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financesRecovery is not just about the mind, body, and spirit. It is also about recovery that encompasses so much more. The disease of addiction unfolds in stages that ravage everything from relationships to health and also finances. Overcoming addiction means the rebuilding process has to begin. Recovering from financial instability and even spending every last dime on substance use can feel daunting, but there are simple tips to get started in healing a person’s finances in recovery


Start with Addiction

Addiction is always the beginning and the end of fixing the issues that come with it. The first step needs to be addressing substance abuse head-on. Let go of denial and begin the journey forward. Examine how much debt has accumulated and don’t be overwhelmed by it. Sketch out a plan of where debt exists due to addiction. It may be utilities will be shut off, payment is behind on the mortgage and other issues of concern. List these first, even if debt looms larger than life. Examine areas of debt and consider the following:

  • What are minimum payments due
  • What is behind in payment
  • What has higher interest rates
  • Consider consolidation of debts for lower payments


Consider payments on loans like a short-term fix. The goal is not to have them hanging out there long-term. Hospital debt does not accumulate interest, so pay off interest-bearing debt first. Credit cards, high-interest loans, and other bills should be paid off ahead of those that don’t accumulate interest. Most hospitals work with people to keep payments low.


Watch Out for Bankruptcy

Before considering this option, contact people and ask whether they have forbearance. While this may negatively impact credit, it is better than no attempt at repayment and shows a willingness to make payments. Some creditors may call a lot but keep paying what is affordable unless they report to credit services. Consider refinancing the home to pay down debt or ask a relative for help if there is a struggle. Relieve the stress of interest rates with support from loved ones and the companies to whom money is owed. Don’t be afraid to ask them to help.


Financial Security

One issue that looms large for people with addiction is getting a job after addiction treatment, recuperating from difficult times at work due to addiction, or rebuilding their lives to save money from working that isn’t used for substances. A good financial advisor will tell people to have an emergency savings plan. If this is not the case, it will take a while to rebuild that in recovery. Set aside small amounts of money to add up to bigger amounts over time. The goal is to find ways to pocket a little bit of money after getting some type of work, or deciding where to put it if the job was not lost, and focus on healing from recovery. 


The Guest House Ocala helps people navigate their finances in recovery. Once you have gone through some treatment, we work with you to discover your goals and work on how to align your finances better in recovery. The key is to find support for addiction, help for the other challenges life brings and support for the journey ahead. Call us to find out how to get started: 1-855-483-7800