Do you think you can turn debt consolidation into a happy debt solution? Of course, you can! The truth is, happiness is just a state of mind. It does not matter what goes on around you. If you can train your mind to be happy and content at all times, nothing can really phase you.
That does not mean you will not feel sad. You are still bound to have negative feelings. You are human after all. However, you will find it easier to bounce back if you have an overall mindset of optimism. With that positivity, there is a higher chance that you can attract success. In this case, you will find success in achieving debt freedom.
Having a great financial situation can also help you feel happy. According to one study, it is proven that money can buy your happiness. However, it also revealed that you do not need too much of it. Earning around $100,000 should be enough to make you happy. It was revealed that earning too much make people less positive about their lives.
While it is proven that money has an effect on your happiness, it can be assumed that anything that threatens your finances can cause you unhappiness. That means if you have a lot of debts, that can negatively affect your level of happiness.
To keep your debts from affecting the quality of your life, you need to make sure you have a debt solution that will help you pay it off successfully. Fortunately for you, there are several options to get out of debt. One of these is debt consolidation. And if you do it correctly, you may not have to compromise your happiness even as you struggle to pay off your debts.
Tips to stay happy while completing your debt solution
Did you know that Americans are not as happy as they used to be? Reports reveal that 13% of Americans who participated in a survey said they were not happy. This is more than a 50% increase from the 8% back in 1990. While the survey did not specify the cause, it was noted in the research that economists take into consideration the happiness of consumers when determining the state of human welfare. That means the happiness of individuals is vital if you want to consider yourself a success. This is why if you are trying to improve your financial situation, it is not enough that you pay off your debts. To really feel like a success, you should strive to be happy while doing it.
The thing is, it is possible to stay happy even while you are in the midst of a debt solution. You do not have to be miserable the whole time. As mentioned, it is a matter of conditioning your mind to see the positive side of everything. But beyond that, there are also tips that you can do to maintain your happiness while completing your debt solution.
Try not to let your ego affect your debt solution
Most of the time, you can only completely pay off your debts if you change your lifestyle. That means lowering your expenses and not living as extravagant as you used to. This could be a blow to your ego. Add to that the fact that you failed in managing your finances properly – it can make you feel bad. The disappointment can make anyone unhappy. This is why you need to forget about your ego for now. You should just treat this as an obstacle or challenge that you have to overcome. When you succeed, you can bet that your ego will feel satisfied too.
Stop letting regret make you feel bad
Another thing that will threaten your happiness is regret. Stop thinking about the “what ifs” and put all of that in the past. There is no use dwelling in the things that you should not have paid for. It is already done. The only time that it is okay to look at your past is when you are trying to identify your mistakes so you will not do them again. That is the only time that it is acceptable. Instead of dwelling on regrets, it is better to focus your energy on paying off your debts.
Focus on improving yourself
One way to feel happy despite your debt situation is to try and improve yourself. Do something new to make yourself proud. You need it to motivate yourself and build your confidence. You have to believe that you are capable of improving something in your life. When you succeed, it will give you the strength and encouragement that will allow you to complete your debt solution. It will keep you from feeling any debt discouragement – which can be quite devastating and can keep you from fulfilling your goals.
Find the time to be with loved ones
It can be your family, friends or significant other. When you are in the midst of a debt solution, it really helps to have a support system. These people can encourage you to make the difficult changes that will allow you to get out of debt completely. Things will be hard and challenges will arise every now and then. You can rely on your loved ones to listen to your rants and give you words of advice. They can remind you of why you are trying to improve your finances in the first place. Having their support will really give you the strength that you need to achieve debt freedom.
Why debt consolidation can be a happy debt solution
While there are a lot of debt solutions that you can use, consolidating debts seem to the one that will make the journey a more positive one. Debt consolidation can bring a lot of benefits in your life. To be specific, it can bring two things that will help make your debt solution a happier experience.
Simplifies the repayment plan
First of all, a debt consolidation program can make your repayment plan simple. Instead of worrying about paying off multiple debts, you only have to think about that one payment that you need to meet each month. With a more simple repayment plan, you get to lower the stress that is usually associated with your debt solution. It will allow you to focus on improving your income so you can get out of debt faster.
Saves you money
Debt consolidation can also help you save money. At the very least, it can help you lower the interest rate on your debts. This will allow you to pay a lower amount on the overall debt that you owe. Instead of paying off the interest, you can use that to invest. There are also debt consolidation options that will allow you to waive certain fees or reduce your balance. Any savings that you can get can be used to grow your personal net worth.