We know that dealing with debt can be stressful. We’re here to help.
The events and upheaval of recent years has meant that many of us are on financially unsure footing. Losing a job, being made redundant, or finding yourself under mounting debt, can have a huge impact on your life, your family’s life, and your mental health. It’s not uncommon to experience impacted sleep, or to start acting out of character, when things start to feel overwhelming.
When things start getting on top of you it is important to remember you are never in this alone. If you are a customer of Cabot we urge you to contact us so that we can help make things more manageable. In the meantime, here are six more things you can do to make things a little easier…
Worrying feels like it uses up a lot of energy, doesn’t it? When your days are full of anxiety and money worries, you can feel lethargic and unmotivated as a result. While getting up and about can feel like a struggle, a brisk walk, a kick-around with mates, or just a 30-minute swim can help you feel more positive and better equipped to face your challenges. The type of exercise you do isn’t important, what is important is to get up and get moving because you will feel better for it, and what’s better exercising doesn’t have to cost you a penny.
Talk to someone you trust
All of us can likely recall a time when we felt such acute stress over a situation, only to feel infinitely better after talking to someone about it. Reach out within your network of friends and family and talk to someone whose opinion you value and trust. Your network is not there to solve your problems for you, but by lending an empathetic ear they can help to lessen the burden and give you the space and opportunity you need to talk it through and highlight possible solutions.
You’re not helping anyone, least of all yourself, by bottling it up. Keeping your worries to yourself will only make them appear bigger and more challenging than they really are. Turn to your friends, seek their advice and support when you need it.
Maintain a routine
Start your morning as you would if you were going to work or an important meeting. Rise on time, write a To Do list, shower, get dressed and eat a good breakfast. When we’re feeling the persistent effects of stress, diet can go out the window resulting in poor food choices and skipped meals, so make sure you prioritise delicious and nutritious meals as much as possible.
Thinking proactively is one of the surest ways to beat back anxious thoughts. Make a plan and execute it. If that means applying for a new job, then brush up your CV, speak to a recruitment or temping agency and start searching job sites for roles that suit your experience and interests.
You can also use this time to reach out to previous employers and colleagues to see if they know of any roles that might be a good fit for you. If you have a website or social accounts for your work, now is also the time to get those up to date so that potential employers can see your most recent work.
If your worries are to do with rising debt, then speak to your creditors and be open about your situation. If you are a customer of Cabot we will work with you to create a repayment plan that’s manageable for you.
Creating a budget - and sticking with it - will help you better manage your spending and keep you on track to make your repayments. It’s a proactive step that’s not to be missed if you want to avoid the anxiety that sets in when your finances spiral out of control. If you need help establishing how much you can afford to regularly repay towards your debt, check out our Budget Planner; a free tool that will help you find an affordable repayment plan.
Acknowledge every win
When we are anxious, it is so easy to only focus on what’s going wrong and ignore the successful things in our lives, or the things that make us happy. Shift your mindset with a simple list and document your daily wins - big or small.
Maybe you got the kids out of the house and to school on time, maybe you finally booked that doctor's appointment you have been putting off, or you found time in the evening to make a meal from scratch. Perhaps you have sent out your revamped CV and put yourself forward for a new job. Whatever it is, if it’s a win, write it down and revisit your list throughout the day so you can see just how much you are accomplishing without even realising it.
There are resources available to you to offer you further help should you need it. The charity Mind is an excellent resource for mental health advice and support, while PayPlan is a free charity that deals specifically with debt issues. If things ever feel too overwhelming, reach out to one, or both.
Lastly, if you are a Cabot customer, contact us. Let us know if you have any issues with your repayments or if your situation has changed. Sometimes, just hearing how other people have come through a similar situation can help you see a light at the end of the tunnel, so take a look at our customer testimonials to see how we have helped others repay their debt.
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