Get help with your credit card debt!

We hear a lot these days in the media about how to resolve short term debt problems. But what we don’t generally learn is how to maintain a debt-free existence once our mini-economic crises have been resolved. Here are some pointers to keep in mind:

1. Set specific, reachable financial goals.

It’s all well and good to aim to retire to a villa in Italy at age 55. But “dreaming big” can often cause us to set unrealistic expectations and can lead to anxiety and low self-esteem when we fail to meet them. Choose goals that you know you can reach. Once you’ve achieved these milestones, you can move forward with more confidence.

For instance, instead of resolving to buy a flat-screen TV, pay off your mortgage, and clip your “eating-out” budget down to $100 a week, set simple goals that are completely within your control. For instance, resolve to: a) pay off your credit card bills at the end of the month no matter what; and b) set aside $500 per month for your retirement.

2. Keep learning about debt management.

The bad habits that led you to indebtedness can persist even after you’ve cured your current credit-related headaches. Continue your education. The more specifically you can analyze your money-related behaviors and attitudes, the more accurately you’ll be able to assess where you may be going wrong.

3. Reward yourself when you do well; and if you slip up, don’t beat yourself up.

If you’ve had the “debt monkey” on your back for years, you’ve likely developed unconscious ideas about your lack of ability to manage money. But these self-doubts can be changed; anyone can learn the basics of sound money management.

For instance, let’s say that you pay your credit card bills late one month. Don’t panic. Just take a step back, and reassess what’s happened and why. Then “get back on the horse” and pick up the slack next month.