Debt thrives on fear, but a little bravery goes a long way
We talk a lot about fear this time of year. But for too many people, their biggest fear isn’t a ghost, monster, or anything else out of a scary movie—it’s checking their bank account, looking at their credit card balance, or opening an ominous letter from a debt collector. You may not want to look because looking will ruin your day. But the consequences of not looking are much more frightening.
We get it. Dealing with debt can be scary—but it doesn’t have to be. Debt thrives on fear. A little bravery can go a long way toward getting your finances back under control.
Below are some tips for getting on top of your fear of facing your finances. For more information, check out attorney Ben Matthews’ podcast, Debt Sucks.
Don’t be ashamed of your fear
Remember, your “freeze” response when you’re about to open your banking app or check your balance at an ATM is your brain trying to protect you. That doesn’t mean you’ve failed or that there’s something wrong with you.
Financial fear is normal. You’re far from the only one in this boat (more on that in a moment). Name it, experience it, and then keep moving forward.
Use the “peek through your fingers” method
When you’re facing a monster, real or imagined, it helps if you don’t have to look at the whole thing right away.
You don’t have to pay off everything today. You don’t even have to look at everything today. Small steps can add up to bigger victories.
So, take a few minutes and check one account. Open one bill. Give yourself time and space to process, and give yourself a treat afterward.
Use the right tools instead of figuring it out on your own
Again, you’re far from the only person to deal with overwhelming debt, and you don’t have to reinvent the wheel. Check out the tools we’ve made available through Debt Sucks and use them to get a handle on your budget.
Make money time your calm time
Debt is scary because it represents a loss of control. You can fight back that fear by taking control of your environment. Set aside time and a comfortable space, grab your favorite beverage, and relax. Look at your bills and your budget in the right headspace, and you’ll have a fighting chance.
Say no to FOMO
We’ve talked a lot about the fear of looking at your debts, bills, and bank account, but there’s another type of fear that drives debt problems: fear of missing out (FOMO). You see your friends going on expensive trips, dancing at concerts, or living their dreams, and you feel like you have to be just like them—even if it means spending money you don’t have.
FOMO is tricky because it feels like motivation, but it’s actually fear wearing a different costume, not unlike many a horror villain right before the big twist at the end. Remember, your goal is financial peace, not the glamorous lifestyle you see on social media.
Take the first step today
Here’s our challenge to you: take one step toward financial freedom. That might mean looking at one bill, starting a budget, or having the dreaded conversation about money with your spouse or partner. Or, if you’re drowning in debt and need a lifeline, it might mean talking to a bankruptcy lawyer about your options.
Bankruptcy isn’t a failure; it’s a fresh start. Give us a call or contact us online to talk to an experienced bankruptcy attorney at Benjamin R. Matthews & Associates, LLC. We’re here to listen—no judgment, no pressure—and explain your options.
"In a very turbulent time in our life Ben was our rock. We were told everything that was going to happen before it happened. Ben has a calming nature and truly cares about his clients. We are truly grateful to have had Ben represent us." – Nettie M., ⭐⭐⭐⭐⭐