NOTICE: Good news! Our Milpitas and Sunnyvale branches have reopened, and our Palo Alto branch will reopen March 29th, observing safety protocols. We can’t wait to see you! Our San Francisco branch remains temporarily closed. As more members opt for non-face-to-face interactions, you may experience longer hold times when calling our Member Contact Center. We apologize for this inconvenience. Click here for open branch locations and hours.

  • Dealing With The Mental Drain of Debt

    Dealing With The Mental Drain of Debt

    Pulling yourself out of debt can be a lot easier said than done. You know how much paying down the credit card will help your credit score. You know being late on the phone bill only makes things worse. Yet, all to often the debt keeps piling up. And as studies have shown, the worse you feel about your finances, the worse you’re likely to feel overall. One way to break down the debt-repayment barriers is to reframe how you think of the financial burden. Here are some tips to help you do that.

    Find a Mantra

    It might seem cliche, but one way to deal with the stress of debt is to come up with an affirming mantra. It can be as simple as “I am in debt, but I am not a bad person.” Say it over and over again. Debt isn’t good, but it doesn’t help to dwell on it. Think about the reasons you got into debt, take some lessons from that, and move on.

    Get Real

    The most difficult step in dealing with the mental obstacle of debt is actually looking at the cold, hard numbers. But it must be done. Take a real look at what you owe and let it sink in. Then, as The Cut suggests, react in any way that feels cathartic (but not personally damaging!). Yell into a pillow, punch the couch, cry. Whatever works.

    Form a Plan

    Once you’ve had time to process the numbers, find some ways to cut down on spending and — if possible — add a bit of extra, short-term income (not just by working extra hours, selling things you’re no longer using also works). When you know how much you can afford to dedicate to debt, focus on the debt with the highest interest rate first. Keep your focus on that debt and that debt alone until you have it paid down. Having one simple goal can be helpful. And every dent you make in your debt will have a great impact on the mental blockade you were dealing with.

    Back to Blog

    Leave a Comment


    characters remaining


    hqhymqsqdr | Posted November 13, 2020
    This comment is pending approval

    Raymond Johnson | Posted July 4, 2020
    This comment is pending approval

    Kathlyn Ross | Posted March 29, 2019
    This comment is pending approval

Give us a call

Give Us a Call

We look forward to chatting with you.

(800) 553-0880

For new loan related inquiries, call

(877) 988-0471

View Our Contact Info
Visit Us In Person

Visit Us in Person

We’re here to serve your needs in person at our San Jose Headquarters. Visit us at 2010 N. First Street, San Jose, CA 95131.
Get Directions
More Information

Want More Info?

Interested in learning more about all we have to offer? Receive personal finance tips along with emails focused on key topics. You can even sign up for our monthly newsletter.
Request More Information