Are you working to pay off your debt? If so, I am sure you have become discouraged at one point or another. It’s not just a high probability, it’s almost a guarantee. Most people who are strong advocates of paying off debt¬†fail to recognize the difficulty. This leads people to be discouraged and give up, in my opinion. My stance is much different. I believe that people have to learn the truth – and the truth is that paying off your debt is more than just numbers. There is a lot of psychology involved in both the cause of your debt (assuming its consumer debt) and how to pay off your debt.

Why Debt is More than Numbers

Getting out of debt and living debt free is more than just allocating this amount of money to that fund or whatever. It takes more than just making more money or spending less. While it may be that simple to a select few, many people are in debt because they face financial challenges. When you are going through a tough time, it is hard to save money. It’s just like when you are over-weight. This often leads you to become inactive and eat more out of despair. Unfortunately this only makes matters worse.

A Balanced Approach to Pay off Debt

So, what does this mean? Is the new, easy solution then to take care of yourself mentally and socially and everything will be okay? Absolutely not. Life is never that simple. The way to pay off your debt takes a well-balanced approach. It certainly takes discipline and hard work, but it should never be rigid. Learn to reward yourself¬†along the way in order to keep moving towards the goal. Do your best to save as much money and spend less, but don’t kill yourself. Understand that it is going to take time and if you push yourself too much, it will cause a relapse.

It’s important to realize that while I strive to provide helpful information, no one knows yourself better than you. Find out what approach works for you and remember to make it enjoyable. While going cold turkey may work for some, it won’t be successful for everyone and you need to find the appropriate balance.