Today, I’m going to share some helpful tips on how to never let paying off your debt become an obsession.
Take it easy
I know you must be thinking Candice that’s easy for you to say because you paid off all of your student loan debt already, but hear me out!
Just like losing weight, it’s also important to take it easy when it comes to managing your finances. I was able to lose weight by slowly cutting back on my bad food intake. It was a process of slowly weaning myself off of the bad food.
The same is true when it comes to paying off debts. You can’t just switch from paying just the minimum amount to suddenly paying a thousand dollars, aiming to be debt-free as quickly as possible. You can’t just stop going out, having fun, or going on vacations. You’re going to be miserable.
I did a debt challenge once for 11 weeks. It did help me pay off one of my student loans but because I was putting every dime I had towards my debt and I was miserable. I ended up booking a spur of the moment vacation to Aruba just to enjoy myself.
If I could go back in time, I would never put every single penny I have just to pay off my debt quickly.
Set aside some guilt-free money
You need to set aside some money in your spending plan that will allow you to still have fun. What’s the point of trying to reach your money goals if you’re miserable every step of the way? Life shouldn’t be spent working and paying off debts. Don’t deprive yourself of the good things in life, but at the same time don’t get crazy lol balance!
Have an end goal for your debt
You need to have an end goal that will allow you to reach your goals but at the same time, let you enjoy life. It’s easy to read those debt blog posts about how people paid off their $50,000 of debt in 6 months and want that to be your goal. Be you boo! Everyone’s situation is different, stay in your lane figure out what works best.
You need to be disciplined enough to know your limits and that doesn’t necessarily mean depriving yourself. Remember, all work and no play will make you a dull person. All you need to do is get your finances in order — a long process that will take a lot of hard work and dedication, but one that will be worth it in the end.
Avoid checking your debt all the time
You’re checking your debt like a dry phone on a Saturday night, every 5 minutes he did not text you move on lol
The same is true with your debt. It’s not going to magically move. Stop checking on your debts too often. It can be easy to become obsessed with it but don’t be a slave to your debt ! You need to calm down, take it easy, don’t rush the process, be patient, and just have all the fun you deserve.
If you went a little crazy on your credit card when you were younger or let’s face it even if it was last month you can still move forward and make new choices. You don’t have to dwell and stay in the old place yes you have debt to pay off, but just by sitting down and making a plan you are making progress. You are now being aware that okay this is what I want and moving forward I will make a different choice and that is so powerful.
Debt can be an investment
I know that we have been trained to think that debt is the devil, but education is a wonderful investment. You were able to gain knowledge that you can use to make money. (hopefully) Even if you decided to invest in yourself and hire a coach or sign up for a new class and that new knowledge will allow you to be able to make way more money than you had to initially spend that sounds like a win to me. I know not all people view debt as an investment but since I’ve paid off all my student loan debt, I’ve been viewing debt differently especially when it comes to investing back into my business. Maybe by switching your views on debt it will make paying it back a tad bit easier.
BUILD YOUR FIRST 5K!
No matter your goal you will need money to achieve it, join my free 5 day email series where I'll go over how to build your first 5k so you can reach your money goals.