Yes to Less Debt

Feeling stressed by the amount of debts you have? Three years ago Michelle was struggling on a nurse's salary. She had run up huge debts with a number of court judgments against her name. She longed to travel - a dream that she kept telling herself was impossible. It was clear to Michelle that she couldn't continue to run up debt, yet on payday she would rush out and buy new clothes to cheer herself up.

Becoming more and more stressed about her debts meant that she frequently slept badly and was not fresh for work, which resulted in time off sick. She was unable to work any overtime because she was always too tired. She kept asking herself, Why is it so difficult for me to save instead of spending all my money? The same answer came back every time: Because you spend more money than you are earning!

When Michelle was finally ready to listen to the answers from her own conversations, she acknowledged that she needed to stay away from shops so that she physically couldn't spend her money. She knew that, by continuing to shop, she would sabotage her dream of financial security and travelling abroad.

Michelle had warning signs almost every day in the shape of bills and credit card statements. She began to dread the post arriving. Finally, she gave in to the situation and called me. As you know, she said, I bought a new car a few months ago, which I hardly use now. The bank has just bounced my payment this month and I can't see how I'll be able to make the payment within the next seven days.

She had not realised how much debt she had incurred. Short of winning the lottery, she accepted that she couldn't change her level of debt immediately. Michelle didn't deliberately put STOP signs in her life to prevent her dream happening. She simply hadn't stopped to think about the consequences that her spending would have on her dream to travel.

Even though you may know what really matters to you, you may put all sorts of barriers in place, which firmly STOP you from achieving what you really want to do. Have you longed to make changes, to find that you have been stopped just as you got started, or even beforehand?

In facing her financial situation honestly, Michelle could see how long it would take her to be debt-free. For the first time in her life, she took time to look at her outgoings as well as her income.

Michelle accepted that she had let things slide too far, and she was determined to avoid bankruptcy. She changed her spending habits and decided what was important in her life (no debt and all the stress associated with it; being able to travel). Three years on, she is working in Australia, with an apartment by the beach, having paid off all her debts. Now, most of her days are stress free.

If you find you are in debt, don't bury your head in the sand - debt does not go away. It is important to deal with the problem before it escalates out of control.

Speak to a friend, family member or a professional advisor and then act on sorting out the debt. Prioritise repayments on essential services such as mortgages and utility bills.

If you are paying off a range of credit cards pay off those with the highest rate of interest first.

Carolyn Matheson is a nationally recognized Coach, Speaker and Author of "Yes to Less Stress."

Carolyn is a Master Certified Coach, and works with executives and their teams across the world. She has pioneered an innovative approach to coaching, combining many years of high performance coaching with a holistic approach to work/life balance and has coached hundreds of leaders and their teams. Her experience as a presenter, both nationally and internationally, spans 20 years, with clients currently in Europe, Australia, the Middle and Far East, and the USA.

Her book, Yes to Less Stress is available online from http://www.areustressed.com

---

Debt Handling Solutions

Sometimes debt can seem overwhelming. In those instances, or even... Read More

Save Money When Going Out

It seems as though whenever we go out for the... Read More

Bank Like a Banker

The business of banking has changed dramatically over the last... Read More

Bankruptcy Reform

There are some new bankruptcy laws going into effect before... Read More

Are You Beating Up On Yourself About Debt?

When you hear the word "debt", whats the first thought... Read More

Life After Bankruptcy

Bankruptcy and Credit - What Happens After Your Debts Are... Read More

Debt Relief with this Simple Formula

Is there a way to get out of debt without... Read More

Help for the Single Mother with Managing Credit and Debt

Today's consumers benefit drastically from the usefulness of credit. Credit... Read More

Learn The 15 Debt Elimination Steps You Must Take Immediately!

What Everybody Needs To Know...Learn The Truth About Debt Elimination... Read More

Bankruptcy Interest Increases as Deadline Approaches

Congress recently passed sweeping legislation that will significantly reform American... Read More

Five Hot Tips To Get Out Of Debt Forever

The financial and psychological burden of being in debt causes... Read More

The Debt Free Lifestyle

Many people have been taught that you cannot get ahead... Read More

How to Protect Yourself: Debt Collections

So you are getting collection calls? You're desk is full... Read More

What Is A Chapter 13 Bankruptcy?

Many consumers that are bogged down in debt frequently turn... Read More

Debt Relief -- Why Most Programs Have A 75% Failure Rate

Debt consolidation, equity loans, credit counseling, debt management plans, even... Read More

New Bankruptcy Law Makes it Harder to Stop Foreclosure

On October 17, 2005 President Bush's sweeping bankruptcy reform law... Read More

Debt Validation: Do you have to pay ?

It happens all the time. Debt collectors try to collect... Read More

Bankruptcy ? Bankruptcy Myths

Bankruptcy has long been a big question mark in the... Read More

Use A Debt Checklist To Examine Where You Are

A Debt Checklist allows you to look at items and... Read More

The Bankruptcy Code Acknowledges the Validity of the Homestead Exemption

Many times the subject of bankruptcy seems baffling in its... Read More

Five Major Ways to Save Money

There are two main roads to improving your personal finances:... Read More

What You Should Know About Bankruptcy

Filing bankruptcy is not only a last resort legal action;... Read More

5 Ways to Get Out of Debt

It has been said that everyday more and more people... Read More

Free Quick and Easy Money Saving Tips ? Part 2

Although many consumers would argue differently saving money doesn't have... Read More

Out of Credit Card Debt - Without Filing Bankruptcy

To be out of credit card debt is your dream... Read More

The ONE Law You Should Be Breaking

There is a law all smart people break.Parkinson's law.Parkinson's law... Read More

Currency Trading Fee Concept

Troubles with Global Economy; Do you see future problems with... Read More

Pay Off Your Student Loans and Reduce Your Debts

Financing a college education is one of the more expensive... Read More

The New Bankruptcy Law -- How Will It Affect Debt Negotiation?

In April 2005, Congress made sweeping changes in U.S. bankruptcy... Read More

What Are The Benefits and Consequences Of Getting Rid Of Debt The Easy Way

We have all experienced getting so far in debt we... Read More

The Road to Debt Relief

Living with debt is not something someone hopes for, but... Read More

Debt Collectors: Men or Mice?

Who are these people anyway? They viciously harass you and... Read More

What Does A Bankruptcy Trustee Do?

Once you file bankruptcy a court appointed bankruptcy trustee will... Read More