Imagine your goal
Take a few minutes and try to imagine having no debt. What would you do? Imagine not having to worry about bills; imagine not being stressed when thinking about your credit card. Feels great, doesn't it? Take time to think what you will do when you're debt free. It could something as simple as getting a good night's sleep. Hold on to that feeling. When you feel depressed about your debt or inclined to spend more than you should, think about your goal and keep going.
Sometimes you need a physical reminder of your goals. Create a vision board and keep it somewhere where you can see it on a regular basis.
What can you put on your vision board? Pictures of cut-up credit cards, money or even future plans like travel to exotic locales or a picture of your dream house. Whatever inspires you to pay off your debt should go up on the board. This should includes ways and means of paying off your debt -- so a new job, coupons or discounts should all be included.
Plan your dream budget
Paying down debt requires a budget, but what happens when you're debt free? You still have a budget, but now it's a budget where you can do what you want. Want to travel? Then take the money that was previously allocated to debt repayment and take a trip. You can renovate your home and pay cash. You can also, on a practical note, dedicate that money toward your retirement and increase contributions to your RRSP, TFSA or other investments.
Tell a friend
It goes both ways. Friends can encourage you to spend more, but they can also inspire you to pay off your debt. Talk to them about your goal, ask them for their support and you might find that they have ideas that could help you.
It takes patience, planning and time to pay off your debt. It also takes some imagination and creativity. It can be a tedious process and it's easy to be tempted to just give up and live with debt. But remember your dreams, goals and future budget and you'll be inspired to stay on track.
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