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The enormity of advertising highlighting the “good life” can contribute to the desire to have the house, car, and vacations that many cannot afford and soon find themselves living beyond their means.
Stress can be both emotionally and physically debilitating and stress from finances is no exception. Stress has been known to cause high blood pressure, strokes and even heart attacks.
Financial woes are also a big factor in troubled relationships and are one of the reasons couples fight and break up. From hiding shopping habits and high credit card debt to arguing over expenses and budgeting, the stress on a marriage can be harmful.
The pressure for men as well as women to be successful, support a family and strive for more in a society where having more is celebrated. This level of stress can contribute to many sleepless nights and high anxiety as pretty soon, credit cards are maxed out and a financial spiral begins.
How does someone in this situation get out of debt?
First, it’s important to understand your debt. Credit cards spending, student loans, and even cash advances against your credit cards can all contribute to being financially underwater. Understanding the type of debt you are dealing with, whether it is one of the above, or a combination of several negative financial events is the first step to getting a grip on your financial health and your financial stress.
So how do you begin to get a handle on your debt, improve your credit score and get out of debt? It’s going to take some work, and it won’t happen overnight, but with discipline and a sound strategy, financial recovery can absolutely be achieved.
Being financially solvent will relieve much of the stress you may be feeling, not only for yourself, but for your family. If you are a parent, being able to send your children to college can weigh on your mind and your health.
And if you have never been able to afford a car or a house because of prior debt, becoming financially solvent can help you avoid bankruptcy and marring your credit even further.
So where do you get started? The key to getting out of debt is to work with experts who understand how debt is accumulated and can show you a path to not only eliminating your debt, but teach you how to manage your finances and start saving money.
Budgeting, credit counseling, honest communication with your significant are all factors on the road to financial solvency. The best way to travel any road is with the lights on so you can see the bumps and potholes in front of your and avoid them.
Finally, as you climb and conquer what once seemed unsurmountable, you can sleep easy knowing you can support yourself, your family and feel secure in your future.
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Photo: Getty Images