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you are here: DentalPlans.com > Dental Health Articles > Money > Stop Debt Stress
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Updated: 11/13/2008 4:00:19 PM |
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 (ARA) - Stress is like a silent alarm going off inside your body. When you begin to total up your debt your body reacts to your stress. Your heart races, you begin to panic and you feel trapped.
In just the last year alone consumers have made more than 2.2 trillion dollars in purchases and cash advances on their credit cards. What is even more startling is that most consumers don't have the money to pay their credit card bills. According to the public policy research firm Demos, credit card debt grew by 315 percent from 1989 to 2006.
Academic scholars and business experts joined to write a report on the connection between debt and stress. The results were shocking - 1 in 4 of American workers are stressed out over their financial circumstances. Being stressed over debt only compounds a bad situation. It was noted that stressed workers are least likely to perform well on the job because they are constantly reflecting on their poor financial standing instead of working.
How to deal with Stress and Debt
The most important thing that you can do to relieve your stress is to confront the problem. In the end though, this will cause you to create a plan that will start the process of paying back your debt. Talk with your spouse about how you will begin to pay back the money; don't use your credit cards and speak with a financial professional, such as a credit counselor at Consolidated Credit Counseling Services, who can answer the questions you might have regarding personal loans, credit card bills and the time you have to pay them back.
Make a commitment that you will pay at least the minimum amounts on the bills you owe -- set goals for each bill that you are paying off. It may seem like it will take forever but at least you are committed and now you are in control. It will make you feel much better and much less stressed.
Many people equate debt with failure and this produces more stress. Remember, if you make a plan to manage your debt and begin the long journey back to financial freedom you will also be relieving your stress. Learn from your past, stay away from the things that are the source of your stress.
Most importantly don't think of the worst case scenarios, which some in the medical field call "catastrophizing." Your body does not know the difference between what you are imagining and the reality of the situation, so when you do this you are only causing your body to produce more adrenaline, which in turn generates more stress. Stay positive and stick to your plan -- and don't forget to congratulate yourself when you reach a goal.
You don’t have to walk this path alone. Consolidated Credit Counseling Services offers a variety of resources and budgeting tools to help consumers get out of debt. Visit www.ConsolidatedCredit.org to receive a Free Budget & Debt Analysis and take the first steps to managing your debt.
Copyright © 2008, ARAnet, Inc.
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