4 Tips to Eliminate Stress-Related Debt

Debt-stress-File-6021396-300x205When one is heavily in debt or have over-extended oneself, this can certainly cause a large amount of stress and affect every area of your life. Debt can be accumulated through credit cards, student loans, business loans, car loans, mortgages first or second, or small to large ticket items and at times this can be simply what some call everyday living. Clearly a lot can happen over the years and debt can build up. It can become very frustrating and create pressure on personal relationships, career, family, health and can lead to illness.

Here are 4 tips that may help provide you with some relief of the debt-related stress:

1. Focus on the big picture – you can become overwhelmed and frustrated while paying off debt which causes you to lose focus of the big picture. Remember your debt is only temporary if you stay focused. Allow yourself to focus on your emergency funds and retirement, imagine the extra money you will have once your debt is gone – in other words don’t lose the focus on the big picture.

2. Remember the why – the why is the big reason for striving to be debt free. Everyone has personal goals, focus on what those goals are and remember the why.

3. Make room for rewards – you cannot stop living just because you have debt. Celebrate those big wins with small rewards, set up a system based on your goals and then treat yourself when you accomplish them, so if you have a goal for paying off $1,000 in debt in 6 months and you pay it off in 3 give yourself an extra treat. Just make sure your goals are realistic.

4. Pay off debt like it’s a game – if you think of it as a game (and maybe include some of your like-minded friends and family) you can see who reaches the finish line first. Getting out of debt is more about your attitude than your finances, be a debt-fighting warrior and you will win the game.

When you start to utilize these tips you will feel a little less stressed and less frustrated, and perhaps a little more excited when you see the light at the end of the tunnel.

Want to read all of the blogs from this past week? You can read them all in full here.

Do you need some stress relief, debt counseling, or a better financial plan? If so contact me today and let me help.

Mavis Kelley, CHHC, AADP is a Certified Integrative Health and Wellness Life Coach specializing in nutrition, health, well-being, fitness and lifestyle design. For more information or to schedule a breakthrough session, please contact her at: Mavis@nspirehealthyliving.net or visit her website at: http://NspireHealthyLiving.com.

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Do You Share These 5 Excuses for Not Saving Money?

saveAs women we should have a better handle on money management habits but instead we have a better handle on the excuses that we use. It is time to eliminate the excuses and recreate new patterns that are life changing.

Here are 5 excuses and some suggestions on how to break them to start your financial stability for the upcoming year:

1. I don’t understand finance – if you really don’t understand finance then take some initiative and learn. It is almost 2015 and women are no longer in the dark ages; we are out in the forefront and on the front lines, so don’t be afraid to ask for help and to ask questions.

2. I don’t have enough money – this may be an actual fact of your life, you may not make “enough” money to save but only you have the power to change your situation. Figure out how by; negotiating for a raise, find a better position, work more hours, or establish a business on the side doing something you love.

3. I have to pay off my debt first – yes you need to pay off your debt but don’t let that be the only financial priority that gets your attention. If you are 30 and under now is the time to start saving. You can repay your debt but put at least 10% aside for your savings too. It’s okay to work towards more than one financial goal at a time.

4. I can always save later – This is a misconception because that is not always true you may not get a chance to save later. If you start early enough you can make smaller monthly contributions towards your nest egg than playing catch up. Let compound interest do the heavy lifting for you.

5. I don’t have enough to save and buy what I want – Prioritize your spending, the biggest spending you do should be the money you put in your savings; pay yourself first and then use what’s left over to purchase what you want. Saving for your future is the biggest need you will ever have and should be your first priority.

Want to learn more about becoming financially stable? If so contact me today.

Read our other blogs in full here.

Mavis Kelley, CHHC, AADP is a Certified Integrative Health and Wellness Life Coach specializing in nutrition, health, well-being, fitness and lifestyle design. For more information or to schedule a breakthrough session, please contact her at: Mavis@nspirehealthyliving.net or visit her website at: http://NspireHealthyLiving.com.