Relief at the end of the tunnel of debt.

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Relief at the end of the tunnel of debt.

Those of us that have been or are in serious debt understand how horrible it is, the terrible feeling of being trapped by debt with no relief in sight. Debt leads to bad credit which leads to bad loans which further immerse you in debt.

It is like a dark tunnel that slowly chokes you, what is especially sad is that only too often we ourselves are doing the choking.

In fact allow me to illustrate what debt is like with the killing technique of a boa constrictor. This snake is amazing it can kill anything up to the size of an antelope (or a man) and swallow it whole. Many believe that boas kill their prey by crushing them to death with their powerful muscles. That is untrue, as strong as boas are they cannot crush the ribcage of a large animal. What they do is constrict the ribcage from expanding. They wait for the prey to breath out, lowering the ribcage and then tighten their grip again. This causes the victim to in a way kill itself by breathing out and out, leaving less and less room for the ribcage to rise, eventually dying of lack of oxygen.
Often, with debt something similar occurs, we dig our own grave and jump straight into it. How does this happen? Debt is such a depressing and “choking” situation to be in that we often get into a panic trying to find a way out. We struggle to pay our rent, our mortgage, insurance, failing to pay any of these important bills can lead us to being homeless, lose our home or get in even more debt due to medical bills. On top of this people who are in debt often got there because of an out of control spending habit that doesn’t fix itself just because they are in debt, it continues, causing the person to carry on spending and getting further into debt.

I remember a workmate who was in serious debt, with a wife and a newly born baby, they had lost their home and were living with their parents. Well, he was depressed about his situation but would still use his credit card to buy computer games and on other hobbies. I have nothing against spending money on your hobbies but you might want to start trying to get to the end of the month with food in your fridge before buying the last sequel of worldcraft.
So how can you find relief from the dark tunnel of debt?

Here at Blownmortgage.com we have decided to dedicate a whole section with various blogs to debt relief, we hope it is helpful. This blog will set the tone with a broad overview of some of the steps that can help you stop digging a hole for yourself and start climbing out of it.

1.)   Take control of your spending
2.)   Prepare a budget where you spend less than you make, or as close as possible, and stick to it.
3.)   Look for ways to “improve” your situation by smart debt management.
4.)   Break the debt cycle

The following articles will elaborate on this rough sketch and hopefully create some light at the end of your personal debt tunnel.