Debt is something that plagues everyone most all of their lives. Right out of school, many of us buy new vehicles as our first big purchase. Once we've established a career, purchasing a home comes next. It's a constant accumulation that many people continue on in throughout a lifetime. However, this debt is usually manageable and not considered above our means. We buy a home that is reasonably priced with a mortgage that can be met each month. Our cars are not extravagant and do not break the budget.
Sometimes, debt can get out of hand. It goes from buying a home and/or new car to you charging the fuel expenses for your vehicle, to financing furniture for your new home, and more.
We can also finance schooling, vacations, groceries and other things that aren't typically accounted for. Credit cards can become a way of life. This is especially true for addicts. Keep reading to learn more. If you need affordable alcohol rehab in Asheville NC, please call Legacy Freedom!
Drinking, Drugs, and Debt
When suffering from substance abuse, financial debt tends to develop overtime in a way that is incomprehensible to those not addicted to drugs or alcohol. Spending begins to spiral out of control without any thought of what might happen in the future.
We all know how drugs and alcohol can affect relationships, careers and other aspects of our life, but we rarely think about the financial part of it. Those who are struggling to purchase drugs or alcohol will do anything to ensure they get their next fix. That means not paying their credit card bill or mortgage on time, or relying on a cash advance company for help. These things can cause more damage than you could ever realize in terms of credit scores and financial stability.
It is easy to make unrealistic decisions when you're looking for more drugs or alcohol or under the influence. It might seem harmless at the time, but spending life savings, selling valuable belongings or borrowing money at an extremely high interest-rate can eventually ruin someone financially.
Thankfully, with substance-abuse treatment, like our drug and alcohol rehab in Asheville NC, you can also come recover from financial debt. It can be a long road for both. Sometimes, it might seem like the financial debt recovery will never come. While the consequences of debt mistakes can take years to reverse, it is possible to recover from financial loss. But, the first step to doing this is alcohol and drug treatment. Without addiction recovery from facilities like Legacy Freedom, the downward spiral of financial debt will continue.
Once you've seen a professional and began your path to sobriety, you can slowly start paying down on debt. Only then can you begin to rebuild your life savings.
It's important to know that it can take a while to do these things. However, that doesn't mean you should give up. Stick with it. Start with small debt first. Pay off one credit card at a time. Then, once one card is paid off, start on another. Continue this until they're all paid for. Many times, credit cards have a higher interest-rate than other types of loans. It's important to focus on those with higher rates, first. If you've had any cash advancements, be sure to prioritize them as well.
Once all the high interest rate loans and charges are paid for, consider starting on paying back money that you've borrowed from friends and family. It's possible they don't expect repayment, but in order to take your financial debt recovery seriously you should repay any amount that you owe.
Once all small debt is taking care of you can begin to pay off your car. If you lost your car throughout addiction for one reason or another, begin saving money to purchase a new one. It's important to make smart decisions from now on. Purchasing a brand-new car is probably not a great option at this time. Find a reasonably priced, dependable vehicle that will be purchased in cash, if possible. This might mean living on a budget and saving for six or more months but, in the long run you will be very proud of your accomplishment.
Do you own your home? Did you lose your home during addiction? Are you hoping to purchase a new home now that you are financially stable and have completed drug and alcohol rehab in Asheville NC? These questions are ones you should ask yourself at the very end of your road to financial recovery. Houses are expensive. Maintaining them are, as well. That doesn't mean however you should not have an in goal of owning one or paying off your current home.
This last step is one that can take many years to accomplish. If you are renting a home now, focus on saving money to put towards a new house that you buy on your own. Once you get your finances in order and your credit reestablished, you'll be able to purchase your own house. Banks will be willing to offer you alone. It's important, however tonight by above your means. If you can only afford a mortgage for $1000 a month, keep that in mind while looking at homes. Setting a budget and sticking with it will help you when it comes to saving money and continuing on in your financial recovery.
If you are planning to pay off your current home, take the money that you've been using to pay down incurred debt and double your mortgage payments. This should also be the case if you're behind on payments and in danger of losing your home. Work with the lender to catch up and get ahead as soon as possible. If you ended up with a second mortgage during substance abuse issues, work with both companies to hopefully consolidate your loans. Sometimes, working with a financial adviser during this time can be very valuable.
Getting out of debt can sometimes seem impossible. It's a long road that can take years to accomplish. However, it is possible to get out of debt for even the worst cases. Don't give up. Stay motivated and dedicated to your goals. Just like addiction recovery, getting out of debt is a process that comes in stages. You can use techniques you learned in rehabilitation therapy to help you stay on task and do what seems to be impossible; pay off all debt.
Sometimes, we rely so much on alcohol that it becomes a dependency. We might not even realize the addiction is there. That's why our rehabilitation programs can help. Our holistic approach to customized therapy offers the best solution for addiction. You don't have to miss work or school in order to recover. You can go on about your daily routine and implement our programs into your typical day.
Drug And Alcohol Rehab in Asheville NC for Teenagers | Legacy Freedom
If you have a loved one that is suffering from a substance abuse problem, it's time to get them some help. While it’s easy for them to believe they are alone in this struggle that is the farthest thing from the truth. There are numerous people dealing with addiction, all over the world. Regardless of how bad drug or alcohol use has become, help is always available. Contact Legacy Freedom if your teen needs drug and alcohol rehab in Asheville NC. We are here to help them get back on track to a healthier, happier life.