3 ways to deal with guilt & shame about debt - Rethink Central

3 ways to deal with guilt & shame about debt

by | Jul 22, 2014 | Debt, Finances

“You may not be able to settle your debts today, but you can lose the shackles that come with them.”
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Whether you’re carrying around far more debt than you can imagine,

or an amount which is slightly more tangible, economic woes can cause people to feel ashamed and guilty.

Money can simply have that sort of power over people. But, while it may be natural, it’s hardly desirable – no one wants to feel remorseful or carry the burden of money issues around with them.

You may not be able to settle your debts today, but you can lose the shackles that come with them.

These small tips will help you to get yourself out of debt in the long run, but they’ll help you to feel better instantly.

Face your finances

The trouble with shame and guilt over debt is that most people don’t even know what they’re afraid of. They have no clue what they owe, or to whom; and, therefore, they have no way of knowing what they need to do to tackle their debts. The best thing to do is to take stock. It may not be pretty, but at least you’ll know whether you need to have such and icky feeling whenever the phone rings.

Small, committed changes

Eventually, you’re going to pay your debt down. Facing it is the first step, but pro-actively deciding to make a dent is a solid way to fight your fears.

Whether it is a matter of working harder to earn more money, setting yourself a daily budget, creating financial goals, or investigating cheaper insurance options – make a change to one area of your financial life.

It can be as simple as determining to text instead of calling friends. It may save small change now, but it adds up and helps you to remember that you’re in control.

Change your money story

Take a look at the emotional ties you’ve got towards money and how past financial decisions have made you feel. Changing your money story is a powerful way to take control of your financial life.

Not sure how it works? Take a look at this post on changing your story around money.

Take action!

Guilt and shame are horrible feelings to have. Start making changes to your life now for a healthier, happier you.

  • Negotiate your debt – it’s easier than you think to negotiate your debt away. Sign up for our newsletter and we’ll tell you exactly what you need to do.
  • Stop losing sleep – if you’re working towards financial freedom, there’s no reason you should lose any more sleep. Allow yourself a healthy rest every night; you can tackle your money again in the morning.
  • Ask for help – If you’re not sure what you need to be doing, then get advice from someone who can help you along the way. Too embarrassed to speak to your friends and family? Feel free to reach out to us and we’ll get you moving instantly.


Want more information on dealing with your finances? Why not take a look at these articles:

Negotiate your debt down
Manage my boss, manage my pay rise
5 ways to detox your debt

And, be sure to let us know what you do when you need to detox your debt? Your tips are sure to help other readers do the same!


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