Debt Elimination and Lifestyle Change: A community blog

Linda Chavey writes about how to change your lifestyle habits in order to eliminate debt.

Defining Goals with Debt Elimination

Written by Linda Chavey, Community blogger | Sep 11, 2017 5:11 PM

Defining goals with your debt elimination plan can be complicated. Sticking to the plan may seem difficult, if not impossible. Setting goals on the lower side so they are obtainable may be a solution for a quick morale boost. If goals are set too high, they may seem unobtainable and motivation may be lost trying to reach them. Set your goals at a reasonable level. A reasonable goal may be to pay off a $1,000 credit card balance in 6 months. This would also entail cutting spending to increase the amount of money you will have to pay off the $1,000 debt. If you map out your goals with detailed definitions, along with timelines, this may give you a plan that may be easier to stick to. Hitting goals by sticking to your plan are part of the new lifestyle change. This can also become a habit. Some may find that they got themselves into their debt situation by not controlling their spending, which is also a habit. Once a new healthy habit is created, it gets easier and easier to follow. Also, practice looking at your goals on a daily basis. This will keep you in tune with them on a daily basis, keeping your focus on your goals. Once you hit the first goal, the subsequent ones will be much easier to hit. 

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