Everyone struggles in one way or another with managing their money. Many struggle to juggle mortgages, student loans, credit card debt, and basic budgeting skills. If you feel like your debt is out of control or hopeless, know that there are definitely others in the same boat.
You may feel stranded and hopeless, but there are ways to find a paddle and come safely back to shore. There are consequences to financial difficulties, but fear is not the way to freedom. Fear is likely to push you further and further into denial and seclusion. The greatest way to gain financial freedom is by empowering yourself with honesty and knowledge.
Gaining control over your debt starts with being honest about your situation. It sounds so simple, yet it’s another place everyone struggles. Being unaware of your finances is like trying to paddle to shore with a blindfold on. Take steps to know what you’re up against.
A good place to being is to be honest with yourself. There is nobody better to begin this journey with than YOU. You don’t need to be fearless to begin, you simply have to be willing. Face your fears and stare your financial woes in the face. The first few glances will push you past your comfort zone, but it will be worth it in the end.
Once you’re honest with yourself, start being honest with your support group. Here is where I can tell you from experience how much easier handling finances is with your support group on board. When I was first engaged, I hid my credit card debt from my fiancé like I was getting paid for it. When he had to sign for a collection notice, it was all out in the open. I was forced to be honest with myself and my soon to be husband all at once. However, we did confront it. We worked together on repayment plans and opened a door for future transparency. Once I was honest with him, it became easier to tell friends I couldn’t afford certain expenditures and feel like I would be supported. It actually ended up relieving some tension in my friend groups for those of us with lower incomes and big savings goals.
When you’re honest with your support group, your financial management gets so much easier. Yes, you’ll make sacrifices. Take some chances, push past the awkward moments and you can gain so much control over your finances.
Managing money can be complicated, even when you’re honest about your situation. If you’re struggling and have some changes to make, take the time to seek out appropriate assistance. Part of the reason it’s so hard to confront our financial pitfalls is because they can be difficult to understand. It feels like going to the dentist, being handed a drill and told “good luck!”
There are nonprofit experts who can get you the assistance you need for free. Whether you’re seeking assistance with credit cards, student loans, mortgage payments or just looking to get your credit in order, there are resources at LSS.
LSS Financial Counseling is here to arm you with the information and support you need. Counselors are not here to judge. In return, we ask that you give yourself the same courtesy.
If you would like to meet with a counselor to regain control of your finances and conquer your debt, call LSS Financial Counseling at 888.577.2227. Or click to GET STARTED ONLINE with your free financial counseling session.
Author Tracie Fauth is a Marketing Specialist with LSS Financial Counseling.