Money is the dictator of almost every aspect of our lives. It tells us what we’re going to wear each day, what we’ll drive or not drive, where we’ll live, and how we’ll eat. It controls the activities we do, and to a certain extent, who we are friends with, and who we end up in a relationship with. Landing yourself into financial debt is terrifying. It changes your whole life.
Being in debt is a very scary place to be. It can make you feel completely, and utterly hopeless. People can get into debt in many different ways. Sometimes, they have hospital bills that they can’t pay off. Other times, the person might have gone on elaborate shopping sprees or vacations that were out of their spending means. Or, a spouse might have gotten divorced and is staring at a mountain of court and lawyer fees that they have no idea how they are going to pay. If you are in debt, the first thing you should never do is beat yourself up. You should certainly not congratulate yourself, but life happens.
Just about everyone that experiences debt goes through the denial stage. The important thing, is to not dwell in this stage. Otherwise, it is very dangerous. It isn’t healthy to dread your financial state every second of every day, but do not ignore that you are in trouble financially and keep on spending. While it is very scary to log into your bank account and see just how much debt you are in, you’ve got to bite the bullet and look. This is the only way you’ll be able to come up with some kind of plan. If you put this off, you could end up in bankruptcy, foreclosure, or in collections. You can’t ignore the law forever.
Usually when a person is in debt, they begin to have serious sleeping, eating, and relationship problems. Some people hide the current situation from their partner or spouse. Friends become confused because the person in debt usually is too ashamed to talk about it.
If you are currently in debt, what you need to do is get well mentally. Accept that you are in the situation; before you accept it, you cannot begin to recover from it. Ask yourself how you are going to create a plan, then write that plan down. It is going to take a while to get out from under the financial mess, and you’ll go crazy if you don’t remain emotionally stable throughout that time.