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Change is Hard

If you have entered debt review, then your life has changed.

In all likelihood, you entered debt review because for one reason or another, your debt got out of hand.

Maybe it was one emergency too many, maybe it was years of having to rely on credit to fill the gap between big cost of living increases and small salary raises, or maybe it was simply living beyond your actual means, because we are all encouraged to.  Whatever the reason, things were out of control and fortunately, debt review was the solution available to take back control of your finances.

You may not have realised at the time, but debt review is not just about protecting your assets and reduced monthly payments. It’s also about change. It’s about a new way of life, a new reality.

It’s about shopping differently, living differently, and most importantly, thinking differently. Admittedly, that’s not easy. Saying goodbye to instant gratification and hello to patience can feel uncomfortable.

Let’s look at some of the big adjustments that come with entering debt review.

A New Mindset

The first change is a new way of thinking.

Debt review means living only on what you earn, not what the bank will lend you. That means moving away from “swipe now, worry later” to only using the cash you actually have.

And let’s be honest, that change can feel super restrictive at first… almost like you’ve lost your safety net.

True, you may have lost that luxury but what you’re gaining is financial freedom. No more juggling credit cards or lying awake stressing about who to pay first. A cash lifestyle might take some getting used to, but it puts you firmly in control of your money (instead of the other way around).

Living on Less

Debt review also means cutting back.

You probably were not living it up like crazy (who can these days?), but you may have fallen into some patterns and habits that were… not as responsible as they should have been.

Once in debt review, you’ll find yourself shopping differently. You will be looking for specials, switching brands, and skipping the luxuries you once thought you simply couldn’t live without. That might mean eating out less, finding free entertainment alternatives, or packing your kids a lunch box. Small changes that save big over time.

At first, it may feel like you’re losing out, but you’ll soon discover that living with less often brings more peace and a lot less pressure.

Really Using a Budget

Most people know what a budget is and why they are good, but the truth is hardly anyone uses one.

Even when you first start debt review it might still feel like a foreign concept. But under debt review, this theoretical, mythical budget becomes your very real roadmap to success every month. Every rand will have a specific purpose, and following that plan is what keeps your repayment schedule on track.

‘Every rand will have a specific purpose’

That may feel like you have become very strict on yourself and your family, but it also removes all the guesswork. You don’t have to lie awake at night wondering where the money will come from. The plan is there, and the budget makes sure it works.

Life Without the Swipe

This may be one of the hardest changes for people who are used to credit: you can’t buy things instantly anymore.

We have been taught that we can get something now, and pay for it later. After entering debt review, if you want something a bit pricey, you’ll need to actually save up for it.

That means learning patience… waiting weeks or even months before you can afford a purchase. But when you finally do buy something with your own cash, it feels different. There’s pride in knowing it’s yours immediately, not the banks. That’s a lesson most people carry with them long after they leave debt review.

Dealing With Debt is a Team Sport

Having a lot of debt is sort of “shameful”.

We avoid talking about it with others.

So, when entering debt review, we might also get a bit mixed up in that same thinking. We might be so used to keeping our debt shame to ourselves, that we think we must treat debt review the same way.

But debt review isn’t something you go through alone. In fact, you will have a team of people to help and support you during your journey.

You’ll have your Debt Counsellor, your attorneys, your payment distribution agent, the insurance folks and the system itself working to protect you and manage your debt review.

This can feel strange at first, especially if you’re used to handling things on your own. But communication and cooperation are key. Sharing honest information, responding quickly to requests, and trusting the professionals allows the system to work as it should.

Remember: your team wants you to succeed.

The Art of Having Patience

Debt review isn’t a quick fix.

It takes time…often several years. Many debt restructuring plans are set out over 60 months.

The challenge is that it can mean that progress will feel slow. And in a world of instant gratification, getting used to “slow”, can be hard.

As a result, you may feel like you are running on the spot. The temptation to give up may creep in.  But the truth is that every month you stick with it, your debts are shrinking. Maybe not by a massive amount initially, but slowly step by step, rand by rand, you are moving closer to total financial freedom.

It is best to think of your journey to financial freedom as a long road trip: Sure, it may take a while to get there, but every kilometre travelled brings you closer to your destination.

Embracing Your New Reality

Adjusting to all the changes debt review brings is not easy, but it is worth it.

At first, we might find ourselves resisting the needed changes because nobody likes change. Change is hard, and yes, in debt review, you will need to change your habits, rethink your lifestyle, and practise patience, it’s a lot.

That’s why it is good to focus on the “why”.

Why you have to make these adjustments and the benefits it will bring. By making needed adjustments you will gain real control of your finances, you will develop peace of mind, and have a plan that actually works.

‘unlike being trapped in a debt spiral, with debt review, you’re moving forward’

Debt review is a journey, and like any journey, it requires effort and endurance. There are certainly going to be highs and lows, but the difference is that, unlike being trapped in a debt spiral, with debt review, you’re moving forward.

So, make the needed adjustments, embrace your new reality, and you will successfully reach the finish line. When you do, you’ll not only be debt free, but you’ll also have the skills to stay that way.