Debt can be very difficult to talk about – particularly with the people who are closest to you. Money and financial stress have the greatest impact on Canadians, more than any other type of stress. Roughly 48% of Canadians say that they have lost sleep due to financial worries – this includes dealing with high debt levels. One of the biggest mistakes people make when seeking help with their debt is waiting until it’s too late. Debt is a very large burden to carry on your own. Just like any other type of stress, it’s important to find ways or people to talk to who can help you navigate your feelings and your issues in a safe place. In Canada, discussing debt and financial worries has always felt taboo, but it’s time to start opening the conversation more. These are a few ideas about how to get the conversation started discussing your debt situation.
1. Pick the right person to talk to.
If you’re scared about talking about your debt, your first step is finding someone you can talk to who you can 100% trust. This can be your spouse, a family member, your pastor, or a close friend. If you’re still uncomfortable about talking about money with friends or family, you can always start by speaking to a third party who can help you sort out your feelings, such as a therapist or psychologist. Whoever it is, just be sure they are trustworthy & they will do what they can to help and support you.
2. Talk about your goals.
When talking about your debt to someone, it’s good to let them know where you currently stand. However, also talk to them about what your goals are and what progress you’ve made so far. Where do you want to see yourself in a year? or 2 years? or 5 years? Be realistic with your goals and work together to create a plan for the future.
3. Start budgeting.
There are many reasons why people have so much debt. Whatever the reason may be, this is the time when you need to start budgeting and creating a spending plan. Evaluate your finances carefully and see where your money is going. You’d be surprised by how quickly a daily $5 coffee adds up.
4. Ask for support.
Again, your finances shouldn’t be a taboo subject – and neither should asking for help. You’d be surprised by what can happen if you just open your mind to help from others. Maybe the person you choose to speak to can help you financially, or even if they can’t, they can offer you advice from their own experience with debt & be there for you with moral support. Either way, don’t feel as though you need to deal with your debt on your own. Find help wherever you can.
5. Let GetMeDebtFree get you started.
With our industry knowledge and experience, we have searched out who we believe to be the best companies in Canada to help our fellow citizens get out of debt. If the company does not pass our Gold Standard Test, then we will not recommend their services. If you are looking for the best advice on how to consolidate your debt, fill out our contact form, and we will be sure to refer you to a company that we approve of. Let it be clear, we do not mine your data nor sell your information; we are simply looking to connect people who are serious about dealing with their debt to a professional who is best suited to help make that happen. You have nothing to lose and much to gain, so fill out a contact form and take that first step to a debt-free future.
