As the saying goes, “Anything worthwhile is never easy.” Paying down debt or reducing your debt is no exception. Thinking about the years it will take to pay down debt is overwhelming. It’s common for people feel ashamed and upset to the point of extreme procrastination-sometimes even for years-before tackling their debt. Yet the debt only gets worse with time. We need motivation-our driving force for change.
We’ve taught you the steps to pay down debt, but what about motivation? What can motivate us to get started? The credit counselors at Clearpoint Credit Counseling Solutions share some ways their clients have become inspired to face their debt and modify their lifestyles
Next, share your plan with a few of your most supportive family members and friends and ask them for support. Friends who know you’re on a budget don’t propose you go to expensive restaurants, but invite you to dinner at their home, or to go to a matinee or for a run in the park. If you have a family member who is good with money, and who is supportive, it helps to enlist him or her.
For those who would prefer to keep their finances to themselves, debt support groups are another alternative. Surrounding yourself with others you don’t know who are committed to becoming debt-free is empowering. Ideally, members share their financial problems, discuss strategies and provide encouragement. Addressing the emotional struggle around paying down debt is just as important as making a plan. iVillage is home to an online debt support group, but many communities also host Spenders Anonymous meetings. Check with meetup.com, churches, and community centers in your town for more possibilities. If privacy is important to you, you might also pay down debt with a DIY method, such as the snowball method, which also gives you confidence boosts along the way.
The strength to overcome your financial position is largely in your mind. By taking small steps to motivate yourself before beginning, you will improve your attitude and effectiveness.
Clearpoint Credit Counseling Solutions is a member of the National Foundation for Credit Counseling (NFCC) and a system-wide accredited business with the Council of Better Business Bureaus. To speak with a consumer credit counselor for a free financial review and recommendations, consumers may call 800.750.2227 or visit our “Get Started” page.
Our program can offer lower interest and waived fees while helping you become debt-free.Learn More