This post may contain affiliate links, which means I’ll receive a commission if you purchase through my links, at no extra cost to you. Read my full disclosure for more information.
KEEPING MOTIVATION TO PAY OFF DEBT
Paying off debt can be tough. It can often leave you feeling hopeless and like it will never be gone. You may feel like what’s the point? I’m here to tell you there is hope.
Some of the best ways I’ve found to stay motivated are to get educated about debt and to be around people who have similar goals as you. But how do you do this?
Don’t worry I’m not going to tell you to go back to school or join a support group for people in debt.
I’m going to show you EASY ways to stay motivated throughout the days, weeks, and months.
I actually use these tips for all of my goals not just paying off debt so keep reading and PIN THIS article for later as a reference.
5 WAYS TO GET MOTIVATION TO PAY OFF DEBT
Books are probably one of the best ways to get educated and motivated. I’ve made it a goal each year to read a book a month at least. I actually prefer audiobooks because they’re faster to absorb for me.
Not sure what to start reading? A good one to start with is The Total Money Makeover by Dave Ramsey.
Be sure to also check out my list of personal finance books that will change the way you think about money. This list will help you decide on some books to read this year.
MONEY SAVING TIP: If you like audiobooks and eBooks I highly recommend Scribd! You can access an unlimited amount of books each month for one low price. Use my referral link and get a free trial here.
I LOVE podcasts! I can actually say I’m a little obsessed with listening. I listen in the car, while cleaning and just about every chance I get.
Oh, and did I mention they’re free! You can download or stream them right from the free podcast player on your phone and some right on the website of the podcast.
Not sure which ones to start with? I have so many favorites but again my biggest motivator would have to be Dave Ramey’s podcast because he is constantly sharing debt stories and he gives it to you straight.
For my favorites check out my list of Personal Finance Podcasts. Add a few to your podcast player and start listening now.
Ok after reading this post you might think I love everything but I really do love learning so courses are another one of my favorite ways to stay motivated.
You can probably call me a course junkie because I love courses that much. Personal finance and blog courses are my favorites.
Personal finance courses are a great way to get educated and stay motivated to reach your financial goals. Most of the courses I love come with a community aspect, motivational videos, and resources so you’re not feeling alone while taking them.
One of my favorite resources is the Master Your Money Super Bundle because it has a ton of courses, printables, and ebooks in it for one low price so you will be good for a while. You can check that out here.
Another favorite especially for focusing on paying off debt is the Financial Reboot. This course is great because it was created by someone who paid off $37,000 in debt herself and not just a finance “expert”.
You can check it out here.
Check out more of my favorite courses on my resources page. Be sure to bookmark it for later as well.
4. Small Wins
Having small wins along the way is proven to keep us going when it comes to reaching our goals.
Small wins encourage you to move forward and make you feel like you’re accomplishing your goal.
This is one reason why the Debt Snowball method is so popular for paying off debt.
In the debt snowball, because you’re paying off your debts smallest to largest, you’re eliminating debts faster and getting the small win each time you wipe out a debt.
For example, say you have four credit cards with balances of $10,000, $3500, $2100, and $800. If you were to start tackling the highest balance it would take you a very long time and you may lose hope and motivation along the way feeling like it will never be paid off.
But if you were to tackle the smallest balance of $800, pay it off in a few months and then check that off as done, you will feel that sense of accomplishment.
You would then move on to the next one and while it may take a little longer you will get many small wins along the way to keep you going.
MORE READING: Not familiar with the Debt Snowball? Learn about the debt snowball here.
5. Make it Fun With Challenges and Printables
Do you love a good challenge? Challenges are a fun way to make paying off debt more doable.
Set a goal, use printables and money-saving challenges to make it fun and almost like an assignment or game.
I love using money-saving printables as a way to stay motivated and challenged by my goals.
You can check out my digital shop to find fun printables like the ones pictured below! They are instantly downloadable so you can get started right away.
In order to reach your goals, you need to take action. You can’t just read this and say it sounds good. You have to take action now!
Start by making a list of the items below:
- Make a list of books you want to read.
- Make a list of podcasts to subscribe too.
- Make a list of courses you’re interested in taking.
- Subscribe to my newsletter and get access to free resources to help you! PLUS FREE BUDGET PRINTABLES! You can subscribe here.
Be sure to also come back and read more money-saving articles. Create a Pinterest board and save all the articles you find helpful to you. Start by pinning this one!
Questions? Comments? Leave them below this article and I will be sure to answer them.