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How do you deal with the anxiety and stress when you are drowning in debt?

Question by Tornado: How do you deal with the anxiety and stress when you are drowning in debt?
We are $ 45,000 in debt, two house payments behind, and I have a commission only job. We have two children and I am so stressed that I am having chest pains, panic attacks, and am having trouble concentrating. I am the only income earner in my household and am trying to keep afloat and not lose our home. How do I keep myself up and keep this from eating at me every single minute of the day?

Best answer:

Answer by Einsteinetta
First of all, please don’t think I am not sympathetic. I understand it must be really tough. However, that being said, let’s look at changing the situation. Changing the situation will alleviate some of the anxiety and stress.

#1 – Believe that God will take care of you and your family. He always has, so far, hasn’t He? Talk to Him about it.

You’ve probably done a lot of this, but two heads are better than one, just in case you missed something:

#2 – Sell anything you can on Craigslist or E-Bay.
#3 – Look for ways to cut spending, like use washable diapers instead of Pampers, cook dry beans instead of using canned or frozen foods.
#4 – Eat a lot of beans and rice. Give the kids milk. Use oatmeal instead of expensive, sugary cereal. Make your bread instead of buying it. It’s healthier anyway.
#5 – Find a part time job of any kind to moonlight. Even minimum wage if it’s a steady income is helpful. If you make only $ 20. a day every week day, you’re making $ 100. more a week. Or have your spouse (if you have one, and if he or she can) find some kind of a job on a different shift than you have. You take care of the kids while (s)he works and vice versa. One of you get a weekend job.
#6 – Hit the bills with everything you can afford.
#7 – Shut off cable tv. and even extra phones, and any other luxury you have.
#8 – Try to sell your house and rent something smaller, less expensive.
#9 – Check with a local home lender and see if you can re-finance your home or if there is a program to ease the problem.
#10- Read Malachi 3:10 & 11 in the Holy Bible and follow it. It will seem like it would be backwards, but it works!

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{ 2 comments… add one }

  • srsly? July 29, 2013, 7:40 pm

    Life is like a roller coaster. You have to hang on. Most important though, is to believe that this situation is serving to change you and open the door for another opportunity.

    A commission only job is not enough security -it’s feast or famine and not long term security by any means. My dad worked in technology for the government at the pentagon for 25 years, he never invested in the stock market, he never spent a lot on cars or vacations. Me, I lost 80%of my portfolio in 6 months, my millionaire friends are filing bankruptcy. Who’s the smart one? – My dad who squirreled away money. He’s as happy as a clam right now.

    Go onto monster and find a job that pays a moderate wage and offers insurance. Don’t stay in panic mode thinking you’re going under because you are not.

    I just left my own business where I was making $ 0 – 10K a month. In a new job I have (accounting clerk), I am making the salary I made 15 years ago. I’m thrilled with it.

    Change is about to happen. It’s always darkest before dawn. Srsly. You’ll see.

  • LeeD July 29, 2013, 8:38 pm

    I was in a similar situation years ago and actually went to the emergency room thinking I was having a heart attack! Turns out it was a panic attack!

    One thing you must do is not focus on the negative – the debt and how hopeless your situation must seem. Focus on the positives like how you have a loving family and you are all in good health. Every time you start to think about the debt or get stressed out, take a deep breath and think about something that you are grateful for. I know it sounds hokey but it works.

    The other thing you might want to do is seek therapy. This worked wonders for me as there are certain techniques you can use to relive stress and anxiety.

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