Coping with financial worries

One of the hardest things for those struggling financially is admitting that they are in trouble. We get it; it can be hard enough to admit it to yourself, let alone to someone else. However, it is so important that you do not suffer in silence.

If you don't think how your situation is affecting you is reason enough to share, there is another reason - your loved ones! You may think it doesn’t affect the people closest to you, so there’s no need to tell them, but there will undoubtedly be noticeable changes in your behaviour - leaving loved ones wondering.

First, you must never forget that you are not the only one, and social media is not real life!

Anyone in debt will tell you that shame and embarrassment are some of the first emotions they have to overcome. Society has done a great job of inducing these emotions. For some, debt makes them feel they have lost control; others think they have failed—the list goes on.

We’ve seen this on more occasions than we care to mention. Feeling vulnerable and isolated, those struggling with debt can begin to think that they are the only ones on the planet in this situation; they are entirely alone.

To add salt to the wound, a quick scroll through Instagram or Facebook shows image upon image of happy people spending money, jetting off on luxury holidays, eating out at expensive restaurants, buying the latest luxury kitchen equipment, or getting the must-have bouncer for the baby. It can make you feel like everyone else has it all together—everyone but you!

Pick someone you trust to speak to about your situation as early as possible.

Whoever came up with the age-old saying ‘A problem shared is a problem halved’ wasn't wrong.

Simply sharing your situation with someone close to you who you can trust will take a weight off your mind. Unfortunately, many people make the mistake of underestimating the people around them or may not want to feel judged.

When these people pluck up the courage to share their problems, they usually receive a response like:

"Why did you not talk to me about this earlier?" "Why did you just suffer in silence?"

People who are close to you care about you (that's why they are close to you in the first place). They care if you are suffering and would want to do all they can to stop you from feeling this way. When they find out, they are usually more upset that you didn't feel you could talk to them about something bothering you so much.

We know it is easier said than done, but you must shake off your ego and face reality.

Putting your ego first prevents many people from admitting to someone close to them (like their partner) that they need help. This is especially prominent when the other person seems to have their finances in order, and your situation does not measure up to theirs. Remember, if your loved one doesn’t know what’s happening, they cannot help or support you. Trust and honesty are essential ingredients in a healthy relationship.

We encourage you to open up to your partner; the vast majority of partners in a relationship will show you why you are in a relationship with them. Unwillingness to open up about your situation may manifest in other ways and cause strain in your relationship.

Act early!

Don’t let your situation dwindle to the point that sharing your situation is an unbearable thought.

Some people find it difficult to admit they can't afford something for their partner, or in other cases, they will overspend to impress their partner, even if they cannot afford to do so. They make incorrect assumptions, assuming excessive spending is important to their partner. They allow the situation to worsen to keep up the charade until the conversation about financial difficulties becomes unavoidable. When their partner discovers the sheer extent of their debt, it can be enough to affect the relationship seriously. This is not always because of the debt but because the person has been masquerading as financially sound when the reality is the opposite.