Even just the word debt has kind of a stomach-churning ring, doesn’t it? In a sense, it’s fitting that 'debt' is a four-letter word but the debt narrative is resoundingly negative. For the most part, debt is synonymous with anxiety and it shouldn't be that way.  This is precisely why in recent times we can see more and more people giving up on their lives.  While you may not be able to take full control of the situation, a small mental trick can help you hold on to hope.

Rename Your Debt

The idea is to just rename your debt. In simple words, stop calling your debt ‘debt’. Rename it to a word or phrase that reminds you of the positive reasons that you spent the money in the first place. This will remind you that you had a bigger cause in mind before you fell into the trap of debt. Whether you borrowed money for the well-being of your family or the best interests of your friends, reminding yourself that you had the best intention in mind will help you feel much better. Keep telling yourself that we all have ideas on how we think we should be spending money, and we are allowed to do that. Anxiety Isn’t All That Bad! Study Says It Helps You Remember Better.

For instance, if you have taken student loan but it leads you to a career that you love, consider calling it your ‘dream job loan’. If you purchased a home for your growing family, call your contract ‘family stability loan’ or if you have to take a loan for your first new venture, call it ‘your career break loan’. You can also apply this technique for the not-so-momentous occasions of your life like your credit card bills. If you go on a vacation that put you in the red for a few months as you were paying it off, call your mortgage ‘mental well-being’. Similarly, if you have accumulated debt because of a variety of occurrences, put it into perspective by calling it ‘life transition’. Internet Addiction Effects: How to Beat Anxiety and Other Health Issues Caused By Your Net Obsession.

Debts can bring dire consequences and yes you need to be responsible about it. But that doesn’t mean you have to beat yourself up over it if you find yourselves in one of those ‘life happened’ situations. This is not a reason to be reckless. Understand that sometimes things don't go as planned, but there is always a way to work it out and never lose hope.

(The above story first appeared on LatestLY on Aug 01, 2019 12:00 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).