I came across an interesting post today on Blogging Away Debt. In this post Tricia talks about what keeps her motivated to continue paying down her debt. Since I have recently finished paying my debt off (YAY!) I thought I would write about my take on this article.
Tricia’s motivation for this venture began when she wrote a list of 10 ways to keep herself on track. I especially agree with number 6: “Add Up All of Your Monthly Minimum Payments on Your Debt”. Knowing how much interest I was paying every month for NOTHING was the biggest motivator for me. Having debt is like flushing money down the toilet!
Number 8 is another big one for me: “Allow Yourself Mistakes!!”. There will always be setbacks, and sometimes you have to spend money on just having fun. Things happen; your car might break down, or your computer could blow up.
Some of these things happened during the time that I was paying off my debt; I also made some HUGE mistakes. I had to try not to dwell on the mistakes, focus on how far I had come, deal with the problem and then move on. Worrying about things will only stop me from moving forward.
Tricia writes about how she reads stories written by other bloggers who have stuck with it and are now living debt free. It’s always encouraging looking to the future seeing what others have done for themselves.
Another major source of motivation for her is family. Although I don’t have kids, I can relate to that. I would really like to be able to help my parents out some day since they have never really had much for themselves. The path that I have put myself on will allow me to do that.
The author of this article also talks about her blog being a major source of motivation. After laying her financial goals out to the world, everyone will know about it if she goes on a major spending spree. She will also be able to post a celebratory message to her readers that she has finally become debt free. I have recently (finally) achieved paying my debt off and I can say that it was a very exciting day for me. Now I can focus on moving forward instead of looking back. I wish Tricia luck on the rest of her journey, I’m sure she will get there soon.