I’m struggling with credit card debt. I had a stress nightmare last night about it and woke up with a TMJ migraine from clenching my jaw. I’ve know I created this mountain of debt, making frivolous excessive purchases during depressive mental health episodes. And this burden keeps me in an pseudo-marriage, at an unfulfilling job, in a home that’s about 1 hour from any city. Stuck. Alone. Ashamed. #BorderlinePersonalityDisorder #Debt
Covid is putting a strain on people’s finances as well as their mental health.
During my 30 years as a Pastor I have chosen not to draw a salary from the church but have supported my family by running a financial planning business. Here are some strategies I have proven work in helping people get on top of debt.
1. If you are sinking, plug the leaks. You need to know accurately where your money is going. A two cup a day of coffee from the cafe is $7 a day. That is $1750 a year. Drink instant if you need to. Do you “need” cable tv?
2. Pay the smallest debt first. It will encourage you to tackle the big ones.
3. Talk to the bank. The biggest mistake people make when they are in debt is to ignore the bank. If you ignore them they will quickly go down the legal path. Banks are realistic. 70% of something is better than 100% of nothing. Approach them and ask for some debt forgiveness, reduced interest rate or repayment plan that you can live with. You’ll be amazed at how generous they can be, but you have to ask. They will never volunteer this.
4. Increase your income. Time poor people will pay others to walk their dogs, do their ironing etc etc.
5. Get overtime, second job etc. Remember you don’t get paid for the hour, you get paid for the value you bring to the hour. Be valuable.
I hope this encourages and helps you.
So its been a while since I've posted and this ap is the one I turn too when I am low..I've seen things like money isnt everything..it will all be ok..but heres my current reality..we were already walking a fine line between being able to afford things and being so poor we literally can not afford anything. .our dog (pic above) is ill, he urgently needs a double tplo surgery on both his back legs, we are approved for finance but we will barely scrape to repay it, we have 2 children in secondary school who in September will require full school uniform which will cost approximately £700..both of our cars need work to stay legal, we've got other bills that need paying before we even think about food and utilities, and I cant get extra hours at work because there isnt any available.
So yea money might not be everything to some but when I sit and do the math and work out the enormity of what we're facing..I'd honestly just like to throw in the towel, but I can't, I can't not go ahead with the dogs surgery and I cant not get the kids uniform and I cant not make sure our cars are legal..everything just seems to go to hell at a time when I can't do it alone (hubby is overseas)
Hi everyone!
For anyone who's interested, I've started a podcast 😁. Its primary focus is trying to understand how money works and how the "system" is built to keep us in debt and not prosper finacially.
However the underlying message is about my journey understanding myself and where I fit in with my mental issues but how I can still accomplish my goals.
I feel we need to talk about money and the lack of understanding more because money troubles often lead to mental health issues.
I've only done 3 episodes, so its not a fantastically produced podcast yet. but bare with me I'm learning!
Its available on all podcast platforms, just search for Mental health, Money and Me podcast and I should come up.
Let me know what you think if you have a listen! 😁
open.spotify.com/episode/691uPmSMvrJHYHZtM7Vkag - This link is to spotify. Enjoy #Anxiety #ADHD #Podcast #MentalHealth #blogpost #money #Debt #TheMighty
I'm a comfort spender and after posting a question about this quite a lot of other people are too. I'm facing up to my finances and trying to take control. I'm going to be blogging about my journey. psykhe.co.uk/comfort-spending
Sent from app I feel like a failure. I have a Masters degree but can't find a job that pays me the way I should. I took out student loans totaling almost $120k and have over $20k in credit card debt. I got into debt because I didn't make the money I needed for the life I wanted to live. I've spent my life trying to be independent from asking family and friends for help. My partner tells me I need to stop being negative but I feel like I've tried too hard to be independent. My co workers love me but my current job doesn't pay me enough to cover all my debts and expenses. I feel lost and confused and sad. #Depression #Debt #Anxiety #alone #lost
Sent from app Credit cards have been stressing me out and I’ve become overwhelmed with the number of credit cards I have and have thought of bankruptcy. It hurts to even mention it but the credit cards have become too much. #Anxiety #moneytroubled #Debt
Sent from app I haven’t been able to pay hardly anything in years. I called one collection place today and got it dropped to $10 a month. I’m not bringing in any money currently so I’ll have to ask my parents. I still have to go in to my college and explain as well that I can’t pay the $3000, and call my student loan place that I owe over $20,000 to. Nothing like debt to make me want to puke and die... I still have more that I owe on and I wish I could just finish school and work like normal and pay this sh*t off!! #Debt #College
Latest
