There’s no doubting that debt can lead to a mountain of stress in your life, one that you wrack your brain trying to surmount every day. Just as you have to figure out where to get the best deals and prices on everyday necessities, you also have to figure out how to deal with the stress triggered by your debt; otherwise, you may not realize just how far your debt is impacting your mental and emotional wellbeing until it’s too late.
Acknowledge Debt for the Problem That It Is
Rather than dance around it, admit to yourself that your debt is a problem. The sooner you do that, the sooner you can start to develop a strategy for dealing with your problem. Even if you’re just thousands of shillings in debt as opposed to tens of thousands of shillings, that small amount of debt may still be keeping you up at night. Another reason to treat a small amount of debt like the problem it is is so that it doesn’t have a chance to snowball into a massive amount of debt when you aren’t looking.
Realize the Value You Place on Money
Your relationship with money is why you’re in debt. Maybe you like to buy brand-name clothes and products, or perhaps you constantly find yourself with more money going out than you have coming in. Write down the value you place on money as well as how you use it, then write down how you can improve that relationship so that it becomes a healthy and balanced one.
Take Steps to Protect and Build Your Physical Health
Stress doesn’t just impact you mentally and emotionally, it can trickle over physically as well. If you’ve noticed that you’ve been getting sick, have headaches, have broken out into a rash or don’t sleep as well as you used to, it could be your stress that’s causing it. Take some time to tend to your physical stress symptoms so that you can remain clear-headed and healthy enough to give controlling your debt your all.
Stay Away From Money When You’re Feeling Down
It could be that you spend money when you’re in a bad mood in the hopes that doing so will make you feel better. While you may get the relief you need, it could come at a cost in more ways than one. Rather than experience the temporary satisfaction that comes with buying something new, you’re much better off sitting down and examining why you’re down in the first place and what you need to do to address the root of the issue. Rather than buy a new shirt because you didn’t get a promotion, you’re better off figuring out why you didn’t get the promotion and what you can do to improve your chances next time.
Maximize Your Self-Control
One of the very first things you need to learn how to do to get your spending and debt under control is controlling yourself. You know what your spending triggers are, and you know where you’re likely spending too much money. Learn to remove those triggers from your day-to-day life as much as possible and how to cut down on your spending. Just like an alcoholic or drug addict in rehab, you have to develop healthy new habits that will keep you from relapsing. Spending a couple of shillings here and there on coffee over the course of a few weeks can seriously add up at the end of the month. Make your own coffee at home and see how much that saves you.
Having money and spending money should bring you peace, not make you feel ill at ease. Be sure to devote some time and attention to addressing any stress you may feel about being in debt.
Adopted from Personal Finance Journey