Rebounding from the Bottom

The reality of debt can be a truly depressing situation.

The process of standing back and gazing at the immensity of what is owed can make us feel as if we’re at the bottom of an endless hole, pinned there by an enormous boulder, without even a glimmer of light cutting through the darkness that’s all around us. Emotions such as fear, shame, anger, and frustration can be overwhelming, leaving people who are in the grip of debt feeling unable to see or even imagine a way towards any possible solution. Despite the terrifying burden that examining our debt can be, it is necessary to take a realistic look at our situation so we can best understand our position and help us to create a path that will get us where we need to be for the future. Staying at the bottom and giving in to the overwhelming emotions that we feel will not get us anywhere. 

First, we need to take responsibility for the position we are in. That being said, it’s also not helpful to blame ourselves for where we are.

By simply owning our situation, we wrestle the wheel away from the fear and put ourselves firmly into the driver’s seat, where we are now in control of the direction we move. 

You need a plan and you need to stick to it. Once you figure out how much you actually owe and understand that you are in control of resolving this issue, you need to make a plan for blowing this debt out of the water. Take a look at your expenses and cut what you can. Sell anything of value that you don’t have to keep and put that towards your debt as well. Finally, look at your job situation and ask for a raise, get a better job, or pick up a side hustle or two. Do everything you can to turn your situation around and start making your way towards financial freedom.

And remember that while debt can feel isolating or like no one knows or cares what you are going through, that really isn’t the case. There are many non-profits that can help you go over your books, consolidate your credit cards, create a budget, and possibly even refinance your loans. Look around, see what organizations are out there, and then reach out to get the help you need. Remember, the great thing about being at the bottom is that any action you take in a positive direction HAS to get you closer to where you want to be. So stand up, dust yourself off, and take a step forward. Now you’re that much closer to achieving your goal.

Additional Resources:

National Foundation for Credit Counseling

Get Out of Debt Faster

5 Successful Women Who Were Fired and Went on to Greater Achievements

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