How to Deal With Credit Card Anxiety
Come to terms with the fact that you have a credit card debt issue., Admit that you did a lot of things wrong and forgive yourself for it., Get a clear understanding of your debt status so you can make a plan of action., Don't let this get you...
Step-by-Step Guide
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Step 1: Come to terms with the fact that you have a credit card debt issue.
Once you accept this, you will be able to do something about it and the anxiety that comes with it.
You should also be honest with your spouse about the situation so that you can both come together to plan a way out of the debt.
Acceptance and honesty will remove the stress of hiding this problem and allow you to focus on fixing it. -
Step 2: Admit that you did a lot of things wrong and forgive yourself for it.
Debt has a way of sneaking up on you, one purchase at a time, but you are making those purchases.
Realize that you should have been smarter, but don't beat yourself up about it.
Make a promise to never repeat those mistakes and establish a plan to make it right. , Seeing your finances as a pile of credit debt is stressful, but if you lay it all out so you know exactly where you stand financially, you can tackle it better and create a budget that works to get your finances back on track. , Refocus and make a plan.
Ask yourself if this is something you can fix with your current income and a better budget.
If so, start cutting back, paying more principal than the minimum, paying off the smaller balances, and put a portion toward savings, no matter how small.
If your current income is not sufficient, you may have to get another income, or file for bankruptcy. , This is a necessity--not an option.
You want to put your credit cards on hold until they are paid off.
And then you need to learn how to use credit cards in a way that benefits you.
Watching your credit card balances decrease instead of increase will instill a sense of relief for you. , If you list your credit card and loan balances and record payments, you can see the amounts falling.
This is a motivating exercise that will help build your confidence, relieve your stress, and remind you of the fruits of your labor. , Take care of yourself by exercising and getting rest.
Of course as you begin to take control of your debt and come to the realization that there is actually a light at the end of your tunnel, you will sleep easier at night. , You have an objective and if you fall off the wagon, your stress level will only go up as your debt and level of guilt follow. -
Step 3: Get a clear understanding of your debt status so you can make a plan of action.
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Step 4: Don't let this get you down.
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Step 5: Start paying cash for purchases and not credit.
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Step 6: Chart your credit card debt management progress and watch the debt decrease.
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Step 7: Reward yourself as you watch your debt dissipate
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Step 8: but don't spend any money doing so.
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Step 9: Stick with it no matter how hard it gets.
Detailed Guide
Once you accept this, you will be able to do something about it and the anxiety that comes with it.
You should also be honest with your spouse about the situation so that you can both come together to plan a way out of the debt.
Acceptance and honesty will remove the stress of hiding this problem and allow you to focus on fixing it.
Debt has a way of sneaking up on you, one purchase at a time, but you are making those purchases.
Realize that you should have been smarter, but don't beat yourself up about it.
Make a promise to never repeat those mistakes and establish a plan to make it right. , Seeing your finances as a pile of credit debt is stressful, but if you lay it all out so you know exactly where you stand financially, you can tackle it better and create a budget that works to get your finances back on track. , Refocus and make a plan.
Ask yourself if this is something you can fix with your current income and a better budget.
If so, start cutting back, paying more principal than the minimum, paying off the smaller balances, and put a portion toward savings, no matter how small.
If your current income is not sufficient, you may have to get another income, or file for bankruptcy. , This is a necessity--not an option.
You want to put your credit cards on hold until they are paid off.
And then you need to learn how to use credit cards in a way that benefits you.
Watching your credit card balances decrease instead of increase will instill a sense of relief for you. , If you list your credit card and loan balances and record payments, you can see the amounts falling.
This is a motivating exercise that will help build your confidence, relieve your stress, and remind you of the fruits of your labor. , Take care of yourself by exercising and getting rest.
Of course as you begin to take control of your debt and come to the realization that there is actually a light at the end of your tunnel, you will sleep easier at night. , You have an objective and if you fall off the wagon, your stress level will only go up as your debt and level of guilt follow.
About the Author
Diane Flores
Experienced content creator specializing in crafts guides and tutorials.
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