Credit is easy and we live in a time like no other whereby we can buy what we want when we want regardless of whether we can truly afford it and it is because of this more and more people are finding themselves getting into debt.
Debt can make you feel like you are rapidly sinking into a pit of quicksand with no way out and it is this feeling that overwhelms some to the extent that they will do all they can to avoid admitting that they need help, whether this be ignoring debt recovery letters or even worse, obtaining credit from elsewhere
Health implications of debt
What can you do to deal with your debt
- Take stock of your spending – are you buying items that you need or items that are nice to have
- Communicate with your creditors – if you can’t afford to pay your debt in one payment, contact your creditor and make an offer of affordable monthly repayments, you might be surprised at what they will accept.
- Consider whether you can pay off more than the minimum payment on your credit cards. Interest is the hidden or not so hidden evil.
- Look at other ways to earn an extra income – can you sell unwanted items on ebay? Is a second job out of the question? Can you monetize your knowledge or skills, can you start a blog?
REMEMBER THAT DEBT DOESN’T DEFINE WHO YOU ARE, SO DO ALL IN YOUR POWER TO RELIEVE THE BURDEN OF DEBT AND START LIVING YOUR LIFE THE WAY THAT YOU WANT.