Debt can be burdensome. It can weigh you down and make you want to scream. But remember, at the end of the day, you can overcome debt. While it can be difficult to shed excess debt, do not give up. At the end of the payoff is a new opportunity to boost savings, investments, and a renewed ability to look forward to retirement. If your debt has got you down, check out these simple ways to stay motivated paying off debt.
Do not think of your debt as one massive number. Looking at it that way gives off the illusion it will be hard to overcome. That will leave you feeling overwhelmed. Instead, break that debt down into milestones. You can say, “every week, I want to put $20 extra towards my debt,” and focus on that. You can opt for a monthly contribution towards debt repayment as well. As you get more comfortable, you can set larger yearly goals. Remember as you start to make your goals simple, gradually making them more difficult as your comfort level increases.
When you reach those milestones or goals, do not forget to celebrate the achievement. This does not mean go crazy and spend money on a lavish vacation. Opt for small daily pleasures like making your favorite desert, going to the spa, or anything you deem rewarding and motivating for you. When you reach those larger milestones, you can opt for big but financially responsible rewards. I just set some goals for myself and wrote out some simple rewards. One reward included taking a day off work to relax and watch movies. My big reward is a trip to the Oregon coast only after I have reached 100k in savings and investments. I have a long way to go but something awesome to look forward to when that day comes.
Get in the habit of visualizing your debt-free life. What does it look like? Who is there, and what are you doing? Think about everything you have in life and what your debt stands in the way of, then put it on paper. Use magazines, journal articles, doodles you drew yourself, and strengthening words that bring to life your desires. Put your vision board on the mirror or other frequented place in your home or car. Visualizing your desires will help you stay motivated paying off debt.
I use all of these tools in my daily life. There are many other ways to keep you motivated. For more information, check out the posted video.
Shatel Huntley has a Bachelor’s degree in Criminal Justice from Georgia State University. In her spare time, she works with special needs adults and travels the world. Her interests include traveling to off the beaten path destinations, shopping, couponing, and saving.