Debt can be one of the most stressful things that a person can carry on their shoulders. The bills can continue piling up as the interest builds and builds. Before you know it you’ve given yourself a heart attack just wondering how you’ll ever pay it off.
Next to starting a new job, moving, and divorce, debt is one of the highest impacts on a person’s stress levels. While in this modern age the amount of your debt truly has a hold on how you function in society, it doesn’t have to take over your entire life.
Sure you may be stressed, and the numbers may seem overwhelming. But close your eyes and breathe. By practicing gratitude instead of allowing ourselves to become overrun with negative emotions we can overcome anything.
Try these simple strategies for taking control of your debt stress, and feel the tension start to lift itself.
Set Up a Debt Schedule
Open your calculator and add up all of the debt that you have. Calculate the amount of money that you can contribute each month to towards the credit card that you owe money to, and divide that by the amount you owe. This way you can see exactly how long it will take you to pay your debt off.
If your debt is particularly bad, consider entering a debt consolidation program where professionals can help you set up a strategy to paying your debts off.
Put Away Savings
Putting away an amount of money several times a month no matter how small is a great way to build a lump sum of money into paying off your debt. Imagine if you saved $3 a day, that means simply not buying a Starbucks, you could save $1000! Pretty scary when you think of it like that isn’t it….
Step Away From Your Problems
Sometimes the best solution to face your problems is to step away from your problems. By taking a breather and remembering that you are not the sum of your problems, you can bring down your stress levels and return to a calm state.
Panic sets in when we allow ourselves to become engulfed in feelings of helplessness, and as if nothing we do can make a difference. If these feelings of panic start to creep up on you about your debt, stop what you’re doing immediately. Take a deep breath, close your eyes, and change your environment. Change rooms. Go outside. Take a shower. Whatever it takes to snap you out of that mentality.
The more tasks that you take on, and the more occupied that your mind stays, the more productive that you’ll feel towards paying off your debts.
If we stay still and do nothing, the stress will only increase.