Tuesday, September 4, 2018

Living Your Family Life (Without Feeling Constantly In Debt)

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It is the grim specter that can cloud your entire life. If you are trying your best to save money, and you've got numerous outgoings, but also, you've got children that need clothes and the essentials in life, you can feel like you are chasing your tail endlessly. And even if you are in debt, you still need to live your life. You don't want to look back on your life in 30 or 40 years’ time and think that all you did was stress out about debt, which clouded every single important milestone in your children's lives, from graduation to their wedding day, and so on. This is why we need to focus on living our lives with our family, and even if we are in debt, that we don't feel strangled by it. How can we do this?
Accepting You Are The Reason You Are In Debt
Blame is something that can tear us apart. We place blame on everyone else apart from ourselves, and if we live life like this, it doesn't make for a happy existence. Even if you are unable to get out of debt right now, by accepting that you are the root cause behind this, not your family, you can begin to take positive steps to fix this. It can be your fault for various reasons, but at the end of the day, it's you that didn't pay the money back to the lender, or on time, and so, the debt accumulated. It's a very difficult thing to admit, but once we finally face the facts, it's the first step to taking the bull by the horns.

There Is No Shame In Asking For Help
When we feel in debt, and we have a family but we don't want to burden them with these issues, we can feel like we have to take on all of this stress ourselves, but remember, we need to feel liberated from this stress too, and know what is out there to help us. But a lot of people feel that there is some sense of shame in asking for help. But there are numerous resources out there to help us. There are organizations like Bonsai Finance that shows you how to get loans with no credit check, and professional firms can give you money saving advice. The fact is if you are ill-equipped to deal with the debt, and the total amount you owe hangs over your head constantly, it's at this point where you need to turn to someone else for help. It doesn't have to be a professional organization. You could ask a family member for help, in which case, if they can lend you the money, and then you can pay it back with a payment plan, it gets you out of the hole in the meantime, and while you are indebted to that person, you are still going to be adamant you will pay them back. In the meantime, you can live your life without feeling anxious or depressed. But in the meantime, this is where you can develop a more positive lifestyle.

Learning Healthy Living Habits
There are numerous resources online that show you how to live on a budget, and it can be very difficult when you have children that need school uniforms, Christmas presents, birthday presents, and so on. But if you still believe that they need “everything”, then it's time for you to curb your lifestyle. On the other hand, there are so many children out there that are understanding of the fact that their parents only earn a certain amount of money, and therefore can't have everything they want. This is something that can take some time for the children to come around to, but it's a valuable life lesson that we all have to learn, and the fact is it is far better for us to live within our means. But, because of credit card debt, and our children pestering us for the latest toy for Christmas, we can very easily get into debt. So, this could be something. We can communicate to our family as a lifestyle habit.

Passing These Habits Onto Our Children
It can be very hard to pass these habits on to our children, especially if they are too young to understand that they can't have everything. But, we can teach them certain money habits, for example, by giving them an allowance in exchange for certain chores. But also, by instilling sensible money habits into our kids, and encouraging everybody within the family to live within their means, we are setting an example for them that they will carry throughout life. It can be very hard to pass these habits on to our children, especially as we are the ones that got in debt in the first place, but at the same time, you don't want them to think that they are the reason that you've had to spend so much money to give them everything they want. It's a very difficult balance, and so, if you have any shred of debt, there are ways for you to get out of it, but it's important that you've learned your lesson. In which case, if you have children that want the moon on a stick for Christmas, it's far better for you to firmly say “no” or limit them to a budget. Of course, this isn’t ideal, but if you don't want to spend 12 months paying off Christmas or birthday debt, and in addition to this you are facing utility bill price hikes, you will always feel in debt. It's far better to draw a line in the sand early on in life, by living within your means and passing this on to your children.

Feeling in debt is never a good sensation, and if you have dependents, this pressure to deliver the goods all of the time can get the better of us. But, it's important that we learn to live a happy life despite the debt we are in. If you are taking the positive steps to getting out of debt, but also by implementing certain living habits, but making this the norm within the household, it helps create a positive baseline to improve upon. At the end of the day, once we’ve got out of debt we will feel happy, but we don't want to feel that we've missed out so much of our children's lives either.  

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