If you spend your days reading most personal finance blogs including mine, these blogs have the ability to make it seem easy to get out of debt. Well I am here to tell you that it’s far from easy to get out of debt, and at times you will feel like giving up. Well at least for the first couple of months. Below are five tips you can use to help combat your negative emotions while paying off debt.
Accept that it’s going to take time to get out of debt.
Most likely you didn’t create this debt overnight, so it’s very important for you to accept that it is going to take time to get rid of your debt. Many people look at their debt and can’t imagine how they are going to be able to get rid of it. In fact when many see the BIG NUMBER (total sum of debt), some will decide to ignore it and rationalize that debt is normal and choose to live a life buried in debt. Once you accept that it’s going to take time and hard work to get out of debt, it will make the journey so much easier to handle.
Focus on the big picture of life after debt.
Once you begin the journey to becoming debt free, anxiety will try to sneak up on you especially during the times when you feel the effects of the sacrifices needed to save money or pay off more debt. It’s during those moments when you need to remind yourself of how wonderful your life is going to be, once you become debt free.
Find a system or person for support.
You may wonder why I’m including finding a system vice recommend just a person to rely on to give support while going through your financial transformation. Having a person to be accountable or a shoulder to cry on when things get hard during the process is great, but you can also find other ways to help keep you accountable and motivated. For me it was creating this blog and utilizing the PF Bloggers as my support system. For others it could be utilizing online tools that track all your expenses or hiring a personal financial advisor.
Create mini rewards for yourself to stay motivated.
Sticking to a long-term budget can be tasking at times, and it may take some time to learn how to spend less or live with less during the process. Giving yourself mini rewards for small milestone while on the journey, can help you stay motivated, and give you the opportunity to reflect on your progress.
Know your trigger points to stay clear of making financial bad decisions.
Just like any addict it is important to know your trigger points to stay clear of making a bad financial decisions. I am a recovering emotional shopaholic. Whenever I am having a bad day, or going thru a difficult time in my life, the one thing that made me feel better is shopping. I had to learn how to resist the urge to shop when I am an emotionally mess. Get to know yourself and steer away from making a bad financial decision that you will later regret.
What are ways you deal with your emotions while on your journey to become financially fit?