How to Stop the Financial Struggle and Get a Foothold in Recovery

Paying for life can be expensive. There may be household bills, medical debt, unpaid credit cards, or a myriad of things which can pile up when you are addicted to drugs and alcohol. Likely, you have not been paying close attention to your finances to see how much you spend on your addiction and the bills keep coming at you. When you think about a secure financial future now in recovery, you may be wondering where to turn and how to get past this hurdle. One key is to think about your next steps, one at a time, and start slowly, but with intention.

Goal Setting

Setting a goal can be a powerful tool to accomplish your dreams. When you create a budget, you are less likely to spend excess money, especially when you have a goal in mind to save for the future. One way to create goals is by setting a specific budget. Unless you have a lot of money (perhaps, even then), you likely need to set a budget based on your expected income and expenses to stay afloat. You have to at least cover the basics and essential things like buying food, paying for some type of housing, and keeping the lights on. The rest is money you can discern how best to utilize depending on your income. Once you write it all down, set those goals for how you want to spend and save. You may be surprised at how much you are used to spending on things you may not need and can save by cutting back.

Use Your Resources

The local library may offer financial literacy courses and books in how to utilize your money in a positive way. You may be able to access some online content at home on a computer or smartphone that help you track your expenses. There are tons of apps which are free to use, websites, and templates which provide a budgeting resource for your needs. Find one that works for you and stick with it. Utilize what you have access to right now so you can plan for your present and save for the future.

Unburden Your Debt

One of the biggest factors of stress for people in recovery as they review finances is personal debt. This can help you when looking at a house (good credit) or hurt you (bad credit) if you didn’t take care of it in the past. Nobody likes to feel stressed out there is no extra money for bills when debtors come calling. If you want finances to improve, tackle debt. Find a good plan and payback rate. Put those in a budget sheet, consolidate big debts, and tackle them head on. The key is to find someone who can offer support in developing strategies around paying off debt and saving.Recovery is stressful enough without having to worry about finances all the time. Without a job, it is hard to have money to repay debts. The first thing you may need to do is look at your employment situation, housing, and bills to determine what will work for you when designing a budget and lifestyle you can afford. From there, decide on your life’s goals and where you see yourself a few years down the road. If you need an education to get a different job and make more money, look for scholarships and grants to support your schooling (or go part-time and online). There are myriad ways to work towards future goals while saving money in the present. If you are struggling with how to best do this, you can find help with recovery professionals or mentors in your circle of friends and family who may be able to keep you accountable as you take the journey to financial freedom.

The Last Resort provides a safe, supportive environment for men in a retreat-like setting. Nature is an important component of recovery and healing. We strive to provide a place of enrichment that cultivates the inner as well as the outer journey of recovery. However you find your way to the Last Resort, we endeavor to provide a haven where you can journey through recovery feeling like your life and story have meaning and a purpose. Call us to find out more: 512-750-6750.