E-commerce is forging ahead with a lot of promise. Yet, there are some e-commerce business owners who are not able to tackle their debt scene successfully. Sometimes, on the road to freedom from debts, as an e-commerce entrepreneur, you may get depressed and immensely discouraged. There could be occasions when you may wonder whether it is worth the effort. Sometimes, you may even wonder if you are capable of getting out of this financial mess and escape the vicious cycle of debts. It is quite natural to feel disheartened while trying to achieve a debt goal. But do not lose heart. Even if you are feeling that it is not worth the sacrifices, you would soon realize the great feeling of emancipation once you are out of debt. So carry on with determination and dedication and follow the tips from experts discussed below for overcoming the feelings of depression and discouragement.
As per the latest data provided by the NY Fed, we find that the consumer debt in the United States seems to be at a record $13.2 trillion. That actually, means that each and every American owes more than $40,000 across student loans, auto loans, mortgages, and credit cards. Excessive debts are definitely making everyone feel helpless and pretty overwhelming. According to experts at https://www.forbes.com, “for some, debt-free has become the new American dream.’
Find Out Why You Are Feeling Disappointed & Disheartened
It is quite possible that recently something took place that may be causing you some stress, anxiety, and feeling of discouragement. Are you by any chance depressed because you are not able to get out of debt as quickly as you had anticipated? Are you losing patience? Have you missed any monthly repayment of late? Is there something that feels very much out of reach at the moment since you are grappling with debts? Trying to figure out the precise cause of your disheartenment could help you find an effective solution to carry on with double the determination. You may be realizing that your debt objectives are too far-fetched and over-ambitious and that you have overestimated the amount you could divert towards debt repayment on a monthly basis. Thoughts like these and certain financial emergencies could set you back on a temporary basis but you need to carry on with the same spirit as you had started on the road to your debt goal. Do not let anything come between you and your debt aspirations.
Focus on What You Have Achieved
Appreciate the progress made towards your debt goal instead of worrying about how much debt still needs to be tackled. If you consider how much debts you have already managed and paid down in the process, then you could understand the worth of your efforts and sacrifice. If you adopt the positive approach and see your debts from such a perspective, you would feel motivated and invigorated to take your debt-free mission to the next level. Remember slow progress is certainly much commendable than no progress at all. However, make bigger payments if you are able to afford it as that could help you pay off all your debts at a much faster pace.
Keep in Mind the Reason You Are Paying Down Your Debt
You must never even for an instant forget that you are consistently trying your best to pay off all your debts because of a reason. Let that be your driving force. It could be simply because you are looking for a hassle-free comfortable retirement, to afford a nice house, to pay towards your child’s education, or simply to free some amount in your budget. It is surely a good thing on your part, to pay off your existing debts. Remember every time you are making a repayment, you are moving towards your goal of being debt-free a step closer. When you are feeling down and depressed with your debt burden, think of the things that really encourage you and motivate you to move firmly in the direction of a debt-free life.
Stop the Comparison
Theodore Roosevelt had once said, “Comparison is the thief of joy.” How true! Roosevelt had meant that unnecessary comparisons could ruin your peace of mind and happiness about whatever you have achieved so far. Try your best not to get disheartened by the progress made by your family, friends, or bloggers etc. towards getting rid of their debts. Remember you are in a different situation and they are facing different issues. You must feel proud of the fact that you are putting in your best efforts and trying to get out of debts on your own. Anyway, you are not alone in your struggle. You could seek professional advice and assistance from debt management experts at Nationaldebtrelief.com.
Try Recalculating your Debt Repayment Schedule
In the case you are constantly making more than minimum payments, it is quite likely that have been successful in saving a number of months off your total debt payoff time. Try plugging your existing debts and your repayment amounts into an effective debt repayment calculator for seeing exactly how much more time you need to devote to debt repayment. It is a good idea to keep the goalpost clearly in front of your eyes as that should give you the right perspective regarding your progress towards your debt-free goal.
Read Success Stories of Individuals Who Have Escaped the Debt Trap
Remember you are certainly not the only one fighting with debt. Numerous other people are grappling with debt and yet others have emerged victorious in their fight against debts. Many have been determined enough to find a way out of debts despite difficult and challenging circumstances. You could read their inspiring stories to keep you motivated throughout your struggle. You could be renewed with enthusiasm to forge ahead with determination until you are free from your debts. Develop faith in you and you could do it.
You must never give up. Keep the fights going! There is no place for any disappointment or depression. Keep working towards your goal and in no time you would be liberated from the cycle of debts. There is absolutely no point in giving up now. In fact, that would make you feel far more distressed and depressed. All you need to do is to make a fresh commitment to paying off all your debts and stick to it firmly with double determination and dedication.