Paying off your debt is a lot like having a big homework assignment to finish that you quite simply just don’t feel like doing. It’s important to see paying off debt as a priority instead of a looming task that you push further and further back on the priority list.
One of the best ways to stay motivated is to remind yourself exactly why you don’t want to be in debt. By creating a motivating list which includes all of the reasons you would like to get out from under the burden of bills on top of bills on top of interest, you can stay motivated about paying them off.
Here are some of the best reasons for paying off debt that can begin to fuel your motivation.
You Can Spend Money Without Guilt
Living debt free means that you won’t have to feel guilty when you make a purchase for your own pleasure. Instead of buying yourself something special and having that heavy burden over your head whispering, “Tsk tsk, but you have to pay off that student loan first.” You can tell yourself, “You earned this. You worked hard this month, and you are now debt free. Go for it!”
It’s extremely satisfying to be able to know that any money you’re saving is going to something besides bills. There is a unique self-satisfaction and sense of triumph that comes from knowing that you have paid your bills and are now 100% free!
You Will Feel Less Stressed
People who have large amounts of debt tend to have a less positive outlook on money and being able to change anything in their lives. As long as they have the bank coming after them, they feel like they can’t progress or make any grandiose changes.
Don’t be a slave to the bank. Stress isn’t only an emotion, but it can also take its physical toll on you. People who have high levels of stress are more prone to health risks such as obesity and heart attacks.
If not for your own peace of mind, do it at least for your body so that you can live a longer and healthier life in which you can live to see your great-grandchildren.
Your Credit Score Will Increase
It’s no surprise that the higher your debt is the lower your credit score. The more debt you have paid off, the higher your credit score! Having a good credit score means that you can qualify for lower interest rates if you want to buy property or a new vehicle.
Having a good credit score these days is one of the ultimate tools to setting yourself up for a bright and fortuitous future.