Debtors Anonymous provides meetings to help compulsive debtors stop incurring debt and to help each other take control of their financial life. They have meetings in many cities as well as online and telephone options.
What are the signs of compulsive debting? Here is what was provided by Debtors Anonymous:
- Being unclear about your financial situation. Not knowing account balances, monthly expenses, loan interest rates, fees, fines, or contractual obligations.
- Frequently “borrowing” items such as books, pens, or small amounts of money from friends and others, and failing to return them.
- Poor saving habits. Not planning for taxes, retirement or other not-recurring but predictable items, and then feeling surprised when they come due; a “live for today, don’t worry about tomorrow” attitude.”
- Compulsive shopping: Being unable to pass up a “good deal”; making impulsive purchases; leaving price tags on clothes so they can be returned; not using items you’ve purchased.
- Difficulty in meeting basic financial or personal obligations, and/or an inordinate sense of accomplishment when such obligations are met.
- A different feeling when buying things on credit than when paying cash, a feeling of being in the club, of being accepted, of being grown up.
- Living in chaos and drama around money: Using one credit card to pay another; bouncing checks; always having a financial crisis to contend with.
- A tendency to live on the edge: Living paycheck to paycheck; taking risks with health and car insurance coverage; writing checks hoping money will appear to cover them.
- Unwarranted inhibition and embarrassment in what should be a normal discussion of money.
- Overworking or underearning: Working extra hours to earn money to pay creditors; using time inefficiently; taking jobs below your skill and education level.
- An unwillingness to care for and value yourself: Living in self-imposed deprivation; denying your basic needs in order to pay your creditors.
- A feeling or hope that someone will take care of you if necessary, so that you won’t really get into serious financial trouble, that there will always be someone you can turn to.
If you’d like to find help for compulsive debting, please check out the two web sites below.
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Tom Drake is the owner and head writer of Canadian Finance Blog.
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Well most of us are heavily dependent on debt which indeed is a bad idea
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I tried Debtors Anonymous and it helped tremendously. I was able to keep records of my spending and develop spending plans which actually put me first! It gave me peace of mind and at time when I was considering suicide. The best part about it was that you didn’t have to pay to get in or pay a retainer fee like some of these other so=called “debt assistance” places. I feel better, my financial situation is better and my future seems much brighter. Too bad there aren’t more groups in Canada. They have phone meetings though but they’re not quite as good as the real face to face gatherings.
Debtors Anonymous seems to have all the tools the suffering debtor needs to get back on his or her feet and live abundantly. They have what are called “Pressure Relief Groups” to address any problem the person is facing. It also puts the DA member first. It does not concentrate on paying all debts, no matter how large, as fast as possible. This causes deprivation which then leads to a binge. It seems to hold all the key ingredients to held someone in financial despair and the best part about the program is that is is free – no dues or fees for membership. Unfortunately, the program is not well known to the public.