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The Mental Game of Debt Relief
Following a plan for debt relief isn’t easy and there are many days when you feel like you’re not getting anywhere. There are those months when the you-know-what hits the fan and that extra money for debt has to go for something more pressing and so that giant pile of debt continues to loom overhead.
This is when the mental game of debt relief comes into play. Can you see your plan through? Or will you at some point succumb to throwing your hands in the air and giving up?
One month, I did just that…threw up my hands up and said, “Eff it!” It was a rough month with little money coming in and unexpected (and expensive) expenses coming in that cleared out our emergency fund and the money we used towards my debt snowball. I was so discouraged that I simply gave up and went back to using credit cards for everything….we ate out a lot that month too. It didn’t help that my husband was clearly relieved not to be on “The Plan” anymore.
After a few weeks, regret started to seep in and I felt sick that I gave up so easily. A little voice in my head began whispering those trite clichés, “When you fall off the horse, just get back on.” And, “Pick yourself up and dust yourself off…”
And so I did. This was a little over three years ago and today we are on our last debt – a hefty student loan for my son. I figured we were spending money left and right all those years when we should have been saving for his college and didn’t. The loan belonged to us and not him.
If you can stay mentally in the game of debt relief and not give up at the first sign of trouble, you will become debt free. It is guaranteed there will be times when you don’t think you’ll make it, but if you stay focused and roll with the punches (more clichés!), eventually you’ll come out on top.