How to Stop Stressing Over Debt: If you have a lot of debt, you likely have a lot of stress. You also have a lot of company. A recent Lending Tree survey found that the average U.S. household with at least one kind of debt owed more than $144,000. What’s more, one quarter of Americans fret about money “all the time.”
Neither debt nor stress is good for you. In fact, stress can cause health problems that can lead to medical bills, which can lead to more debt. Here’s how to stop stressing over debt.
It may be the last thing you want to do, but you really do need to grab your debt by the proverbial collar — and look it square in the eye. Open those credit card statements you’ve tossed aside and see exactly what you’re dealing with. Get out a pen and some paper and start adding up your debts as well as your various interest rates.
You also need to confront what got you into trouble in the first place. Before you attempt any financial strategy such as debt consolidation, make sure your spending habits are under control. Otherwise, you’ll find yourself back in the same situation.
Once you do all that, you can call Freedom Debt Relief. The nation’s leading debt settlement company can help you clear your unsecured debts – credit card balances and the like – and get you a fresh start. You truly do need professional help from a company you can trust.
If you accept that you feel shame about your debt, that does take away some of the stings. You can start by thinking about where you learned your money management behavior and attitudes. If you’ve been, perhaps subconsciously, modeling what your parents did, then give yourself a break. Acclaimed poet Maya Angelou famously said, “Do the best you can until you know better. Then when you know better, do better.”
Own Up to the Responsibility
Yes, you can cut yourself slack AND accept responsibility for your big debt load. The two are not mutually exclusive. In fact, owning up to what you did — or didn’t do — to put you in debt can ultimately lead to success, since you’re getting at the root of the issue.
You should get support from a reputable financial advisor to help you create a budget that will provide clarity and motivation, as well as the sense that, in the long run, everything will be okay. All you must do is stick with the program.
A financial services non-profit, credit union, financial planner, or CPA can help get you going.
Understand That All is Relative
It’s important that you keep your debt in perspective. Ask yourself, what’s the worst that can happen? While your debt can’t kill you, stress can. If you’re living and breathing, you can get out of the situation you’re in. And it’s always good to remember: your self-worth is not your net worth.
Know That Money Isn’t Everything
Even amid tons of stress, it’s vital that you give thanks for your blessings. This will help you stay grounded and optimistic. And be certain to give yourself credit for the progress you’re making as you work to clear them. You should also treat yourself to something you enjoy.
Now you know how to stop stressing Yourself. The key is to take stock of your situation, practice self-care, and enlist the professional help of a reputable debt settlement company such as Freedom Debt Relief. Get started today.