In fact, that’s exactly when it becomes critical to keep your eyes on the prize — and beyond.
What do I mean?
Well, my husband and I are working hard at getting the last debt in our list paid off: our mortgage. There are months when we make great progress and are filled with motivation. We can’t wait to send in every extra dollar! Then there are the times when our dog needs a thousand dollar surgery, our cat needs multiple vet visits and expensive medication, and tuition for my son’s dual enrollment class is due. All in the same month.
But during both kinds of months, I spend a few minutes every couple of days thinking and talking with my husband about how great it will be when we are out of debt for good.
Of course I think about the money that no longer having a mortgage payment will free up (which I consider the prize that we’ll keep on winning), but I go beyond that to think about the other ways it will bring us freedom — the “beyond”.
Let me tell you, when you can live well on very, very little money each month, there are a whole lot more opportunities available.
If we disliked our jobs, we could quit without worry. If we want to explore some crazy business idea that may not make a penny, we can do so. If we want to travel the world without worrying whether or not we can get time off work, we can. If we want to start a foundation, we can do that too.
The possibilities are endless, and that’s the real freedom that comes when you don’t owe anyone anything. You can’t put a price on choice, so it’s worth working through the discouraging periods to get there.
We all have dreams, and it’s worth dwelling on them as we work to make those dreams possible. That’s keeping your eyes on the prize, and beyond.
This is a guest post from Jackie Beck who blogs at MoneyCrush and who also has developed a great app called Pay off Debt. Pay off Debt is a debt snowball app for the iPhone, iTouch, iPad and Android platforms. I was a beta tester for the Android version and I loved it.
Photo By toolstop