Your financial situation, or the amount of debt you’re in, can play a complex role in your life. Perhaps even more than you think

If it is going well financially, and you have no or limited debt, you stress less and feel content. Your overall health – heart and mind – are at ease. If this is not the case, you can be sure of unlimited stress and complications.

Of course, money is not everything, but when your financials are sorted, things do tend to go a bit smoother when trying to juggle life and the costs involved. So, what can you do if you’ve figured out that your current ‘relationship with debt’ is quite COMPLICATED?

Don’t add to the stress

Carla Oberholzer, DebtSafe’s debt adviser, highlights firstly, not be too hard on yourself.

“A debt burden is hard enough to carry. Take things seriously, but give yourself a break in the process. All the debt drama can surely give you the jitters. You need to untangle the complications of debt in your life slowly but surely. You should not add to the stress that is already evident,” mentions Oberholzer.

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So, how do you uncomplicate your current ‘relationship with debt’, and properly restore or fix it?

Why not give these four financial fixers a try?

1. Take a look at unsecured debt that is causing complications

In many cases you can be ‘almost more than sure’ the big culprit responsible for your escalating debt is unsecured debt. Perhaps you have an overdraft, personal loan or more than one credit card?

This type of debt is utterly expensive. So, before you can try to fix your ‘relationship with debt’, you’d better be prepared to identify it.

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2. Yes, you need to consider a plan in the middle of the debt chaos

When you have no idea where to start getting rid of the guilty culprit of your unhealthy ‘financial relationship’, first of all, breathe.

Yes, it is quite overwhelming, but stand back from all the emotion for a bit. If you have taken a breather, it is time to get out those bank statements and find the spending leaks or debt deductions that you can get rid of in due time.

3. Don’t go it alone to FIX your complicated ‘relationship with debt’

Okay, so you have tried your best to start finding your debt culprit(s) and have had no luck so far with the ‘fixing the relationship’ part? Why not get some professional help?

Do you have a financial planner, a broker, a banker, a counsellor? What about a trusted family member or friend you can confide in, who can give you the financial expertise you require? Of course, if you receive a form of income and you see that you are behind with payments and, you are going to lose your car or house, then perhaps you should take the National Credit Regulator’s advice into account and consult a registered Debt Counsellor.

Professionals can always work out a timeline and a plan, and when it comes to the Debt Review industry, they can negotiate with your creditors for a lower instalment. 

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4. Do what you can TODAY & stop worrying about what might occur later

No need for your imagination to run away with things that might happen tomorrow. Use today to start sorting out your ‘relationship with debt’ bit by bit. Rome was not built in a day, so do what you can today (even if it is just a few admin tasks) and take it step by step to fix your ‘relationship with debt’.

It’s GO TIME – time to fix your debt for good. Don’t wait until it is too late. Start now and untangle this unhealthy relationship for good. You WON’T regret it!