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How to Overcome Guilt from Debt or Poor Credit

How to Overcome Guilt from Debt or Poor Credit

If you’ve found yourself in a tight place as a result of mismanaged money, you may also find yourself racked with guilt. Hindsight is 20/20, and it can be too easy to beat ourselves up over the poor, irreversible choices we’ve made. But guilt and shame are heavy burdens that can prevent us from moving forward. Here are some ways you can overcome those feelings and get your life back on track.

Pinpoint the source

First, find out why you feel this way. If you evaluate your situation and can identify the source of your worries, you can then make a plan to fix it. Maybe it’s your spending habits when you go on vacation, maybe it’s being too generous with gifts for others, or maybe it’s the desire to have the newest, shiniest cars and gadgets. Whatever it is, own up to it. You can’t face and fix something if you keep hiding from it.

Evaluate your source of worth

Guilt and shame make us feel little and vulnerable. It’s easy to associate our character with our behavior, but it’s important to realize your credit score doesn’t measure your worth as a person. Your credit card balance doesn’t tell of your kindness.

Make a list of your attributes that are unaffected by your current financial situation and build yourself up. You are a good person regardless of your spending habits. Empower yourself to take control, because you are not your debt.

Take action

Once you’ve identified the source of your woes and have built up the confidence to get over it, then get going! Nothing will change unless you change it. Get educated in all things financial. Most banks and financial institutions offer courses for financial literacy, savings, budgeting, credit repair, etc. Look through the other articles on our blog to learn more about how to fix your financial problems.

The point is, don’t wait around for someone to rescue you. Rescue yourself and start now. Take whatever little step you can this very day to overcome your situation. Even if it’s simply outlining your budget and knowing your income versus expenses, you’re already on the right track.

Safeguard the future

Make an oath with yourself that you will not return to this place of guilt and shame. Turn this experience into a passion of money management, and take steps today to make sure you never go back. Some ways of doing this include setting up auto-draft payments so you never miss a bill payment, setting alerts to remind you to transfer money to savings on your payday, or set up automated transfers so saving becomes an automatic part of your life. Here are some tips for getting out and staying out of credit card debt.

Don’t let your financial mistakes take over the rest of your life. Start your new path today and discover a new life of financial peace.

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