Addiction recovery allows you to rebuild your life, and part of that rebuild, is rebuilding your finances. You will need to learn to manage your finances as you may be deep in the hole after years of addiction. Below is a guide to help you rebuild your financial situation.
Assess the Damage
Before you can repair the damage done to your finances, you first have to understand where you are financially. It will be hard for you to truly look at how deep you fell, but in order to get out of the hole, you have to know how deep the hole is. Make a list of all of the debts that you owe, even the small “loans” you took out from your friends and family.
In order to rebuild your financial situation, you need to stop spending immediately. When you do have to buy something, adopt a cash only system so that you cannot spend more than you actually have. If you have any credit cards, cut them up and stop using them. Only spend on essentials like food and rent, and cut out the frivolous. Unsubscribe from any magazines, eat out less, keep a list of everything you spend, etc.
You need to once again be a productive member of society by having a job. This might be difficult, considering your situation, but it is not impossible. You may need to lay aside your pride and start somewhere small, like a cashier or stocker, but any job is better than no job. Once you build your credibility (being a model employee at whatever job you hold), you can again apply for similar positions that you held before.
Contact Your Creditors
It is in your creditor’s best interest to get paid, no matter how long it takes. Call your creditors and create a payment schedule that works for you and them. Once you set up a payment plan, they will hassle you less and less, and you can focus on actually paying off your debts, rather than trying to avoid your creditors.
It is too easy to look back and see the mess in your wake and become discouraged. It is important that you do all that you can to stay positive. Keep your head up, and though you may feel like you’re drowning now, things will get better. With a little determination and hard work, you can rebuild your life and your finances.