Oprah’s “Debt Diet” - Financial Trouble can be related to our Thoughts and Attitudes

March 10th, 2006

Piggy Bank

Today Oprah had her third show in the “Debt Diet” series. It was a very difficult show to watch as a psychotherapist Dr. Robin digs below the surface of two of the families that are struggling with their financial situation.

At times it was difficult to watch, you know that these people were so humiliated by their financial situation and you know they didn’t want to cry on national TV. But it took a lot of courage to confront their financial problems in a big way.

The first family told their immediate family and friends of the financial troubles they were having. It is a step to acknowledge that you have a problem. The problem with debt is that it is something that people don’t share or want to acknowledge. Debt is embarrassing and humiliating for most people.

Oprah pointed out that financial problems are the number one reason for divorce. The psychotherapist said that couples need to work on improving communication skills. That means that we don’t need to withdraw or become defensive. Learning to acknowledge that we are part of the problem is a step to fixing financial problems. You can’t always blame the other person as it is often a family problem.

Sometimes one partner will not stand up to the other in order to spare the fighting. This can be dangerous and can cause partners to divide and lose the connection. Somehow you have to discuss the financial problem in a civilized manor. This could be accomplished with a therapist. If you are both realizing that there are financial problems, it could be done without the help of a referee.

You could be spending your money on your kids or fancy things that are not needed. You might have the feeling of self entitlement. It can be frustrating to go without things and with credit cards so handy, it is easy to fall into bad habits that get you into debt.

If you realize that you can cut back and survive it, you will become a stronger person in the end. Even though the families on Oprah’s show were of a middle class income, these principals of working on your attitude can be applied to all income levels.

There are times that we spend money on frivolous items and we try to justify why we do this. Sometimes we might feel guilty and other times we feel entitled, but if we don’t have the money to pay for it, eventually it will become a big problem with debt. The sooner you can pull out of debt the better off you will be.

Oprah’s “Debt Diet” series continues for another show on March 24^th. You can visit Oprah.com website for more information on the shows.

Our website has a special topic section that covers a wide range of money management topics to help you get out of debt. Becoming active in solving your debt and financial problems is one of the first steps to getting out of the crisis you may be in. Continued here