Latest / Wellbeing Solutions - Ask A Counsellor / What steps help me avoid falling back into debt?

Transcript

What steps help me avoid falling back into debt? · Wellbeing Solutions - Ask A Counsellor

• 0:00
  SPEAKER_00: Once you've worked hard to clear debt, the fear of ending up back there again can linger, even when your finances look steady.
• 0:08
  SPEAKER_00: That worry doesn't mean you're doing something wrong.
• 0:10
  SPEAKER_00: It usually means the habits that got you into debt in the first place are still familiar, and staying out of debt is an ongoing process.
• 0:18
  SPEAKER_00: Staying debt-free is more about structure.
• 0:21
  SPEAKER_00: So start by knowing exactly where your money goes each month, your income, your outgoings, and what's left over.
• 0:28
  SPEAKER_00: When you can see it clearly, decisions get easier and less emotional.
• 0:32
  SPEAKER_00: And it also helps to catch the thought of I'll just put it on the card this once and pause before acting on it.
• 0:38
  SPEAKER_00: And ask yourself if this is a need or a want and if it can wait a few days, as that short pause is often enough to break the pattern that leads back into debt.
• 0:50
  SPEAKER_00: Now, a practical way to support yourself with this is by setting up a simple routine, a weekly 10-minute check of your spending, so problems get caught early rather than building up.
• 1:00
  SPEAKER_00: And if you're someone that tends to slip into old habits, consider closing accounts you've cleared or removing safe card details from shopping apps so spending takes a little bit more effort.
• 1:10
  SPEAKER_00: You can also build a small buffer, even a modest amount set aside each month gives you something to fall back on instead of a credit card when something unexpected comes up.
• 1:19
  SPEAKER_00: You can also tell someone close to you what your goal is to stay debt-free, which can help you stay accountable.
• 1:25
  SPEAKER_00: Now, if you notice yourself relying on credit again, missing payments, or feeling that familiar sense of dread creeping back, reach out early rather than wait for it to build.
• 1:36
  SPEAKER_00: Now free debt charities like Step Change or National Deadline can help you get ahead of it before it grows.
• 1:42
  SPEAKER_00: And if the anxiety around this becomes constant or is affecting your day-to-day life, speaking to your GPU or a therapist can help you manage that alongside the practical steps.
• 1:52
  SPEAKER_00: Now for more support with staying debt free and building financial confidence, you can explore the resources available on the app.
• 1:58
  SPEAKER_00: And if you are thinking about harming yourself or feeling safe, then please seek urgent help by contacting your local emergency number or a crisis helpline.