There is an endemic harassing many of us. It is known as debt stress.

Credit card corporations and retail stores are making it easier and easier than ever to retain credit. They have no problem agreeing to generous credit limits as well. They are anxious to exploit your want for immediate indulgence. However all this “kindness” from the credit companies comes with a price. You can almost always count on very high interest rates and minimum payments that hardly place a dent within the debt you owe.

There are approximately 30% of us who do not own a credit card. However, people who do, have almost four of them. Each of those credit cards have an average interest rate of 17%. Paying solely the minimum payment means that it would take years to pay every card off. Unfortunately, all of this debt is causing us a lot of unneeded stress and health related concerns. Mental disorders, migraines, heart condition, high blood pressure, weight gain/loss, sleep disorder – are just a few of the by-products of debt related stress. For some, spending/shopping is an addiction, similar to alcohol, drugs or gambling, and it must be treated in much of the same ways.

What are you able to do regarding your overwhelming and out-of-control debt? Here are some suggestions to assist you regain management of your debt and your health:

• Seek the recommendation and navigation of a credit counselor.
• Contact your creditors. Several can work with you to line up financially possible payment schedules.
• Reduce your spending and stop acquiring new debt.
• Use your debit card instead of your credit card.
• Use cash in a savings account that is earning interest to help pay down any high interest debt you may have.
• Remove your credit cards from your wallet
• Pick your smallest debt and pay it off, moving on to the next smallest debt.

It is possible, with lots of discipline and determination, to lessen your debt and regain your personal health. It starts with recognizing the issue and moving on from there help yourself.