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05 December 2023

Facing debt crisis in UAE… Click for tips on how to tide over


If you are facing a debt crisis, below are some tips which will help you with your situation.

1.    Always confront your family first if they are living here with you. Brief them on your current situation, present the real facts and explain how you intend to recover, and your future plans. Most importantly get their feedback, continue discussing and make them feel like they are a part of this big plan and decision because you will need their support to at least maintain harmony in the household and family unit. Once you have their approval and support, a weight will be lifted from your shoulders because now, you are encouraged to go home every night after work, instead of dreading the moment because you are living with a secret, so negativity replaces happiness and you can avoid that right now! Remember, home is where the heart is, so treasure that!

2.    If you are living here alone, without family, engulf yourself in positive videos. YouTube has numerous videos you can listen to learn and be continually inspired. Read inspirational books, reach out to me, reach out to people who are always happy around you and start being aware of how you think, speak or act towards people and if it does not feel good to you, learn how to change it and you will change your life, debt aside.

3.    The change we seek starts with us first, because when we change the way we look at things, the things start changing and we need to be comfortable in our own skin first, before we can be of service to ourselves or others. Reaching out to people for advice, support and even reaching out to advise or support yourself when you are in this ‘down’ situation, will also serve you well because you will get back the good that you put out there and that is how it works!

4.     Internal well-being, self-acceptance, learning how to love and accepting yourself in spite of the bad space you find yourself in, will change your way of thinking, improve your confidence and inspire you to do the right thing. This is the way of the world since the world shifted its paradigm with the financial downturn in October 2008 and people have sought answers, new ideas, transformation and learnt to follow their passions and, therefore, achieved huge success in all areas of their lives. We must just know what those tools are that will serve us to shift us to that place and once we get there, we are fully prepared for whatever awaits us and maybe, the latter will change and surprise us. Trust me, I have been there and I continue to look ahead with great expectation of miracles and transformations in my life and because I learnt how to change my way of thinking. I serve myself well, along with daily practices of prayer and meditation which is a key part of your well-being circle, so do not dispute these. Daily practices for only 20minutes will change your life.

5.     Join a Gratitude Challenge with people who can support and encourage you and there are many, just go browse online and in fact, I have started a new 365 Day in 2014, where many have joined as they know from past experience, it has changed their life! When you are continually grateful for what you have, you call more of the same into your life, but when you say ‘I don’t have enough money, I never have enough, why do they always have so much money...’  then you are saying and reaffirming ‘I have a lack; I will never have enough money; I will never be as fortunate as them…’. You will continue to attract more of the same. The more you are envious of people the more you will receive bills. So it is very important to change your mind-set so that you too can be fortunate to have the things your heart desires and experience true fulfillment in all you do. We were not born to suffer, to have a lack, or face bad experiences, these things happen but when it does we need to know how to change those situations for our own benefit and transformation.

6.    Nobody said it was easy or a walk-over, but if we don’t start trying, we will never know and we will forever be in this negative situation with no will to change it! Even when you write down daily exactly what you are grateful for, it is well received and you will get more of the same, more of the good, more good experiences and surprises and if you only start to do this for one day, one week and then contact me on your experiences, you will be amazed yourself.

7.    All of these advices and practices will transform your mind-set to now compile and prepare your financial plan and you are ready to face your creditors as you would have eliminated the far that has engulfed your life. Remember, they are human just like you and they understand, they just need to see your willingness, integrity and commitment and you may have won an ally.

8.    Interact with your creditors regularly and start building sound relationships, ensuring you gain their trust to meet your commitments.

9.    Create a harmonious environment for yourself at home and in your workplace.

10.    Learn to look forward to going to work daily and ensure you are productive and complete more than what is expected of you.

11.    Never leave your home without looking or feeling like a million dollars, because it makes the world of difference and enables you to face any challenges presented to you.

12.    Take pride in your appearance, how you present yourself and all that you attempt.

13.    Retain a certain level of humility and humbleness always, not subservient.

14.    Strive to make a difference in your life and everyone else who comes into contact with you.

Other key practices I advise you to follow every single day are:

1.    Learn lessons from your mistakes and be the first to admit them.

2.    Never stop showing gratitude.

3.    Be forgiving in the face of any adversity.

4.    During 20 minute for yourself every day. Ask sincerely from your heart what is it that you want and if you believe in it, then it will be given to you.

[Note 1:  Theda Muller is a UAE-based author of two books: Embrace Financial Freedom Volume One: 10 Proven Ways To Release Debt And Emotional Fears In Today’s Economy, and Volume Two: Releasing Fear And Bouncing Back From A Debt Crisis. She also conducts webinars and workshops on debt recovery.]

[Note 2: The views expressed are the author’s own and do not reflect in any way, the views of Emirates 24|7. Readers are advised to carry out their own due diligence before taking any decision.]