The one thing I've learned about dealing with credit and debt is that our relationship with money is intimately connected to our own psychological and emotional strengths and challenges. Our relationship to money, much like our relationship to food, sex and self-image is a direct reflection of our internal state of being. Concordantly, we can see "binging" and "restricting" behaviors in our financial lives and finances can be an avenue of abuse, neglect, and emotion-al developmental processes as well. Ironically, even though credit equates to "having it" and debt to "not having it", credit and debt can have similar challenges and difficulties associated with each. As an analogy, if one has challenges with "power", then that person will have challenges whether they have the power or don't have the power in any given situation. In summary, the best way to get better with money is to get better with you. One of the ways to handle the stress of credit or debt is to more closely examine your relation-ship with money, what it means for you and to become more mindful of what it's like to spend it, save it, have it, or long for it. Some of the deeper meanings that money can have for people can include power, love, freedom, manifestation, abuse, abandonment, hardship, or oppression. Once you realize the deeper meaning it holds you can work to increase your capacity to separate "money" from the experiences you value, and this insight can inherently lesson the stress associated with it. With this said, money is often one of the most difficult psychological pawns that we navigate in our lives and credit or debt undoubtedly contributes to physical health, spiritual lessons, and pervasive systemic motivations. So, whatever you think taking care of yourself looks like in relation to money, double it.
Financial stress significantly affects mental health and decision-making, often causing anxiety, fear, and helplessness. This emotional turmoil can cloud judgment and exacerbate financial issues. To manage this stress, it is crucial to adopt a multi-faceted approach that includes education about credit, debt implications, and financial management strategies, empowering individuals to make informed decisions and alleviate their fears.