Marc Serafino
It is everything but easy to get out of debt. Whether that’s a student debt, an auto loan or a credit card balance you want to clear out — you will need to put in some extra work to make it happen.
In that sense, you — all of us for that matter — could use some added motivation to get going. Have no worries, we have prepared the…
6 Ways To Motivate Yourself to Get Out of Debt
1. Get a perspective
What you want is to relate your money goals with your life’s goals. Where do you want to be in 5 years? How about 10? 20? Spend as much time as needed to think it through to get motivated. Then turn that motivation into action, and start planning your way out of debt. It’s not as easy as just saying it, which leads us to the next point…
2. Write it down
And write it in the present tense. Instead of saying (writing, actually) “I will pay off my debt” — which sounds too uncertain — say “I am paying off my debt.” Better yet, write “I have paid off my debt.” Look at what you wrote and get inspired. This is how your brain is working; it will get to learn that sentence and even subconsciously start changing your behavior.
3. Spread the word
Tell your friends about your plans to pay off your debt. As third parties, you will want them to keep you accountable, and remind you from time to time about your goals and intentions. Another friend could be your cheerleader. Or you can have a single friend for both “purposes.” The best scenario is to have multiple friends for this, but even one would “work.”
4. Set measurable goals
What you want is a certain amount of dollars put on a side every week. You want to come up with one number which you can stick to. Some people set two numbers, one is their bold goal which they can’t reach at all times (though they try), and the other one is relatively easy to reach. You will have to determine whether such setting can work for you (you may want just one number).
5. Stage the process
A good way to organize yourself in this journey is to create, say, three stages. The first stage is a starter to get you going, like the first $100 collected for the debt repayment. This stage should be reached in one month. The second stage takes at least two months, after which you may have saved $500 or more towards the debt repayment. Finally, the third “almost done” stage is the time when you’re close to paying it all off. At this stage, you know what you’re doing, and you can point to the date when you will repay the debt completely. It is important to define these stages for yourself, and as much as possible, try sticking to them.
6. Focus
You are reading this because you want to pay off your debt, right? Well, act accordingly. Paying that debt off should be your number one focus so whatever you’re doing, do it to get closer to that goal. Whether we are talking about a student, credit card, auto or any other kind of debt, by paying it off, you will feel better, and will be able to move with your life with one burden off the way.
Get busy
Hopefully, you have find the motivation needed for the road ahead. It won’t be easy, but paying off your debt is well worth the effort. You may have to take another job (check out few of those here), and you may have to say “no” to some opportunities that appear along the way (and even be “selfish” with your money). Again, it’s worth it.
And if you need some push along the way, try engaging with our community either by commenting on this article or by joining us on Facebook. We would love to help…
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