The emotional side of debt
28 January 2013, 11:52
Living with debt can impact all aspects of your life. Debt Expert Moeshfieka Botha shows you how to deal with the emotional stress that you might be experiencing.
We are in for a tough year ahead. Mostly because of our inability to manage our debt.
Debt is most often thought of in financial terms. Yet, the emotional distress experienced in a bad financial situation, easily equals the financial distress.
There is so much guilt and shame associated with debt, that talking about it is practically taboo.
This is strange, when there are so many people whose lives are negatively affected by debt.
Many of us are living a debt nightmare – but so few of us are talking about it.
Reason being that many of us are scared.
We are intimidated by the jargon banks and creditors throw at us and we are petrified that there is no solution to our problem. And as is human nature – when fear sets in, we bring out the coping mechanism.
In the debt arena- that means DENIAL. We simply pretend that we can cope. We stop opening envelopes from creditors and point blank refuse to acknowledge any registered mail. We somehow think that by the swish of a magic wand – it will all go away!
Reality check – it wont!
It's therefore better to look for viable solutions to your debt problems.