A debt free journey is not for the faint of heart. It takes hard work, determination, and sacrifice. You may get discouraged from time to time and that’s okay.
We’ve all been there.
It’s what you do when you’re down that determines how the rest of the journey will go. Make a plan for the down days. Here are five ways to stay motivated – or regain motivation – while paying off debt.
Just starting on your debt free journey? Start here: A Beginner’s Guide: How to Get Out of Debt and here: How the Debt Free Snowball Works in 4 Easy Steps.
“And when you’re in a Slump
Dr. Seuss – Oh, the Places You’ll Go!
you’re not in for much fun.
Un-slumping yourself
is not easily done.”
Determine the Source
First, you need to determine the source of the discouragement. Is it internal or external? Internal discouragement comes when you are tired and worn out.
You’ve squeezed every extra dollar out of the budget and you don’t feel any closer to your goal. You’ve been on the journey for what feels like forever and you don’t know if you can eat beans and rice one more time.
External discouragement comes from those around you. Your friends and maybe even family may think you’ve gone crazy all of the sudden. You may hear things like “everyone has car payment, student loans, credit cards” and “debt isn’t that bad.”
While it may not be for them, that’s not the path you’ve chosen. Maybe you’re working towards financial independence and you hear things like “why would you do that,” or worse, “that’s not possible.”
Find a Community
Most people who really care about you will be supportive (as long as you’re not taking it too far and being self destructive.) If the discouragement is coming from those close to you, politely tell them that this is something that’s important and you would appreciate them being supportive.
If they still aren’t, be okay with it. If this is really important to you then, with a humble heart, ask them why not. Accept their reasoning. This may seem odd but if their support or lack there of affects you, knowing why can provide understanding.
Hey, maybe in a few years time they’ll see the financial freedom you’re enjoying and will want that for themselves! Looks like you weren’t so crazy after all.
Surround yourself with like-minded people. On all the social media platforms, you’ll find a Debt Free Community. On Instagram, search #debtfreecommunity. You will find tons of like-minded people who were also deemed “weird” for pursuing financial freedom. Some post motivation daily while others share their personal journey.
Subscribe to my YouTube Channel for a mixture of both!
You can follow me on IG @familymakescents for a mixture of both! You can also find me on Facebook and Pinterest. Who knows, you may even want to create a debt free journey profile!
Read Success Stories
If you’ve been on this journey for any length of time, you know that one does not simply wander out of debt. It takes hard work, determination, and sacrifice. Every day, people are winning with money.
There’s nothing quite as motivating as seeing people who are just like you, reach the same goal set before yourself: debt freedom. If they can do it, you can do it. Do you know of anyone in your circle of friends or family who got out of debt? Have a talk with them.
Personally, I like to listen to debt free screams, people literally screaming “we’re debt free,” on The Dave Ramsey Show’s YouTube channel. I get goosebumps hearing the struggle they went through and yet are still standing tall with the proud grin of accomplishment. Some even went so far to pay off their house early! #goals.
The #debtfree and #debtfreeliving hashtags are full of success stories.
Rediscover Your Motivation
What motivates you? Why did you start this journey in the first place? Maybe you want more time to spend on hobbies. Maybe you are saving for your dream house. Take a day and experience how life would be once you’re debt free or financially independent. Work on hobbies or tour your dream house. Spend just enough time to get motivated, but not too much time that you become discontent with your current situation.
- Related: How to Set SMART Goals
Personally, we’re doing it for more time: time with family, for missions, and traveling. I want our baby to grow up serving THE MAN not the man. If we quit our jobs to be with family and travel now, before we have the means, we’d be back where we started: broke and in debt. Going back to work and everyday life would be even more discouraging.
Our dream day would be a whole day as a family. When the magical day is over and you’re back to reality, remind yourself this is why you push through the hardships.
Reward Yourself
“All work and no play makes Jack a dull boy” is a saying for a reason. Let’s face it, we all need fun morale boosters every once in a while. You’ve been working really hard at your debt payoff. Create a reward system.
Reward yourself in increments. Every ‘x’ amount of dollars paid toward debt, put ‘y’ amount in a “fun money” fund or do something you enjoy. What have you cut from your budget during your debt payoff that you really miss? What is a small enough reward that it won’t set your journey back but big enough that it brings you satisfaction?
If you don’t have one already, add a spending money category into your budget. It doesn’t have to be a large amount, but having even $20 a month to spend however you like will help lighten the “no spending, no fun” mood.
Bookmark these Budget Friendly Rewards for Becoming Debt Free for when you’re out of debt!
Keep up the Good Work
Embarking on a debt free journey takes courage, but continuing takes dedication and determination. The drive can falter every once in a while but it’s what you do when it does that determines how the rest of your journey will go. Keep up the good work!
Looking for ways to save money to jump start your debt free journey? Check out these below!
- 4 Money Saving Challenges You Can Start Today
- Check Your Subscriptions | Money Saving Challenge
- 18 Ways to Stay Warm Without Turning up the Heat
- Save Money by Reducing Your Water Usage
- How to Stay Cool Without Air Conditioning
How do you stay motivated? Let me know down in the comments below!
I love this! When we were doing the envelope cash system, we stayed motivated by having little rewards along the way like eating at a very nice restaurant when we reached a goal.
The debt free screams are so motivating! I enjoy reading how much money they paid off in the short period of time. It’s always impressive.
I agree, it’s so impressive! They’re great to watch when the goal feels so far away.