7 Ways to Stay Motivated as You Get Out of Debt

Paying off debt is like changing any bad habit: It can be challenging and uncomfortable, but overall you know it’s good for you. You’ll need to keep yourself motivated. Otherwise, one moment of weakness with a credit card could set you back hundreds of dollars. Here are a few ways to keep your spirits high.

1. Count it down.

Take the time to figure out when each debt will be paid off, and mark those dates on your calendar. While you’re at it, spend a few minutes imagining what life will be like when this weight is off your shoulders.

Take the Next Step
    Use the Step-by-Step Guide to Paying Off Debt to calculate the pay-off dates for each debt.
    Start your emergency fund (even $5 will get you going) so a surprise bill will be less likely          to get you off track.

2. Change the way you think about getting out of debt.

Is it deprivation, or an adventure? A reminder of past failures, or a new beginning? Is if full of regret or promise? Positive thinking can make the whole process feel easier.

Take the Next Step
     Write out six specific ways that getting out of debt will improve your life, and put the list on          your fridge or in your wallet.
     Talk about your feelings with your spouse or a close friend. Ask them to help you          remember the positive aspects when things get tough.

3. Treat yourself often.

You don’t have to drop lots of cash to feel pampered. Just look for inexpensive ways to make your normal routines special, or take an extra hour to do something you love. Your journey out of debt will feel much smoother.

Take the Next Step
    Start a ritual weekly treat in honor of your debt-reduction plan—like a walk in the park, a          relaxing cup of coffee, or game night with the kids.
    If your treat is a tangible thing, set up a special drawer to pick from when you want to          indulge yourself. Add to it regularly.

4. Celebrate every success.

Getting out of debt is hard, and you should be proud of yourself. When you pay off a debt, stick to your spending plan, or make it out of the mall without pulling out the plastic, congratulate yourself! Give yourself a big pat on the back, brag to a friend, or indulge yourself with a personal favorite.

Take the Next Step
    List out a few ways you can reward yourself (hopefully for free or cheap).
    Mark a few upcoming celebrations on your calendar.

5. Learn to say “Oh, well.”

So you spied the perfect jacket, but can’t afford it because all your extra cash is going to pay off your credit cards. Oh, well. Or maybe you’re dying to see a movie as soon as it comes out, but don’t have an extra $20. Oh, well. There will be other jackets and other movies. Right now, you’ve got bigger fish to fry.

Take the Next Step

    Look around your house and pick out five things you regret buying. (Most of us have a lot          more than five!) Take a picture of them and put it in your wallet as a reminder.
    Use the 10-second rule. If temptation is really getting to you, take 10 seconds to list the          reasons why you shouldn’t give in. A lot of people find this is enough to get their thoughts          back on track.

6. Remember what it’s like to “make do.”

After decades of prosperity, America has pretty much forgotten the real difference between “wants” and “needs.” Hearing stories of the extreme measures our grandparents took to make it through truly hard times—like the Great Depression—can be a strong wake-up call.

Take the Next Step
    Look over your monthly expenses. How many of them do you really need? (Hint: It’s a lot          less than you think.)

7. Get inspired by stories of others who got out of debt.

You aren’t alone in this. Millions of Americans have gotten into debt and made it out unscathed. When you’re feeling discouraged, check out their stories for a quick reminder of what you’re working toward.

Take the Next Step
    Head over to Oprah.com , MSN Money, or the Wise Bread forums for profiles of others who          have succeeded in paying off their debt.
    Work on your own success story. Keep a journal of your struggles and successes, and          use it to remind yourself how far you’ve come.
    Tell your story and encourage others in the Allstate Community Forums.

Related Articles:
How You Can Create a Retirement Savings Plan That Works For You
A Step-by-Step Guide to Paying Off Debt
How to Manage Your Credit Cards
Is All Debt Bad?