How to stop feeling anxious about debt
I have not been in debt very often in my life. 3 times that I can recall. Once as a student, once when I had l helped somebody out of a pickle and once over a large bill.
The problem with debt
I hated being in debt.
By debt I don’t mean just £100 overdrawn I mean big figures that give you bead dreams and make you worry over which cereal you buy. Debts that are big enough to make you not do a weekly shop but then order a takeaway you can’t afford because you are hungry and the price is a mere drop in the ocean compared to what you owe.
This kind of anxious debt can make you feel scared all the time. It can hover around and even when you are reading or chatting about a film or working and trying to take your mind of it. You just can’t.
People can do really stupid things when they are in debt, not because they are stupid ,,,but because they are panicking. Debt often results from accidents, illness, loss of work, addiction and sudden unavoidable expenses. It often occurs at exactly the time people aren’t thinking straight and so panic sets in.
The worst thing you can do when you face a large debt is to borrow from the easiest source possible. Payday loans for example need to only be borrowed by people absolutely certain they can repay them not by someone in a crisis. Borrowing off family and friends in the heat of the moment may also not be the wisest move. May a relationships has been damaged by money being borrowed.
How to reduce debt anxiety
What is needed in the face of debt is a solid debt management plan as well as a cool head and some support from good friends. So if you are in debt, tell people you trust, make a plan, eat well and sleep well. Prioritise taking care yourself. Bad decisions can be made under stress.
Manage the stress to manage your debt.