The comparison between losing weight and dumping debt has intrigued the Divas for some time. As we continue to help people work towards debt freedom and I inch toward minimizing this post baby bump (not cute after the kids start walking and talking), the similarities are clear. In both cases, discipline and internal motivation are essential ingredients. Weight loss and overwhelming debt can present as insurmountable obstacles; especially as the numbers grow. However, we can borrow from lessons learned in the success with one challenge to encourage us as we work through the other.
- A long term perspective is required. Adding weight, or debt, did not happen overnight. Unless you employ a radical technique (i.e. surgery or the lottery), neither will disappear quickly either. In each case, it helps to visualize your end goal as you take each step. Settle in for the long haul.
- Birds of a feather support each other. I joined a running group recently for accountability regarding my fitness goals. So far, it’s working. Grant it, this is week 1, but each day represents progress towards the goal. In this case, the goal is a 5K. Money buddies can also help keep you on track. Setting a regular check in and allowing your buddy to probe and dig deep keeps you on the right path.
- Education promotes mindset modification. When you know better, you can choose to do better. I recently attended a seminar on healthy eating. Some information was new. Some reinforced concepts with which I was familiar, however just not implementing at the moment. Improving your understanding of financial management tips and techniques will also help you make better choices moving forward.
- An interim celebration motivates. I reward positive results to encourage continued progress. Find a way to celebrate each bill you dump along the way.
- You feel lighter once you’re done. Having lost a good deal of weight in my late 20’s and a great deal of debt in my 30’s, losing an unwanted burden lifts your spirits. Whether fitting into skinny jeans or eliminating money related stress, your outlook improves dramatically in either case.
Chime in with other debt dumping and weight loss similarities.