Run The Money
Follow Run The Money

Reduce Debt Stress: 8 Ways To Live Healthy

  • October 3, 2018

If you're reading this, I'm earning money in some way. I was compensated with money and/or product. Thanks for helping to feed my family. I also may have a financial interest in companies named. Please see our disclosure for more information. Also, any advice provided is for informational purposes only. I'm not an accountant, lawyer, doctor, fitness expert, or nutrition specialist. So, talk to a professional before acting on anything you read, watch, or listen to below. Get your own advice and do your own research. Email me at [email protected] with questions.

Reduce Debt Stress: 8 Ways To Live Healthy


Debt is stressful and pervasively chronic.

It never seems to go away despite your best efforts to clear it by making regular monthly payments.

It is a major stressor that just doesn’t go away but you can still live healthy under debt. Today's contributed post will help us learn how to reduce debt stress once and for all.

All it takes is to know how to manage your debt by ensuring that it doesn’t run out of control, depending on how much you actually owe.

A small debt can easily be managed by keeping up with your payments while a large debt will need a more concerted effort combined with outside help from debt consolidators and credit counseling agencies.

Here are 8 tips to help you live a healthy stress-free life while struggling under the emotional effects of debt.

Understand How Exactly How Much You Owe

Start by making a list of everything you owe, your creditors, how much you are expected to pay per month, and the due date for each debt.

Your goal here is to understand how much you owe and how much you can afford to pay each month. You’ll then be able to see the bigger picture of your debt situation and avoid excessive stress. When you create a practical debt payment plan, you can pay it back with peace of mind.

A Guide To Paying Off Debt

Do you want to take paying off debt seriously and reduce debt stress?

Then, do yourself a favor and download our Pay Off Debt Guide.

Your wallet and budget will thank you.


Make Timely Payments Each Month To Reduce Debt Stress

One of the things that make debt a major stressor is late payments.

When you don’t make your monthly payments on time or miss a payment, you are charged a penalty, which makes the debt even harder to clear. Miss two consecutive payments and your interest charges coupled with other charges will increase and give you sleepless nights.

If you have problems keeping up with due dates, set an alert system on your smartphone to remind you a few days before the due date. Send payments as early as possible to avoid late payments.

Use a Bill Payment Calendar to Organize Your Payments

Create a bill payment calendar that tells you which bills to pay using which paychecks. Remember to include the next due date for each debt in the calendar as well as the date for each paycheck that you get.

You can use the same calendar for each month if you get paid on a monthly basis but if your paychecks come on different days each month then you’ll need to create a different bill payment calendar for each month.

Related: Good Debt vs Bad Debt: The Differences Between the Two

Strive to at Last Make the Minimum Payment Each Month

Avoid debt stress by at least making the minimum payment each month if you can’t manage to pay more.

Minimum payments may not be quite helpful in clearing your debts but they keep your debt from blowing up and maintain your account in good standing.

You’ll find it harder to catch up if you miss payments or even risk sending your account into default.

Pay High-Interest Debts First To Reduce Debt Stress

Make sure to pay all your debts but give priority to debts with high-interest rates.

For example, credit card debts have higher interest rates than most debts so pay them first because they may cost you more if paid late.

Create a debt list and prioritize the order you should pay them based on the interest rate charged.

Related: 4 Great Ways To Pay Off Your Debt For Good

Use Emergency Fund Sources For Little Expenses

You may not have access to savings while under debt but if an emergency issue crops up, you can always turn to urgent funding sources such as online payday loans or your small emergency reserve fund.

Related: Emergency Fund: Why You Need this 5 Step Savings Plan

Maintain Strict Spending Discipline

There’s a psychological term known as “violation response” which basically means the tendency to shop more for yourself so you can feel better about your debt situation. It’s a “what the hell” attitude that makes you spend more to feel better when you are overwhelmed by debt.

Don’t let your remorse feed your stress and lead you to more debt. Be disciplined in your expenses and avoid shopping with money you don’t have.

Are You Saving For Retirement?

Think about it:

Do you really have any clue how much you need to retire?

Probably not.

In our Saving For Retirement Guide, we highlight how much you need to save in your 20s, 30s, and 40s to reach your goals.

Now, think about this:

Can you afford not to read it?

Seek Help To Reduce Debt Stress

When your debt situation feels like it has run out of hand and you’re probably finding it hard to keep up with your monthly payments while taking care of other bills, this is a good time to seek for help.

Look for a reputable credit counseling agency, a debt consolidation firm, or a debt settlement agency to help you out. The debt experts can even negotiate with your creditors for easier payment terms.

Remember, debt doesn’t have to make your life a living hell if you take full control of your finances.