Stressful Debt

Speaking of debt, don’t fret because you are not alone in this battle! DEBT can be overwhelming to realize that this has gotten over your thoughts, and the stress of thinking that you may not be able to pay it. The key to RESOLVE the problem is NOW! Procrastinating the problem may only lead to deeper anxiety. Taking charge early on will get you on the path towards a better financial future.

Here are some circumstances that indicate debt it has become a problem:

> Bills piling up over the previous month’s unpaid ones.

> Paying late payment fees.

> Avoiding to open bills when they arrive.

> Delaying to balance your checkbook.

> Bounced checks.


To recognize the problem, you should know how much you actually owe. Some people don’t and try to avoid, even in denial of the current problem. Start making a list of everything you owe: mortgage, credit card, loans, or even money borrowed from family or friends. Write down:


– The lender’s name

– The amount you owe

– The term of the loan

– The interest rate and fees


Then sum them up. Looking at the numbers can be worrisome, but this is a positive – and necessary – first step to tackling your debt. Paying the minimum required amount and due date on all your debts will help you save from charges/fees.


Now that you have analyzed your debt situation, it’s time to look at your monthly budget and set realistic goals. That trip you had planned for quite some time, or the new car or house you were hoping to buy may not be in the cards right now given your new outlook on reducing your debt. Some luxuries may need to take a back seat while recovering from your debts. Practice being frugal – weigh your “needs” from the “wants”. Once you recovered from the debts, you can swiftly re-plan what you have put on hold while struggling with your funds.


Reducing debt is like losing weight. You’re not going to lose 50 pounds in a month – you need realistic goals in reasonable timeframes, and debt works the same way. For most people, it takes years to become debt-free. This doesn’t mean you have to stop enjoying your life. It’s just a reminder to live within your means and be diligent about adjusting any spending habits that have contributed to the situation you are in today. Dedicating yourself to paying off what you owe and becoming debt-free will be worth the wait, with the payoff being a brighter financial future. After all, life without financial worries will put you in a healthier perspective, and enjoy life as it is! Happy and stress free!

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