Having debt is really stressful. The pressure to pay as much as possible, to pay off balances to avoid paying interest – like yesterday – is huge.
Everyone hates paying interest, especially when we are already pushing to pay our bills even when we are cutting down.
If you owe money and are paying interest – and stressing about it – here’s what to do.
1. Take a Deep Breath. Breathe In. Breathe Out. It helps, really. And it’s free!
2. Make a plan. Lay out when your bills are due, what you need to do to pay them (what money has to come from what account and when) and set it up – either by making automatic payments or by putting it on your calender.
3. Look long term. Chances are, you can’t pay everything off today. But you can make a long term plan so that you know exactly when you can pay it off. This not only releases the stress of the unknown, it gives you major incentive to stick to a budget and figure out how you can cut your expenses while you pay down your balance and reduce the money that goes straight out the window on interest.
4. Feel better. If you do these things and pay very careful attention to the money you are spending you can relax. You are doing everything you can and you will get there. The act of being disciplined will boost your feelings about your self and your situation in leaps and bounds. YOU are taking action in the right direction. That means everything.
5. Enjoy something free. My all time favourite is going for a daily walk outside. Take the dog if you have one. And your kids if you have them. Try to get out by yourself sometimes. It’s an AMAZING way to destress and count your blessings. It will make you not only feel stronger – but be stronger. And it’s totally free.
If you need some more help, I have a few resources for you.
Making Change – my complete budget and money saving system.
