Strangling credit debt

/By AzerNews/

By Laman Sadigova

You feel anxious and panicky? You are stressed and nervous? Are you in a credit debt?

Credit card debt has become a relatively new disease which has spread worldwide. Now it has grown to epidemic proportions and affects people of all income groups, all professions and all ages - from young adults to senior citizens.

Although credit cards are indeed a very comfortable financial tool, if not handled with measure and common sense they can become a source of trouble.

In another word, this innocuous thing can indeed harm human life.

One of my colleagues put this idea in my mind when he told me that since he had bisected his card he feels very happy, almost liberated. He even swore to never again fall in the credit trap.

The reason standing behind such behavior is rather simple - despite his best efforts to curb and control his spending my colleague had gotten trap in the credit vicious cycle, prisoner of his debt, forced to rely on his credit card time and time again.

Getting rid of the card brought him a feeling of welcomed release.

Why is that?

Indeed, we all possess personal demons in many areas of our life, and finances are not excluded. Sometimes, we regard shopping as a cure against depressions and stress and this can lead to over-spending.

We often try to assuage our troubles and worries by buying things to make us feel better.

Only, this habit can actually lead to the creation of more troubles – financial troubles.

Debt addiction is real and can destroy lives.

Debt addicts live in money chaos and drama. Many use one credit card to pay the other. They live from paycheck to paycheck, never being able to cope with their growing bills and expenses.

Sadly, rather than address the problem head on, most people tend to muffle it, hoping somehow that by not looking at something it will disappear. But it’s never that simple, is it?

Spending addiction mostly manifests as a symptom of negative feelings that we are trying to avoid. Indulging yourself in shopping helps numb these troubling feelings, at least for a while.

The major argument to such unexpected phenomenon as credit addiction is that when you use a credit card and do not hold real money in your hands, you cannot feel how much you are actually spending. You do not think even about accumulated commission payments and the sad moment comes when you go to the till to swipe that credit card of yours. Many often find themselves sickened to finally realize just how much they spent on things they cannot afford in the first place.

The most important thing is to realize is that you have a problem - in time you will learn to address the root-cause of the issue and recover.

Never deny the truth

Do you spend too much with your credit card without realizing it? Do you resort to over-spending to make yourself feel better?

Are your cards all maxed out?

When you are in deep credit card debt and feel truly desperate due to your financial troubles, it is time to face hard realities. Skeptics -- and there are plenty -- of compulsive buying addictions want to dismiss the words of addicts and researchers alike. In our society, it is very hard to admit to a problem and ask for help. However, this problem can swallow you in the end. That is why you need to focus on the problem and try to talk with someone about it.

This responsible step will push you a little bit further on the way of solution.

Try to act like an adult

After you come to realize that you have a problem, it is time to address the situation!

Let me warn you, it will not be easy.

People who are overly reliant on credit cards are often uncomfortable with the idea of being in situations where they cannot use their cards, but true addicts get into downright panic.

Many people just cannot control their own appetite. Perhaps, the most effective decision for those is to abandon credit cards altogether and avoid them until they feel secure again.

Think therapy

It is better to try a therapy other than shopping. Find out new hobbies, relationships, job, adventures that will release your dependence on things. To be exact, anything that will heal you and make you feel happy without spending.

You can become your own boss; just instruct yourself on how to control your own urges, wishes, spending and desires.