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An insight into the emotional effects of debt

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Last Updated on by Noni May

It is said that money can’t buy happiness and that may be true, but at the end of the day it is the only thing that will help to pay the bills. When you spend money, you may experience a rush of endorphins but eventually, this can land you in some serious trouble.

Denial

Consumers don’t have the luxury of spending all of the time. If you are in debt then you may find it hard to come to terms with your debt and you may also find it hard to tell others about it. Denial is a huge part of debt, and one of the main things that people do is underestimate how much they actually owe. You may even find that you don’t answer the phone when you have a debt collection agency ring and you may even open up a new credit card even though your old one is maxed out. Other signs of being in denial include the fact that you shove any debt letters into a drawer as well, but if you continue to deny your debt then you will find that the whole thing will only get worse. One way to try and avoid this would be for you to hire a debt consolidation service. They can help you to bundle all of your debt into one easy payment.

Fear

The mere thought of making a payment late doesn’t just make most people feel uncomfortable. It gives them a dry mouth, a headache and even the shakes. You may assume the worst is going to happen and you may even feel as though you are going to lose your house or even your home. Nobody wants to live like this, but if you don’t get your debt sorted out then you may get to the stage where you are living like this every single day.

Anger

Another common emotion that is experienced when you are in debt is anger. A lot of people experience anger when they are in debt because they are either angry at their own decisions or they are angry at the idea of a debt company coming to take all of their belongings. Of course, anger can be felt in many different ways and you would be surprised at how easy it is for you to get wrapped up in these emotions.

So what can you do if you experience debt and what can you do to keep your emotions under control? One thing that you can do is make sure that you are always trying to get your problems sorted out. You have to plan out your finances and you also have to make sure that you save wherever possible. The problem isn’t going to go away if you bury your head in the sand and it isn’t going to go away if you just do the bare minimum. Paying off debt requires a lot of dedication, and the only way you are going to get there is if you are completely focused on the end goal.

 

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