Have you ever experienced a time in your life where you are afraid of your ringtone or your doorbell? How about opening your credit card bills? If this is true then you definitely have a problem with debt.
Many people unknowingly dig themselves into deeper debt each day especially those who cannot control their purchasing. A good example is Rebecca Bloomwood in the movie “Confessions of a Shopaholic”. You may not have 12 credit cards in your wallet but maybe you have the same attitude. Rebecca simply doesn’t think of the future. She spends through her credit cards until there’s no more to swipe. And then here comes the collector whom she labelled as an “enemy”. She doesn’t answer his calls nor open her door when the collector comes to visit her. Worst thing, she doesn’t care how much she’s spending in spite the fact that she cannot pay her bills anymore.
How can someone realize she’s putting herself to jeopardy when she’s at the height of a spending frenzy? Will she realize it when the collector comes to her house because she’s not paying her bills? Will she realize it when her credit cards have been cut? Will she realize it when she cannot even pay for the minimum amount required? I don’t know. But one thing is for sure. She will be stressed and at times cannot sleep because of it. She will have an unpleasant life because she will hide from her creditors all the time. She may even hide from friends because of humiliation.
In order to address the problem she has to accept that she’s in deep trouble. A decision should be made and then action follows. It is indeed very difficult to accept, decide and act because she will be turning 180 degrees from what she has been doing. But she has to face that difficulty in order to succeed. She may seek counsel from a professional financial planner or a psychologist maybe to correct her notion about shopping and spending. She may even have to endure the stress of not swiping her cards and agree with saying “cash is king.” A lot of work to do and she better get started for time runs fast and doesn’t wait for anyone.