how to stay positive when you're in debt

How To Stay Positive While Paying Off Your Debt

It can be so challenging to stay positive when it comes to paying off debt!

In fact, most people who face debt repayments feel a sense of shame and upset. I know I felt like that when I left university with a load of debt. I was living in my overdraft (which I had maxed out) and it felt like I was never going to get back in the black! 

Eventually, I worked hard and put every penny towards my debts and I finally dug myself out of my overdraft and I’ve not been back in it since!

I can’t imagine being back there now and having all those added stresses like supporting a family and paying your mortgage or rent. 

The fact is that it can be the smallest upset in life that has a significant impact on your ability to pay. Missing one payment, then two, and suddenly you’re deep in the rabbit hole. But, there are ways to stay positive while you take care of any debts you have.

Remember you’re not alone

The first step is to remember that almost everyone has some amount of debt somewhere and that you are far from alone in this.

You will find a whole world of support online, with tips and trick to speed up your repayments, and templates for letters to help you reach out to your creditors and arrange new agreements terms, freeze your accounts or even wipe the debt entirely.

Look at how far you’ve come 

Always focus on the progress you’ve made rather than the money that you still owe.

Although initially, you might feel a little disappointed in the dent you have made in the amount you owe, you should feel proud that you have tackled it head on and no matter how long it takes, you will make progress each week or month.

Think about your future goals & plans

Writing down some goals can really help you stay motivated.

Although you might be looking at years before you will have paid everything off completely, that doesn’t mean that you can’t have something in mind for when you have more disposable income.

For example, once you have paid everything off, imagine the holiday that you could save for? Or perhaps you want to save towards or mortgage, a new car, or maybe something smaller? 

Celebrate small wins but watch your spending

It is not illegal to treat yourself at the same time as paying off your debts! Just remember, everything in moderation. If you think you’re going to start racking up more debt, then really think about this one. 

It is perfectly okay to treat yourself within reason, like that Friday night pizza for example.

Having debt doesn’t make you any less entitled to the fun or nice stuff in life, it just means you have to be a little bit more mindful of what you spend and how. 

Just make sure you keep track of those numbers! When you sit down to go through your debts, see how much you can put towards paying on top of the minimum payments.

This is obviously more important than that pizza and will start hammering the debt down much quicker. Each time you reach a milestone though, then do something nice to celebrate.

Watch your favourite movie, treat yourself to a coffee, something small that will keep you motivated. You might find that you would be better checking out to help merge your debts and potentially save on additional interest. 

Final thoughts on staying positive while paying off your debt

You are not your debt. It does not need to be on your mind every waking hour. If you find it is too much, then it might be time to seek some advice from a debt helpline.

They can help you set up payment plans and talk to creditors on your behalf should you need it. High levels of stress are harmful to you, so try and make sure you are taking care of yourself. 

If you are taking steps to tackle your debt, then you are doing everything you can already and trust me, you will defeat you debt! 

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