I mentioned briefly in a previous post that I could stand to lose about seventy pounds. I got to thinking that this is similar to someone who needs to get rid of about $20,000 in credit card debt.
Accomplishing both feats — weight loss and debt loss — have similar sets of actions that can be used for either goal, and probably just about any goal.
Tricia at Blogging Away Debt had an excellent post on how to stay motivated to become debt-free. This post clarified some of the actions that she's using to reduce her debt. I drew some ideas from there as I created this list:
- Make yourself accountable, and ask for support. Tell the world through a blog. Participate in discussion forums. Get support, and also ask others to help you stay on track. Do the same for them. (I may see if the No Credit Needed Network has room for me on the right sidebar.)
- Pay attention to details. Whether it's monitoring your finance charges, debt balance, and minimum payments, or whether it's weighing yourself regularly and measuring out food portions, gathering metrics to chart progress toward your goal is crucial.
- Take it easy on yourself. It's not going to be a smooth walk forward; there will be some backtracking. An expensive dinner out (either buying or eating it!) Admit the shortcoming and continue toward the goal. Don't keep kicking yourself if you mess up.
- Compare where you are to where you were, not to where others are. It's not fair to yourself to get discouraged by someone else's net worth. Nor is it fair to get discouraged by someone else's waistline. If your credit card (or BMI) is less than it was before, that's what matters.
- Reaffirm to yourself that this is a good thing you're doing. Good for your finances, good for your body, good for your spirit.
Thanks for the infomation. i hope to be debt free by 2010 🙁
Similar way of thinking: Loosing Debt the Healthy Way
I actually have experienced both at the same time. I started Oprah's Debt Diet a few months ago. I had about 2,000 in savings at the time. I don't make alot of money, but I felt as if I should have alot more in the bank than what I did have. SO when I looked at my expenses for the month, I noticed that I spent the majority of what I earn on food and books. Since starting, I have lost about 16 pounds in about four months and I have increase my savings by about $6000. BOth of my sucesses feed off of each other. I recently have gotten frustrated by the rate of the weight loss, but I am still excited by the savings and the interest payments on my new high interest savings accounts.
Thank you for the nice words about my article 🙂
I see you joined the No Credit Needed Network – I'll be rooting you on!
Thanks for your comments. Eryka, examining where your money goes is a good thing to do — great job! Thanks also Tricia for the words of encouragement!