Help With Debt – Root Out Debt Addiction

Help With Debt – Root Out Debt Addiction

You need help with debt. Debt is an addiction as surely as any drug. When you are about to charge something on your credit card, you feel an exhilarating expectation of the purchase. When you make the purchase you feel a euphoric high, and sooner or later you almost always feel a huge crash when reality hits, the luster of the purchase wears off, and the payments grind on into eternity. If that is not an addiction… I don’t know what is.

Just like any substance addict the credit addict willingly exchanges future security for the high of the moment. The credit addict will place his or her future earnings in the hands of bankers for an immediate purchase “hit” that is rarely worth the future cost.

Ok… This might be a little over the top, but is it really? If you are in the grip of runaway debt and the prospects seem dim, the debt habit must be rooted out. Here are a few suggestions that can help you to overcome you debt addiction:

Build a habit of saving

If you aren’t a saver… start small. Build up a cash reserve in your wallet or purse. 5 to 10 dollars at a time. Once you get 50 dollars built up, put it into savings and start again. Try paying yourself 10% of your paycheck and put it into savings. The exhilaration of saving can be just as strong as the feeling you get when you spend. Especially as your savings grow.

Leave your Credit Cards Home

It might unrealistic for you to cut up your credit cards, but at the very least, leave them home. You can’t use them if you don’t have them available. When purchasing online, limit the amount that you will spend at any given time. Be sure not to exceed that limit.

Make a “Delayed Gratification” Shopping List

Vendors count on you making purchases in the heat of the moment. Turn this to your advantage by placing items you really want on a Delayed Gratification list. When shopping for non-essential items, only purchase items that have been on this list for over a week. You will find that you lose interest in many of the items on the list when you have to wait a week to purchase them. If they still hold your interest after the waiting period, make sure you can buy them with cash.

Get Support

Just like a substance addict, a credit addict needs support. Sometimes the temptation to use credit is strong and the desire to get out of debt wanes. Especially when progress is slow and that “thing” that you must have is staring you in the face. Ask for help from friends and family to help you get through the hard times. If you find that your debt is just too hard to handle yourself, you can resort to professional help with debt.

Try these suggestions if you need help with debt. Hopefully they can start you on the way to overcoming your debt addiction.