Debt keeps you trapped for years if not for life when you do not have a plan of action to get out. Men feel a sense of shame with debt for not being able to provide for their family and women fears for the family in general. One of the major causes of break up in families is debts, money problems.
How did you get here?
You may not be looking closely at your spending because you charge things on credit only to realize at the end of the month when you get the bills how much you have spend.
You may be afraid to open the bills each month and put them under the bed hoping to deal with them later when you get more money except your spending habits are out of control.
Who is to blame
You may be angry and blame your partner for not following through with your agreement and or your partner may be blaming you for the debts you have accumulated.
You may not realize that an underlining theme is underneath this blaming that is going on with you and understanding the hidden emotions that is attach to it can help you to move toward getting out of your debts.
Taking revenge
You may decide to take revenge on your partner because they did something wrong and so you decide to go out and spend only to create more debt which affects both people.
Your desire is to be heard and going out and spending is being heard but not in the right way it keeps both of you more separated from each other.
Borrowing from your mortgage
Borrowing against your home to pay of your credit card bills or go on vacation is still borrowing.
Imagine you take out a second mortgage hoping to reduce your debt only to keep you in more debt.
When you borrow from the debt you already have, to pay of something else and are not able to do so you put you and your family in more debt because the lender can take your home away.
Create a cushion
When you are able to put a little amount of money aside for an emergency such as a laid off, or a vacation, or going to the hospital this can help you to sleep easily at night.
This fund can be an ordinary savings fund in case something goes wrong.
You are allow to use it and as soon the emergency is taken care off you put back the money into the savings and it does not have to be a lot of money just enough to make ends meet.
Having discipline
Paying of debt can be very difficult because you may feel limited, deprive or a feeling of losing. It will take work and discipline to get your debt under control which will give you a sense of freedom once this is accomplished.
Conclusion: Having debt can stop you from living the life you want because you are too busy paying off your future income.