Are you in debt? Do you have a problem with controlling your indebtedness? Until J Money over at Budgets Are Sexy posted about Debtors Anonymous, I had no idea it even existed. It does, and for good reason. Too many lives have become infested with debt and too many lives have been destroyed because of it. Is this you?
Are you worried about your future? Do you have a plan? Are you willing to make some sacrifices in order to make that plan work? If so, that is excellent news because I know you can do it. I am a recovered debt-a-holic, and making sacrifices and better financial decisions has really made a big difference in my life.
If you feel your spending habits and impulsive decisions are out of control, you may need to look for something a little deeper and more personal. You may need to surround yourself with people just like yourself, who struggle with fighting the urge to splurge. It’s another form of accountability and one that some people really need to take advantage of. Of course the first step is to admit you even have a problem.
I believe all debt is bad debt, but I do not believe all debt is born to impulsive irresponsibility. Good examples of this are house debt and student loan debt, BUT if you have loads of consumer debt, maxed out credit cards, second mortgages, home equity loans etc., and you still deny that you have a problem…YOU DEFINITELY HAVE A PROBLEM! It is a very serious problem too, so it’s important to know about the help available to you. Visiting Enemy of Debt may not be enough.
As most of you probably know, before I ever knew there was a debtor’s anonymous, I created 12 Steps to debt freedom that were loosely based on the AA 12 step program. Now I want to share with you the 12 Steps program that DA offers. And for you stubborn ones that may refuse to click the link out of fear of what you might find out, here is a quiz you can take that is found on debtorsanonymous.org.
- Are your debts making your home life unhappy?
- Does the pressure of your debts distract you from your daily work?
- Are your debts affecting your reputation?
- Do your debts cause you to think less of yourself?
- Have you ever given false information in order to obtain credit?
- Have you ever made unrealistic promises to your creditors?
- Does the pressure of your debts make you careless of the welfare of your family?
- Do you ever fear that your employer, family or friends will learn the extent of your total indebtedness?
- When faced with a difficult financial situation, does the prospect of borrowing give you an inordinate feeling of relief?
- Does the pressure of your debts cause you to have difficulty sleeping?
- Has the pressure of your debts ever caused you to consider getting drunk?
- Have you ever borrowed money without giving adequate consideration to the rate of interest you are required to pay?
- Do you usually expect a negative response when you are subject to a credit investigation?
- Have you ever developed a strict regimen for paying off your debts, only to break it under pressure?
- Do you justify your debts by telling yourself that you are superior to the “other” people, and when you get your “break” you’ll be out of debt overnight?
How did you score? If you answered yes to eight or more of these questions, the chances are that you have a problem with compulsive debt, or are well on your way to having one. If this is the case, today can be a turning point in your life.
Getting out of debt can be a very overwhelming journey. You shouldn’t just assume you are alone, or that you have to do it all by yourself. There are PLENTY of people out there just like you, and a hard journey is a whole lot easier when you have someone that can relate to you, and can be the support you need to get through it.
I know that Alcoholics Anonymous has been super successful and the reason is because it provides a wonderful support group to help you do something that you have been struggling to do on your own.
It’s at least worth your consideration if you are in that dark financial place and you want to find some light and some hope at the end of the tunnel.