Lydia here from Financielle.
We recently got an Instagram DM that I loved:
“Do you have any tips for just keeping going? I’ve calculated my debt pay off date is still about 2 years away. Has anyone shared any advice or tips for keeping the faith during that time?”
First of all – she knows her debt free date! That alone puts her miles ahead. Most people carrying debt have no idea when it ends, and she’s turned hers into a countdown.
But two years is a long time to stay motivated, so here’s what I told her (and what the community swears by).
Celebrate every milestone
Every £1k cleared, every debt closed – celebrate it! Post it in the app community and let people cheer you on. Those little wins are what carry you through the unglamorous middle months of a debt free journey.
Watch the interest shrink
As your balances come down, less of each payment goes on interest and more hits the actual debt – which means everything snowballs faster than you’d think. Your second year will move quicker than your first – seeing that can be so motivating!
Budget for fun stuff
It’s easy to fall off the rails when you’re being too strict with yourself. Keep some small fun sinking funds going (i.e. a meal out, a birthday treat) so you don’t burn out. A plan you can stick to for two years beats a perfect one you abandon a few months in.
Zoom out
When the day-to-day feels slow, track your net worth and watch it climb. Every single payment moves that number in the right direction, even in the months where nothing feels like it’s changing.
The two years will pass anyway
The last thing I said to her was that the time will pass anyway, and she’s chosen to take care of her future self and become debt-free.
She replied saying that a few years ago, she was completely stuck with no idea where to start, and now she has a plan and a date. We’re so proud of her and can’t wait to hear her updates.
What’s kept you going on your debt free journey? Come and tell us in the community – your milestone might be exactly what someone else needs to see today.
This content is for general information only and does not constitute financial advice. If you need advice tailored to your personal circumstances, please speak to an authorised financial adviser.