Some people feel shamed or embarrassed by their credit card debt. By receiving debt counseling from positive and upbeat credit counselors, you can overcome fears associated with budgeting, debt and money management. According to an article by nerdwallet.com, most young people realize that credit card debt creates a burden. However, it is common for people starting out to rely on credit cards to help maintain their lifestyle. Experts suggest seeking debt counseling to get off the carousel of balance transfer credit cards. By agreeing to a debt management plan, you consolidate all of your credit card debt so life becomes less stressful. Many consumers feel an immediate sense of relief once they identify a doable plan to face debt head-on. According to nerdwallet.com, 39 percent of consumers say felt ashamed of their credit card debt. While it’s healthy to feel some regret so you make better choices, the best plan is to get out of debt with a positive attitude.
Owning up without feeling stigma
Carrying a lot of credit card debt comes with a social stigma. While it is important to own up to any overspending habits and poor budgeting and savings habits, the key is to learn and adopt better habits. In fact, if you don’t own up to your errors, experts say you could start to ignore your personal finances. With debt counseling, you stay motivated to tackle your debt instead of ignoring it. Also, most creditors will agree to a lower interest rate when you start a debt management plan to pay off what you owe in less time.
Taking action to get out of debt
Some people perpetuate their debt problem by taking no action or simply transferring balances from one card to the next. While you could enjoy a lower interest rate for a window of time, most people run up even more debt until they put their credit cards aside. Don’t shut down because of shame. Instead reach out for help from certified and trained credit counselors who withhold judgment but don’t withhold support.
Letting go of the shame
In one study, experts found people felt less shame about their credit card debt when they determined their money beliefs. When you stay practical and level-headed about personal finances, you more easily achieve your goal of a debt-free life. It is important to separate how you feel about yourself and how you feel about your credit card balance. Debt counseling often increases feelings of hope.
At Christian Credit Counselors, we help you create a sound budget, save money, improve your credit score and learn to reach your financial goals. Talk to us about a debt consolidation plan to get out of credit card debt 80 percent faster than other methods. For more information about debt counseling and overcoming shame related to money issues, please contact us.