This is a guest post by Natalie over at Everything Finance. Everything Finance is a site about just that, everything related to finance. You can get information about investing, saving money, insurance, shopping, blogging, and making money online.
It can be hard to keep to keep your cool when paying down debt. This is especially true when there are so many pretty things to buy and so many temptations to spend money. I mean have you ever gotten one of those shiny new catalogs for clothes or electronics? It can be hard to put that down especially when the newest edition of whatever is out. It can be tough to be responsible, but the thing is it is the right thing to do. Debt is a killer and it WILL weigh you down. It is all about having the right attitude.
I know exactly what this feeling is like because I have lived it. I can personally say that it is not fun having a certain percentage of your income magically disappear every month. This is what paying debt is like and it’s a reality for millions of people today. I have known some people to go stir crazy during this time. It all starts well with the best of intentions and the regular debt payment. Pretty soon you are feeling angry and eventually you snap. This means you run into the store and buy up everything they have. You end up with a maxed out credit card and an empty account. This can lead to depression and the vicious cycle continues on and on. What is one thing you can do?
Finding little ways to splurge can help you keep your sanity during this time. This doesn’t mean you go and buy the new flat screen television for making your water bill this month. There is a lot of research that suggests that what makes people the happiest is spending money on experiences rather than things. Splurging on the occasional concert can be very liberating and a chance to spend time with loved ones. Checking around town for free concerts in the area can be an even better way to have fun while still enjoy some great tunes. Whatever the splurge, make sure it is something that you love to do and make memories doing it.
Another way to stay cool when paying down debt is to remember why you are paying it off in the first place. Nothing is better than that feeling of not owing anyone anything. The idea of getting to keep what you make is enough to make most people cry tears of joy. Therefore, using this as a motivator to keep paying off debt even when you are feeling frustrated can be what gets you through this difficult time. Also, remember that there is light at the end of the tunnel and you will one day be out of debt. Keep chanting this to yourself when you are losing your nerve.
Keeping cool when you are paying down debt can be very frustrating but it can be done. Make sure that you keep your head on straight during this time can be the difference between making sure you succeed and failing. Remember the whole feeling of being able to be debt free can be the most awesome feeling in the world as long as you work at it. Keeping calm and relaxed is probably the best thing you can do when paying down a lot of debt.
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