LATE BLOOMERS MONEY PROBLEMS: Debt, shame, and what money does to mental health
Jan 29, 2025
Dive into the raw realities of money struggles as Rox and Rich share their personal journeys through debt, shame, and the stigma surrounding finances. They candidly discuss the impact of ADHD on spending habits and the mental health toll of financial stress. Rich reveals how sobriety propelled him to confront his debts, while Rox offers practical tips on rebuilding credit. Their contrasting money approaches provide a unique balance, highlighting the importance of honest conversations about finances and their effects on life and relationships.
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Debt And Hiding From Collectors
- Rich admits he ran up thousands in credit card and catalogue debt from a young age and hid from creditors.
- He describes hiding under his bed when electricity workers turned up and later facing bailiffs and CCJs.
Sobriety Forced Debt Reckoning
- Getting sober forced Rich to face old debts and ask creditors for payment plans.
- A songwriter hit (Post Malone) later generated royalties that cleared roughly £40,000 of his debts.
Talk To Creditors Rather Than Avoiding Them
- When you're in debt, reach out to creditors and propose realistic payment plans instead of hiding.
- Most people respond with understanding and may accept manageable monthly payments.