In addition to financial worries, battling debt often leads to depression, anxiety, and stress and can lead to tension or arguments between you and your loved ones.

Here, we take a look at how to deal with the stress and emotional and mental turmoil that come with debt.

1. Accept that your debt is a problem

Before you can tackle your debt and the worries and stress associated with it, you need to accept that it is a problem. For many people, debt is something that comes to mind, and it slowly builds up over time.

Your debt may have gone from low, manageable debt to something that now seems like it’s totally out of your control, but now you have to accept that your debt is a problem.

2. Talk about your debt

Once you’ve accepted that your debt is a problem, it’s important that you talk to someone about your concerns. By talking about your problem, you share the burden of worry and help reduce feelings of stress. Be open with your partner about your debt, it affects them too – both financially and emotionally.

If you feel comfortable talking about your debts with friends or relatives you trust, but don’t worry if you think you can’t do it – this can be a difficult topic to bring up. . The most important thing is to make sure you get professional debt advice from a debt counselor who will listen to you and help you cope with your situation.

3. Take action and manage your debt

The sooner you start paying off your debt, the sooner the problem will be resolved. Your first steps should be:

4. Restore your confidence

Taking action also has the added benefit of giving you a sense of accomplishment, and you will soon begin to see that your debt is a problem that you can overcome.

So if you feel like your debt is a huge problem, or something you can’t handle, remember that taking small steps will help restore your confidence.

5. Get help with your debt.

There are many different ways to get out of debt, and a few charities can help you decide which option is best for you. We recommend the following organizations:

You can also consult our debt directory for more sources of help.

6. Address the stress of your debt

If you are struggling with growing debts, you may also have experienced some degree of stress, anxiety, or even depression. Concerns about debt are very natural and very common.

There are some simple steps you can take to help yourself relax. It is also important to remember that your debt is a problem that you will overcome, and that if you act now, in a few years, your debt will be a distant memory.

So while you are dealing with your debt, remember to:

7. Tackle the psychological aspects of debt

Your debt can be related to your emotional or psychological needs. For many people, spending money is a way to cheer up, reward yourself, or catch up on disappointments.

For others, debt and depression become closely linked, with debt fueling depression which in turn fuels the desire to spend. For some, shopping is addictive, which can be as difficult to quit as drinking alcohol or using drugs.

If you know that your spending habits are affected by your emotional or psychological state, you may want to seek advice. Talk to your GP, who can refer you to a counselor.

8. Find Your Way Away From Debt

Debt is a problem you can solve. As you take the first steps towards settling your debt, you’ll start to feel less stressed and more in control.

As your debt becomes manageable, remember to take care of yourself by eating well and exercising regularly. Emotional or psychological scars from debt may also need to be treated – but help is available.