Yesterday I went out for a run, it was the first real exercise I've had in forever. It wasn't a very long run by any means (maybe a mile) but I'm still sore today nonetheless. After feeling like I do today, 99.9% of the time I would just call it good and forget about continuing any kind of workout. But this morning I did something different, I searched for upcoming races in my area. I found a 5K scheduled for St. Patty's Day and decided to go for it. So, I've got about 2 months to train to run 3+ miles. For you health nuts out there, you probably think that's a piece of cake. But for me, it'll be a challenge. So, to prepare, I plan on setting some weekly goals in preparation for the race. And depending on how I feel after this race, I'll set new goals/targets to reach the next level accordingly. My ultimate desire is to get back to playing basketball, it would be great to join an intramural league again. But I don't want to be winded after running up and down the court just once. So, I figured that paying money to enter some races will force me to get back into shape. I should be less likely to stop working out when money is involved.
The approach I'm taking with getting back in shape is similar to the way I'm going about the debt free journey. I have the ultimate goal of getting rid of all my debt and even though I see the light at the end of the tunnel, I continually need to set interim targets so that I can win along the way. You see, if the only goal I had in this entire journey was to be debt free, I would never achieve it. At the start of the process, the debt seems insurmountable. And even if you build up enough confidence to get started, there are so many failures and let downs that occur along the way which will deter you from finishing what you started. Because this is a life changing process, it takes a tremendous amount of will power to push forward. The biggest force going against you is society. You will have to think and act differently than "the norm". Some things that happen during the journey won't make sense to others. But guess what, it doesn't matter. Let them stay in debt and be enslaved for the rest of their lives. "They" don't have to live with your debt, you do. So, unless they decide to pay off your debt for you, they don't have a say! Anyway, my point is that since there are so many obstacles in your way towards debt freedom, it's VERY easy to give up.
Since the start of my journey, I've learned to figure out different ways to have "WINS" that offset all of the disappointments and hardships along the way. Here are a few ideas I've come up with:
- Make winnable/smaller financial goals
- Surround yourself with strong supporters
- Visualize your progress
- Continue to dream
Make winnable/smaller financial goals - As I mentioned above, becoming completely debt free will seem impossible at times. So, you need to have interim wins to feel the power of success. Some examples I can think of are: Stay on budget (or under budget) for the week/month, Celebrate each time you pay off an individual debt, Take a vacation that you saved for, etc...
Surround yourself with strong supporters - I've already written a whole post on making sure your spouse is right beside you through this entire process. That should be the minimum amount of support you acquire. Getting family and close friends to support you is ideal, although you can't expect all of them to understand your journey. And if nothing else, join a support group. With Dave Ramsey being such a big name in the "debt free" world, there's bound to be Dave Ramsey classes or community groups in your area.
Visualize your progress - I've heard so many techniques people use to track their progress. Some people go with the traditional graph that shows the amount of debt dwindling down as time goes on, others get much more creative. I heard a story of a couple that filled their spare bedroom with balloons. On each balloon, they wrote a specific dollar amount that represented one of their debts. As they got rid of each debt, they would physically pop the corresponding balloon. How's that for visualization? Whatever approach you decide to take, make sure that it's substantial and that it's something you regularly view. I am an Excel spreadsheet geek. I look at my debt free spreadsheet everyday! It inspires me to reach the finish line and makes me happy thinking of everything I've accomplished thus far.
Continue to dream - Out of all the ideas I've shared in this post, this is definitely my favorite way of WINNING. I dream about my life without debt, a life where I don't need to work and am free to pursue my entrepreneurial endeavors. I dream about my kids going to college and not worrying about student loans. I dream about going into car dealerships and negotiating amazing deals on the cars of my choice because I can lay down the full amount in cash. I dream about owning my home outright and never having to pay another monthly mortgage/rent payment. I dream of spending retirement with my wife travelling the world and having enough money to enjoy all of the places we visit. I dream of my kids living their entire lives debt free because of the lessons I taught them. And the best part of all these dreams is that I know they will all come true!
To summarize, just like getting back into shape, getting rid of your debt can be a bumpy ride. There will be so many reasons to quit before you reach the finish line, so you need to make sure you win along the way. The success at the end of the journey is so sweet but all of the accomplishments leading up to the end should feel just as good!
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