Taking Control of Your Financial Health During Addiction Recovery

photo of a man writing on a paper creating financial plan

Addiction takes a toll on virtually every part of the addict’s life – often contributing to behavioral health issues like depression and anxiety, physical problems including insomnia and fatigue – and it can wreak havoc on personal relationships too.

A life of addiction can also cause financial difficulties. If you have been completely absorbed in using and abusing drugs and alcohol, you may have let important financial issues like paying bills on time go by the wayside. Embracing a life of sobriety is an opportunity to heal every aspect of your life – including your financial health too.

Though, you don’t have be a professional financial planner to make substantial changes today that can help you build a solid financial future.

3 Tips for Repairing Your Financial Health

  1. Start small. It may seem overwhelming at first if you are dealing with financial hardships, but the key is to start tackling the simple tasks first. Make a list of your recurring bills and their due dates so you can start paying your bills on time to protect your credit score. If you’ve had trouble remembering what bills are due and when, consider adding a reminder on your phone that alerts you two or three days in advance of the due date.
  2. Rein in credit card spending. It’s common for those dealing with addiction to make impulsive purchasing decisions to fund their lifestyle. If you do have credit cards, make an inventory of your current balances and make a plan for paying off your debts. You may even be able to lower your interest rates by simply contacting your creditors to see if you can quality for more attractive terms.
  3. Make a budget and track your spending. The simple act of creating a budget and monitoring your progress towards your financial goals can be incredibly empowering. And, there are wide range of planning tools available to you online. With sites like mint.com (which provide basic services for free), you can easily create a monthly budget to allocate how you want to spend your money and many also even offer free credit reporting monitoring so you can track your progress.

Addiction recovery isn’t easy. But, it can offer an opportunity for you to spend more time and energy focusing on rebuilding your life – physically and mentally – while creating a brighter economic future.

Looking for Help Overcoming a Life of Addiction?

10 Acre Ranch is licensed by California’s Department of Health Care Services and offers residential, and partial residential programs for drug and alcohol addiction. To tour our facility or discuss alcohol rehab for yourself or a loved one, dial (877) 228-4679 or submit a confidential online inquiry today.