Tips like these helped us pay off $127K in debt. You can read our story in Slaying the Debt Dragon: How One Family Conquered Their Money Monster and Found an Inspired Happily Ever After.
What’s that you say? You’re sick and tired of being sick and tired of having no money? That’s awesome. I speak from the experience of being over $127K in debt and knowing exactly what it feels like to be overwhelmed and paralyzed, not knowing where to begin. I truly believe there is hope for everyone’s finances. To launch into what I would refer to as a debt slaying journey, you’re going to need some tools and inspiration. Here on Queen of Free, I specialize serving up both on a regular basis. As you take your first steps into your quest, consider these smart moves to begin paying off debt today.
Freaking Out? STOP
Here’s the deal. The pressure of not making enough money combined with an overwhelming debt load always leads to panic. And panic? No one makes a wise choice or a sound decision when they’re caught up in that emotion. Oh how I wish I could tell you that paying off all of your debt will be as easy as snapping your fingers or wriggling your nose. By the way, if anyone convinces you it is that simple, RUN. It’s more than likely a scam.
The first thing you need to do is to calm down and knock off the freak out. Yes, your situation is less than ideal. However, it is not the end of the world. So do whatever you need to do to clear your mind so you can focus on the task ahead of you. Strike a few yoga poses, take deep breaths, call a friend and chat for a few minutes. Once you’ve regained a clear perspective, then begin evaluating your situation. It’s going to be OK and you can do this.
Get Your Junk Together
Look, it’s awesome to build a vision board of places you’ll go and things you’ll do once you’re debt free. And I believe in the power of words, but motivational posters or graphics pinned on Pinterest will get you only so far. You do need to endeavor in the challenging work of getting organized. If you’ve never set up a budget before, you must have one to pay off debt. Check out these tips on How to Organize Your Monthly Finances or print these FREE budget forms. Tackle these 5 Fifteen-Minute Missions to Organize Your Finances. It’s time to pull on your big kid pants and face facts. You’ll feel much better after you’ve put things in order.
Go All Grandma on Your Household Systems
She bakes the best cookies and she probably is (or was) the smartest person you’ll ever meet when it comes cooking, cleaning, and running a cost effective household. From making your own laundry detergent to planning your meals, it’s time to go all old school on how you run your home. Granny hair might be on its way out, but it’s never too late to put tried and true practices in your house. From grocery items you should always have on hand to make quick meals to maintaining your car well, the smartest consumers know that what’s worked well in the past can still work now.
Take a Social Media Blackout
Way too many of us focus on what everyone else is doing and what everyone else has. The fear of missing out (FOMO) is an actual psychological disorder. Removing social media from your life, even just for a short period of time, can help you focus on gratitude instead of winding yourself out about what you don’t have. If you don’t see videos that fabulous vacation your college roommate is taking or scroll through pictures of your neighbor out at a hot new restaurant, you won’t know what you’re missing. And that could be a very good thing for your finances.
Resource Yourself Well
The best news I could give you is that there are hundreds and probably even thousands of people who are smarter than you and me put together. Why not learn from their wisdom. Head to your local library to check out personal finance books. See if your community center or local congregation is offering any courses about money management. There’s no need to fight this battle alone or without a specific strategy. Gather the resources you need to kick debt in the teeth in 2016.
This can be your best year yet. Make smart choices for your money and you’ll be surprised how quickly your debt dissipates. Looking for more ways to maximize your dollars? Be sure to check out Indiana MoneyWise the FREE eMag distributed quarterly by the Secretary of State’s office.
My book is now available: Slaying the Debt Dragon: How One Family Conquered Their Money Monster and Found an Inspired Happily Ever After. You can also check out Inspiration to Pay Off Debt: 30 Days of Encouragement from the Queen of Free
This post contains an affiliate link. That means when you get a great deal or maybe even something for free, you also help our family pay off our mortgage early. And for that, we royally thank you!
