Thursday, September 21, 2017

Embrace Responsibility - Don't Fight It

No one likes to be in debt – it’s a simple fact. The trouble is, most of the stress that comes from being in debt comes from panicking, worrying and generally fighting the debt that is there. No one will want to welcome debt with open arms, but that doesn’t mean you can’t look at your debt as something to manage, rather than something to fight.
Life comes with a lot of stress and for some, debt attributes to that stress. Debt often equals lack of money, lack of disposable income and lack of trust from companies who won’t lend to you. This can cause feelings of sadness, misery and suffocation as you think about how buried under debt you are. This is absolutely the wrong way to handle the debts that you have. All you’re going to do is upset yourself and make life feel a lot harder than it has to be. Accepting the debt that you have, embracing how to manage it and living WITH the debt as it decreases can be far easier than fighting it.

A good place to start to learn to embrace the debt you have is to go ahead and make a list of every creditor and amounts that you owe. Using spreadsheets to have a visual of each debt can also help, as you can see where exactly you owe money, and who is the most urgent to pay. By doing this, you can learn to prioritize which debts need your immediate attention and bring some order to the chaos. Checking out websites like to find the best cards for balance transfers and 0% interest can also help you to shift some debt to make it more manageable. Some people like to pay all their debts with a credit card or loan and have one simple repayment per month instead of four or five creditors.

Staying calm when facing debt is important. You should never be pressured to pay more than you can afford, and contacting creditors to make minimum offers should be accepted. As long as you are acknowledging the debts and paying something towards them, you can start to account for them in your budget. The small repayments that you make all build and as your income is increased or changed, you can change how much you pay for each one. Fighting the debts that you have by burying your head in the sand and shying away from them will not help. All that will do is add more to the amount you owe in fees, late charges and interest. This can do nothing for you but cause more panic than necessary.
It’s important to remember that you are in control and if you can come out of the red fog of panic and walk alongside your debts with confidence, it won’t be very long until you are debt free and out from under the spell. Take your time and think clearly; life won’t always be full of debts!

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