Are you frustrated with your unsecured debts? If the answer is yes I know the feeling.
It is a horrible feeling to try to pay off the credit card. You do your best to pay off some of it and then when the interest is credited to your account you see the balance growing back again. This is really frustrating. I used to get angry, upset, frustrated, sometimes even physically sick. It is a terrible feeling.
It affects your professional and personal life. I was getting so frustrated that I didn't even want to go to the shops because I would get afraid of spending money. That is right, I used to be afraid of spending money.
Looking back now I must say that I had a good job, a good income and that I could afford the payments so I really did not need to worry about it. Unfortunately when you are involved in the situation, the tendency is to fail to look at the situation clinically and therefore you end up worrying too much about it.
What to do when that feeling hits you?
- Know that you can overcome the situation -This is actually very important, you need to have confidence and know that you can overcome whatever situation you are dealing with. Confidence is the number 1 issue you need to deal with. I believe that if you have the right attitude you can overcome anything.
There are many articles and blogs dedicated to the topic of encouragement. I personally like the approach proposed in the book The Science of Getting Rich. It is an excellent book with some practical advices on how to get rich. Personal encouragement is one of the first topics that the author addresses in his list of strategies for getting rich.
The author, Mr Wattles says that "To do things in the way you want to do them, you will have to acquire the ability to think the way you want to think. This is the first step toward getting rich"
Follow this link to read more about it.
The important point is not to loose the enthusiasm for getting out of debt, stopping looking at the past and look to the future knowing that you will overcome it.
Know that you are not defined by your past, so getting into debt has happened in the past, make the future different, if you keep the right attitude you are going to get you where you want to be.
- Create a plan of action - When you feel discouraged create a plan of action to get out of debt, if you already have a plan, review it to ensure that it is working and adjust any areas that need adjustment.
Creating plan of action for getting out of debt needs to include some basic actions. The first one being - stop using your credit cards. This is the first step towards getting out of credit card debt. It was only when I stopped using my credit cards that the balances started to go down.
If you are using credit cards to boost your cash flow then you need to correct the situation. This may be one of the most difficult actions. You need to either increase your income and reduce your expenses.
The following links will provide you some more information on each these steps
Increasing your income:
In summary, when you feel stressed about debt it is important to know that you can get out of the situation and to create or revise a plan of action. The advice is simple, stop using your credit cards, make extra money and reduce your expenses.
Technorati tags:
credit card debt, getting rich, making money, making money.
Technorati tags:
credit card debt, getting rich, making money, making money.
