If you are currently trying to pay down debt… beware.. there will come a time where you lose the will to keep working at it.

“We can go on vacation with this money… or we can watch it disappear somewhere in debt payoff land”.

Here are two big tips to keep you motivated…

Tip #1. Create short term wins.

Let’s say, as an example, that you have student loans, cars, and credit cards to pay off.

Take the smallest debt and work towards knocking it out.

Maybe it’s $2,000 and your total debt is $100,000. Focusing on paying the smallest ones will give you a chance to have little “wins” and keep you motivated to move forward.

Tip #2: Understand the impact.

Paying off debt has a ton of advantages in the long term.

One of the biggest ones is the stress that it takes off of you and your family. Did you know that financial struggles are one of the leading causes of divorce?

And then there’s the freedom…

What dreams do you have? What goals do you have? How does debt impact your future decisions and ability to pursue those things?

I know it’s easy to get caught up in owning nicer and better things… and that is okay. But it’s not okay to have those things own you.

If you can stay disciplined now and set a good foundation, later you will get to enjoy the freedom that those decisions create!

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