4 Signs That You Might be in Denial About Your Debt

Posted under by admin

Someone once told me the word denial stands for “don’t even know I am lying.” I see it as refusing to acknowledge the existence of a problem. Money is a major area of denial in today’s society. We do a lot of spending while we are looking the other direction.

In most cases of overspending, the money is being spent to a fill a void in that person’s life. Money gives people the feeling of power and control. Spending money helps people temporarily forget about things that they are trying not to think about. In most cases, incurring debt brings a whole new set of problems.

The following are some signs that you may have a problem with financial denial. The statements were taken from the article, “In Denial Over Money? Yes You Are�, by MP Dunleavey.

• You encounter the same financial pitfalls on a regular basis and you can’t figure out why (always short of cash, repeated late payments, etc.).
• You find yourself spending money when you had made the decision not to (charging another pair of shoes, eating out when you had made the decision to cook at home, etc.).
• You find yourself stuck and you can’t figure out how to get ahead (unable to reduce your debt, or the minute you do, you’re right back in it again).
• You find yourself using stupid rationales to explain your compulsive spending.

If you see yourself in some of the behaviors listed above, you may want to think about getting some debt counseling. These counselors are experiences at helping people with debt problems. They can develop a debt management plan that will help you get your debts paid off and they will also teach the principles of staying debt free.