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5 Tips for Dealing With Debt Depression


Debt and the stress that comes with it are at an all-time high, perhaps due to the high cost of living, higher house prices, a higher debt-to-income ratio, high-interest rates, student loans, and so on. Overwhelming stress can give rise to mental conditions like depression and anxiety and thus should be addressed. If you’ve been feeling like you are up to your eyeballs drowning in debt and have started experiencing some stress-related symptoms like tension headaches, losing sleep, and maybe a poor appetite or difficulties with motivation and productivity, it’s important to know there are ways to navigate these conditions.

1. Know the Facts

It’s depressing to constantly get calls and messages from your credit providers while having a family meal or even at work, with what often sounds like insurmountable threats. The good news is, there currently aren’t any debtors’ prisons, so no, you will not be going to jail over your debt. Depending on your location, you can research what the homestead laws are. In some states, the debtors can’t lean on your residence due to consumer debt and a lawsuit; they also can’t garnish your wages and taxes.

Having facts in a row helps you rest easy, knowing you’ll still have your essentials and that you don’t have to fret about things that won’t happen. Find out your options; filing for bankruptcy doesn’t have to be bad if it gives you a much-needed opportunity to get a fresh start. A lot of your stress can disappear by dropping some of the mental load on what you’re worried about.

2. Seek Professional Help

A debt problem is often a chicken-and-egg situation, an income problem caused by depression and anxiety. Symptoms of depression, such as sleep and eating problems, aches and pains, plus isolation, can debilitate an individual. This could lead to a downward spiral of not being well enough to work, causing an income deficit, plunging you into debt problems, and cutting you off from family and other healthy support systems.

According to the National Institute for Mental Health, social anxiety disorder can affect work, school, and other daily activities. It can be hard to make and keep friends, and crawling out of that alone could be a challenge, hence the need for professional help from both a mental and financial standpoint, which is the only way to end the vicious cycle.

3. Take Good Care of Your Overall Health

There can’t be mental health without overall health and vice versa. Make it a priority to get enough sleep, exercise, get out in the sun, and spend time with family and friends. Also, eat regular healthy meals. Morderndent.com found that 92% of adults have had diet-related cavities at some point. Indeed, you’re what you eat; if you constantly eat high-fat or sugar diets, there’ll be repercussions.

4. Come Up With A System Instead of Setting Goals

While goals are binary, either you achieve the goal or you don’t, and if you don’t, that can interfere with or stop you from going forward. On the other hand, a system helps you reprogram your brain to do things since it doesn’t require willpower or even thought once in place. Principles, like not getting into more debt or not using credit for everyday expenses, can help you do what you should without much effort. As cited by Mckinsey & Company, in 2020, 48% of surveyed Americans admitted to using Grubhub, Uber Eats, DoorDash, or Postmates for take-out, some of them multiple times a day. You can choose to eat home-cooked meals rather than ordering out to save money.

Wherever you’re on the journey to a healthy and financially stable you, keep taking one step at a time; there is hope. Right now it may look like you’ll never get out of the debt hole you’re currently in, but if you follow the above strategy and stay positive no matter what, you’ll soon be in the black, and the depression will be gone.

Inflation, Vacation, and My Big Gambling Win


My casino win

My partner and I are still in Boston visiting family for a few more days. Massachusetts is beautiful this time of year, but coming back has definitely reminded me why we left. Everything here is so much more expensive!

Yesterday my dad treated the family to juice, smoothies, and a snack after a long walk. For just two smoothies, a juice, and a sandwich, the total was $50. That order would’ve cost less than half where we live in Michigan, so I had sticker shock to say the least! Inflation has really hit this area hard.

I went with my parents on a grocery run and the total was $180. In the Midwest, that same cart of groceries would’ve cost under $100. According to my family, housing and utility costs in the Boston area have also skyrocketed. After visiting Massachusetts, I’m even more grateful for the low cost of living we enjoy in Michigan and won’t take it for granted.

Taylor Swift Concert

Speaking of inflation, concert tickets have also become so expensive in the past few years. The Taylor Swift tickets I bought on the resale market for $800 (ouch, typing that out still hurts!) a few months ago finally got delivered to us this week.

I was nervous I wouldn’t get them because I’ve had issues with resale tickets in the past. I traveled to Las Vegas to see a Sara Bareilles concert with my sister a few years ago and our tickets never got sent to us. But luckily everything worked out with the Eras Tour and my sister and I will definitely get to go.

However, for a few days we contemplated putting our tickets back on the resale market. We found out that the going rate for tickets in our section is about $1,500 each, so we could make a nice profit if we resold them. But in the end, we decided that the memories from this concert will be priceless, so we’re going to keep them.

Saving Money on Vacation

From the pictures I’ve seen on social media, it seems like everyone dresses up for the Eras Tour. Fans usually pay homage to one of Taylor’s albums with their outfits. My sister picked Lover, which has a dreamy pink and purple cloud aesthetic. I opted for Reputation and am wearing all black and doing snake face makeup to match the album’s snake motif.

Instead of going to the mall to get our outfits, we headed to the thrift store today to save money and got some really cute, affordable pieces. We’re also planning to tailgate before the concert with some food and drinks from home so we don’t have to buy overpriced stadium food.

Some other ways we’ve been saving money on this leg of our vacation is by enjoying family dinners at home instead of going out to eat. So far we’ve had steak on the grill (with portobello mushrooms for me since I’m vegetarian), burgers, and a vodka tortellini dish.

My spouse and I also met up with a friend and brought a picnic instead of eating out. We’re hanging out with them again later in the week and going to their apartment for dinner instead of a restaurant to save money. For pocket money on this trip, we used interest we earned from our high-yield savings account, so we’re not racking up any kind of credit card balance.

My Big Casino Win

I’ll also be able to cover some of our vacation costs with my big gambling win. My mom likes to visit the local casino a few times a year and wanted to go while I was here. I usually don’t gamble, but went to spend quality time with my mom. I made sure to set a strict budget and only planned to gamble $25.

Luckily I hit the jackpot after spending just $10 and came away with a $190 profit! I didn’t press my luck and continue to gamble, which is how my mom ended up losing money. I’m using my win to help pay for gas and food on our drive home.

I’m curious to know how BAD readers feel about gambling. Do you ever buy lottery tickets and gamble, or do you view it as a slippery slope that can lead to financial loss and debt? Let me know in the comments.

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