Steps to Take to Repair Financial Issues Caused by Addiction

Steps to Take to Repair Financial Issues Caused by Addiction

Funding addictive behaviors is not cheap. Whether a person forks over loads of money to pay for prescription pills legally or buys illicit drugs off the street, buying addictive substances is expensive. And, the nature of addiction is that it’s a cycle. So, when a person develops dependence, they have to pay for their drug of choice over and over again. Obviously, most people can’t keep up with the high cost of feeding an addiction. And, the results are often financial issues.

Fortunately, when a person enters treatment and chooses a life of recovery, they have the option to make their lives better and work to reverse the effects of drug addiction. One of the ways to address the negative effects of a lifestyle of addiction is to repair the financial damage caused by drug abuse. In this blog, we discuss 5 steps to take which can help individuals get on the road to financial freedom after drug rehabilitation.

Step 1: Accept the Nature of the Beast

First and foremost, acceptance of the nature of your financial struggles is a must. Without acknowledging the problem, one can never make the needed steps to finding solutions to financial issues. Often, people in active addiction or even recovery will deny the consequences of using addictive substances for as long as possible. This can include the impact using and purchasing addictive substances has on a bank account. But, those who acknowledge that the consequences of addiction are real may take the first step to repairing these consequences.

Step 2: Budget and In Inventory Your Finances

Steps to Take to Repair Financial Issues Caused by AddictionOnce you’ve accepted the fact that you need to focus on finances during recovery, you can begin to take an inventory on all of your assets. This way you can pinpoint which financial aspects you’re lacking in so you can use this information to form goals. When doing a financial inventory, consider all of the following:

  • Your credit score
  • How much is in your savings/checking accounts
  • How much money is coming in per paycheck and monthly
  • What you pay in bills every month
  • How much debt you have
  • How much you have after paying what’s owed every month

When you take inventory of your financial assets and debts on a monthly basis, it’s easier to budget, form goals, and meet your financial goals. While combing through this process may be new to you, it will make things easier in the long run. And, keep you from spending too much on money that could be going towards your goals.

Step 3: Setting Your Financial Goals

Now that you have taken an assessment of your overall financial situation, you can set your goals. Even those in the direst of financial situations can make moves to gradually get out of the pit of financial despair. And, every step, large or small, is a step in the right direction of fixing financial distress led on by addictive behaviors. However, it’s best to make and stick to one goal at a time. During recovery, there are a lot of changes. And, it can get overwhelming. So, by taking one thing one at a time, you give yourself a better chance to gradually complete goals. To stick to one goal at a time, make realistic deadlines to stick by and keep track of your efforts each day. Once a goal is completed, move on to the next, set a deadline for completion, and keep trucking with your financial efforts.

Step 4: Get Creative with Goalkeeping with Organization Tools

Because you’ll need to map out your goals and complete them one by one, you’ll need to keep organized to stay on track. There are certainly many budgeting tools you can use right from your smartphone or tablet in your app store. Or, you can utilize lists and calendars to stay on schedule with goals, track your efforts, and map out your bill schedule. It can definitely get overwhelming staying on track with financial efforts, but organizing can help to make things seem easier by proving a set plan of attack.

Step 5: Preparing for a Future of Financial Freedom

The future doesn’t come to mind during active addiction. When a person is using addictive substances, they’re thinking about what they want then and there, instead of future consequences. Changing this mindset in recovery to adapt toward considering one’s future self can be a challenging feat.

While it is important to take recovery day by day, you can also look forward to the future. And, planning your goals and considering financial freedom for your future can help you to get there.

Getting Help for Financial Issues in Treatment

Here at Wellness Retreat Recovery Center, we not only help individuals get on the path to recovery, but we also help with a number of aftercare efforts. This includes helping individuals plan for jumping back into the job market, going back to school, and help with financial issues through educational resources!

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We know that addiction can affect every aspect of life. So, we know that every aspect of life needs addressing to establish true and lasting healing. If you’re looking for a facility with dedicated personnel that cares about your future and every aspect of your recovery, contact us today.