Experts Reveal Paying Off Debt Could Become Addictive

(Newswire.net — May 9, 2017) Tallahassee, FL — Debt can be a minor problem, but it can also be a cause of one’s financial embarrassment. Using credit cards is believed to be one of the major causes of debt. However, the good news is that there are actually ways to stay debt-free.

Experts reveal how to make paying off debt an addiction. There are many people who become obsess with their debts, work hard, and sacrifice their health to make sure that they get out of debt. The thing is that there are actually better ways to stay debt-free.

In a Pew Survey conducted by The State of America Family Finances, it was found that 71 percent of the respondents reveal their fear of not having enough money to cover their expenses there are others who are simply not open to carrying debt.

In the same study, it was found that the respondents would sacrifice relationships, sleep, and personal safety just to pay off their debt.

According to Cali Estes, CEO of The Addictions Academy, the two basic types of addiction are chemical and process. Chemical includes being dependent on alcohol while process pertains to an attachment to a certain behavior. Excessive debt repayment belong to the process category.

The U.S. National Library of Medicine noted in their report called “Behavioral Addiction versus Substance Addiction: Correspondence of Psychiatric and Psychological Views,” that in theory, addiction is possible when a habit turns into an obligation.

Estes added that it’s healthy when a person thinks of not having debt or getting rid of it. However, it can also turn into something else, which is something harmful. This is especially true when it is all that the person thinks about is or when he or she tries to turn to negative extremes to achieve it.

Rebecca Eve Selkowe, a New York City financial coach and author of “Dominate Your Debt: A Work and Play Book,” asserts that many problems could be created by debt repayment addiction as any other rudderless compulsion.

For many people, debt is a serious problem. It is something that many credit card holders are trying to avoid. The good news is that consumers have been resorting to measures to stay out of debt.

Credit card holders also ensure that they keep their cards safe from identity thieves. These fraudsters use card skimming devices to steal information from credit cards and use it for fraudulent purposes.

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