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

---

The Last Debt Solution Should Be Bankruptcy

A debt solution like bankruptcy should really only be used... Read More

5 Options Toward Debt Relief

If you are in debt, well over your head in... Read More

New Bankruptcy Legislation May Make it Harder to Find an Attorney

The recently passed Bankruptcy Abuse prevention and Consumer Protection Act... Read More

The Simple $10 Debt Elimination Solution

Ask a friend what resolutions they made for 2004 and... Read More

Why You Should Get Out of Debt Today?

The main reason for getting out of debt today, is... Read More

Christian Debt Consolidation ? Feel Comfortable About Managing Your Debt

Many Christians feel uncomfortable with the notion of being in... Read More

Bankruptcy - Your Fresh Start

Most American consumers are living too close to the edge.... Read More

Use A Debt Checklist To Examine Where You Are

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

Is Debt Negotiation Bad?

Educating yourself about the ins and outs of debt negotiation... Read More

What You Should Know About Bankruptcy

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

Home Equity ? Foreclosure Often Not Necessary in Current Market

While driving around your community, you may have seen signs... Read More

New Bankruptcy Law ? Where?s the Consumer Protection?

On April 20, 2005, President Bush signed into law the... Read More

Reduce Your Debt With These 5 Tips

It's never pleasant to realize that you're in financial hot... Read More

Personal Bankruptcy: Last Option To Legally Stop Bill Collectors

Do you have stacks of unpaid bills?Are you in debt?Are... 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 Problems? You Can Negotiate With Your Creditors

It is always possible to negotiate with creditors ? even... Read More

Hide That Car! Fighting the Repo Man

Vehicle repossession may appear justified in circumstances where a person... Read More

Debt Elimination Is The Key to Financial Freedom

If you want financial freedom, the first thing that you... Read More

Bankruptcy Interest Increases as Deadline Approaches

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

How Do I Lower My Debt Burdens?

How do I lower my debts?There are several ways of... Read More

Credit Card Debt Freedom is Possible

Credit card debt have you drowning financially? You're not alone.... Read More

How to Negotiate Debt Settlements

Knowing how to negotiate debt settlements is the key to... Read More

How to Become Debt Free

In today's consumer society it is all too easy to... Read More

Learn The Five Key Debt Reduction Steps You Must Take Immediately!

Step 1. The purpose of this first step is to... Read More

Debt Settlement : What You Need To Know

Debt Settlement companies work with your creditors to help you... Read More

Debt Free Living - 5 Tips To Get Out Of Debt

A few times I wonder what sort of credit system... Read More

Is There A Way Out Of Your Debt Problems?

Do you have multiple debts? Do you have just one... Read More

Debt Collectors: Men or Mice?

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

IVA Information

If you're thinking about an IVA, it is essential to... Read More

Debt Reduction, a Necessary Endeavour

Massive debt is something many Americans face. Debt reduction is... Read More

Life After Bankruptcy

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

Bouncing Back from a CCJ

Should you be unfortunate enough to face a CCJ ?... Read More

Bankruptcy: What the New Law Means to You

On April 20 of this year, President Bush signed a... Read More