I’ve been feeling a bit down about money recently. After my big climb out of debt, I thought I’d never be back there again. I’ve learned valuable lessons about getting out of debt quickly and learned how to make more money in order to speed that process. What I hadn’t learned yet, was how to hold onto it when I had it!

I have now got that big loss out of the way, the one entrepreneurs talk about - The Big Learn. I lost a lot of money in a misadventure. It wasn’t even fun. It was enough money to pay off my mortgage and have lots left over! I’ve got over the shock of it, but it did damage my confidence in myself as a business woman, somewhat.

Over the last while, I’ve seen our business reflect that loss of confidence. It’s meant earning less and therefore, paying ourselves less. Belts were tightened and spending reduced. Now, I find myself back in debt. Not huge, but debt none the less. Of course, I have more stuff than last time I was in debt and my net worth has gone up a lot, but that didn’t make the feelings go away.

I started to feel less of a person, less substantial. I had a balance on my credit card I couldn’t clear. I went to pay some off it in the bank and they said they had an interest free deal going on. I didn’t want to waste my time or get turned down. I told them I was unlikely to get a card from them at the moment. I live in a small town and I know the people in the bank. They persuaded me to give it a try, so I did.

I am running an overdraft at the moment and they could see my account hadn’t had it’s usual, healthy flow, for a while. I do have a second account that I run my rental property through, but about the same goes in as out each month. So I braced myself for the no. I was shocked with the results. First, the clerk told me I had a good account with them. Then she offered me a card with £13,125 limit on it! That’s about $26,000. She also told me I could have a loan if I wanted it, immediately. Another £7,000. I politely declined, that but got the card. I never swap short term debt for long term, unless I really have to. When I start to earn again, it will be paid off quickly.

The net result of my visit to the bank was a saving of about £75 per month in interest fees. That was excellent in itself, but the real benefit was in how I felt. I walked out of the bank feeling like I was worth something again. I know that sounds like nonsense, because it was all loans and I will only use just what I need, nothing more.

Even thought there’s a credit crunch on, I am worthy of loans and considered financially sound. I had to negotiate a deal later that day - the extra I made on it, because of how I felt, will pay off the card before the interest free period expires!

If you’re in the situation I was the first time I was in debt, it’s a grind. You will either get through it with long term discipline or learn to make more money and get it gone faster. The second time around is so much easier. It’s been done before. People thought the 4 minute mile was impossible until Roger Bannister did it. After him, there was a flood of people doing it. It’s the same with debt - I promise. If you know your credit rating is ok, apply for a loan every now and then. Don’t take it, but it sure feels good!