Financial stress: 5 ways to avoid debt depression

Stress comes in different forms and can manifest itself in many different ways, however at the end of the day, the most common causes of anxiety and daily stress are usually related to health problems, family related problems and financial issues. Some people take on debt to meet academic goals and obtain degrees; other for […]

Stress comes in different forms and can manifest itself in many different ways, however at the end of the day, the most common causes of anxiety and daily stress are usually related to health problems, family related problems and financial issues.

Some people take on debt to meet academic goals and obtain degrees; other for health reasons and some solely for the purpose of purchasing products and living outside their means. However, there is an important and common background in all cases: the psychological impact that indebtedness can cause. For some the stress becomes so inherent that they may reach out to the debt relief company in an attempt to less their debt burden and acquire help from financial experts.

Financial stress can trigger severe symptoms of depression, anxiety and other health problems in many people, regardless of age or socioeconomic status. The anguish derived from this leads to diminished productivity and a feeling of angst.  The general well-being of many individuals in these debt situations can become alleviated when they acquire credit card debt help, simply because they feel a weight has been lifted off their shoulders in having a debt relief company handle their finances. On some occasions, if your credit card debt becomes too burdensome this is really the correct move to make. Otherwise, individuals are bound to remain in a state of mental saturation—where repetitive thoughts on how to obtain extra money abound and intrusive ideas on how to settle credit card debt continuously ruminate.

The good news is that learning to deal with money-related stress is possible, as long as we adopt a realistic stance of our economic situation and are willing to implement measures to optimize it. Here are some practical and easy-to-implement recommendations to prevent financial stress from making our lives bitter.

Identify the cause of your debt and cut it at the root

This applies especially to people who turn out to be indebted for reasons that could be avoided, or for the compulsive acquisition of unnecessary items and products.

Of course, the reasons behind this behavior are not superficial at all; in fact, they usually occur due to deeper and hidden underlying mental health issues. Perhaps the reason we spend more or invest money in things we don’t necessarily need is because we are making a futile attempt to fill some emotional void, feel more comfortable with our body image or build an external appearance that makes us feel comfortable with others.

Take responsibility for your expenses

Dramatizing things or victimizing ourselves by decisions that we ourselves have made only worsens the symptoms of anxiety and depression that we might experience due to indebtedness. Our first step should always be to acknowledge the issue at hand and understand that if we change our behavior anything can be repaired.

Choose to be more organized

Many times, the main cause of people’s indebtedness is the tendency to evade the process of expense planning. Credit cards make spending so easy (especially online). All we have to do to make a purchase is type in our credit card info and boom we are delivered products to our home. The tendency for people to feel inadequate or lacking runs rampant in society today. One solution may be to accept what we are and what we have and feel content with that. Otherwise we may prefer to buy compulsively without stopping to look at our bank accounts, the status of our credit cards and our overall monthly balance sheet.

Don’t just think about cutting spending, identify opportunities to earn more money

If you focus on all the money you must spend to meet basic needs and life essentials, you will miss out on the opportunities already out there to generate more income. The same happens if you invest all your energy in tormenting yourself because of the debts you currently have.

The smartest thing is to always focus on solutions and not on problems; otherwise, we end up digging ourselves deeper into depression. So, whatever happens, keep calm, do not panic and observe everything through a clear frame of mind and with that we can allow ourselves to look beyond our problems and look into the future.

Set priorities

If you are carrying significant credit card debt, odd are you don’t really need to keep an amazon wish list—just delete it entirely. Sometimes it’s best to not be tempted and be grateful for the good in our life (but that is much easier said than done). We all have flaws and desires. We all long to achieve our goals and lead meaningful lives. We all like having luxury goods and indulging ourselves sometimes—but there has to be a hard limit and sometimes we really have to re-order our life priorities altogether.

In conclusion, understand you can do anything you put your mind to! If you need help with credit card debt you need to educate yourself financially and understand your root cause of the problem. Understanding leads to healing and eventually your new-found financial health will lead to increased mental health and an overall less convoluted life.

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