Do you know the emotional consequences of debt

Just imagine, one day, you realised that you have too much debt. What will you do? Hide or seek help?

We share an emotional relationship with money.  Just the thought of soaring bills, overdue payments and fines, if one cannot pay on time, all of this will create in our mind a battlefield of negative emotions and drive us up the wall.

Self -Esteem takes a beating due to the thoughts of not being able to fix the problem and the guilt and shame one feels that all of this is due to their own wrongdoings.

Stress is a major problem by modern-day people. Like the stress due to worrying about debt, the consequences of what would happen and the fear of going to jail. These continuous thoughts will really disturb the person psychologically. Anxiety, loss of appetite, stress related illnesses, lack of sleep are some of the signs of what stress can do to a person.  

The painful consequences of not able to handle debt are the emotional walls it will build within our relationships.  Irritation and anger starts to affect how we speak and behave with our loved ones. Sometimes, family members will also share the sentiments, like frustration and shame. There are even times when we will blame each other for the misfortune. Arguments, complains and blames will bloom out of the blue. People involved will surely feel the pain of the situation. A family can be divided, or a friendship may crack down. Worst, untoward cases of inflicting deeper degree of pain will be the consequence.

We cannot change the past, but, certainly we can change our future.  Depending on how serious our issue is, visiting a counsellor or getting professional help from a debt management company or working with a financial coach who could hold you accountable in taking those positive steps towards being debt free are helpful.

When I work with my clients, we first work on what is our relationship with money, our money story and dive deep into a transformation and renewal of mind so that we can operate from a balanced state of mind and then work on a customised plan of action towards managing finances and getting debt free.

If you are in a situation where debt is beating you down its time to shake things up, get a plan of action and like a ninja work towards slicing down your debt.

Margaret Mekaat

Margaret Mekaat

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