Today’s post comes straight from the heart. Anyone who spends any length of time paying off debt is bound to face it. And it’s all about how you deal with it.
Day 24: Deal with Disappointment
We’ve already moved through the steps of learning how to forgive yourself you begin the debt slaying process. We’ve spoken about the need to keep focused on your journey and not be wound up in the journeys of others. However, the day will come if you spend an extended length of time seeking to pay off debt, that you will be discouraged.
And maybe even disappointed.
For us, those days have most frequently come when unanticipated expenses have cropped up.
A car breaks down.
A child gets sick.
A surgery is needed.
A root canal is performed.
Your water heater quits heating.
{By the way, all of the above (and more) have happened to us since we started paying off debt in April of 2008.}
This is why it’s key before you ever pay a penny of debt off, you need an emergency fund. The very first step that Dave Ramsey’s Total Money Makeover
And it is a VITAL step. Because something can go wrong. And it will go wrong. And you’re going to be tempted . . .
To charge it.
To put it on a payment plan.
To give up paying off anything as you spiral downward in owing more and more.
But if you have that $1000 emergency fund, you might have enough to pay off the unexpected expense completely. Or at least get a good jump start on it.
And while you may be annoyed, discouraged, or even disappointed, you will be less likely to give up.
Don’t forget that after you use your emergency fund, you need to immediately start rebuilding it. Pay minimum on all debts until you have a safe $1000 again.
Because an unexpected expense? It’s right around the corner. It’s lurking in the darkness. Like a thief wanting to steal your joy. Like a weight wanting to weigh you down. Like a jailer wanting to imprison you and throw away the key.
You have to prepare for the unexpected if you really want to slay debt.
Or discouragement will lead to disappointment.
And disappointment will cause you to feel defeated.
And a defeated feeling will make you give up.
And that’s the last thing we want, Money Saving Lords and Ladies.
When have you encountered an unexpected expense in your debt slaying journey? How have you overcome it?
