this keep your body in peak physical condition, but it will also help you manage the symptoms of depression, anxiety, and fear.

Forgive Yourself

Anger can be a natural reaction to stress for many people, so it’s not uncommon for people who are saddled with debt to be angry at themselves, and this causes them to lash out at other people in their lives, such as employers, families, and friends. The first step to overcoming this anger is to forgive yourself, which will alleviate any regret you feel and any misdirected anger you’re holding onto.

Heavy debt is a huge burden to carry, and it can have a negative impact on your physical and emotional health, your self-confidence and well-being, your relationships, and your family. Dealing with the stress of financial problems can lead to feelings of anger, depression, regret, panic, and extreme stress. But admitting the problem you’re facing and taking some small steps to reduce your debts will allow you to regain control of your finances, your emotions, and your life.

Visit this page to learn more about the debt recovery programs offered at A New You and discover how you can become debt free with a little help from our team.