The festive season can pose a challenge for individuals grappling with financial constraints. With expenses surging during this period, those with little savings or handling a load of debt can experience enormous stress. Regrettably, this is a common plight, with debt being a reality for too many; indeed, over 189 million Americans grapple with credit card debt. Despite the perceived strides in the US economy, many continue to struggle with this burden. As such, exploring avenues for financial aid— like the Salvation Army, Toys for Tots, and Samaritan’s Purse— can be essential.
However, fostering contentment in the face of debt, regardless of the season, is equally crucial. Although the journey to becoming debt-free might span months or even years, it doesn’t foreclose the possibility of experiencing life’s joys today. Here’s some advice on maintaining contentment even when burdened by debt.
1. EMBRACE A FRUGAL LIFESTYLE
The most effective strategy to combat debt entails embracing a lifestyle costing less than your income. This minimal expenditure allows a larger chunk of your earnings to go towards debt repayment and cultivates a sense of contentment and gratitude for what you possess. Residing in a modest home could inspire you to optimize your space, creating a conducive environment for familial memories. Likewise, owning a single vehicle could foster gratitude for the reduced expenditure on fuel, maintenance, and insurance. Essentially, living prudently ensures you maximally utilize your resources while shunning extravagance.
2. CHART A COURSE
Having a concrete plan instills confidence and contentment in your current position, regardless of the seemingly insurmountable debt. A well-thought-out debt liberation plan provides a clear path to initiate repayment and prioritize the debts. I have personally discovered that having an actionable plan offers the reassurance needed to stay the course. The satisfaction derived from eventually becoming debt-free, having stuck to your strategy, is well worth the initial struggle.
3. START KEEPING A GRATITUDE JOURNAL
Shaking off the disappointment associated with substantial debt can be daunting. However, it’s essential to remember that being in debt isn’t the end-all of everything. You can still lead a contented life. Keeping a gratitude journal helps refocus on everyday blessings. While you may lack the luxuries of life, like an extravagant home or an exotic vacation, there’s much to be grateful for. Savoring the low-cost, simple joys life offers, such as health, basic sustenance, a loving family and support system, are invaluable.
4. SAVOR LOW-COST EXPERIENCES
Incurring debt shouldn’t dampen your spirit or deprive you of enjoyment. Balance is key; ensure you allocate resources towards debt repayment while still appreciating the present. One of the ways to achieve this balance involves indulging in affordable or free recreational activities. Whether it’s attending free local events or leveraging deals on Groupon, it’s important to relish these occasions. These experiences can provide enjoyment and contentment regardless of your financial situation.
5. GIVE, IF POSSIBLE
Despite being in debt, remember that it’s still possible to be considerate towards others. Be it volunteering your time, offering your skills to community projects, or donating a small holiday gift—each act of generosity bears a significant impact.
6. RECOGNIZE YOUR ADVANCEMENTS
Perhaps one of the most important aspects of being content is acknowledging personal growth. Be proud of the steps made so far in your debt repayment journey and the sacrifices endured along the way. I made sure to recognize my own progress upon settling my student loan—despite being saddled with more debt, it was important to celebrate this milestone before facing the next challenge.
Ultimately, striving for contentment despite debt proves beneficial for mental health, ensuring your journey towards financial freedom is more bearable and rewarding. Take advantage of these tips and continue to seek ways of remaining contented even submerged in the sea of debt.
