70% of the way there.
Your debt snowball starts looking like grades in school.
As you decrease your debt, you get halfway (we passed!), then you get to 60% (we’re average!) and then you get to 70% (above average?!?) - and then you get tired.
Not tired like “spending foolishly”, not tired like “borrowing money again”. You’re tired because this has been a really long journey.
You’re tired because you look around, and there’s a lot of folks who are more “financially flabby” than you are. Or that you feel like you’re “out of the woods” in a way - that things are better than before, so you can take your foot off the gas, right? You’re not cheque to cheque, and you’ve got more cushion than most, so you can quit running?
I don’t think so, and here’s why. And as usual, I have a few Biblical principles to pepper in here: Proverbs 6:1–7, signing surety. The borrower is a servant to the lender, (Prov 22:7). Let no debt remain outstanding except...to love one another, (Romans 13:8).
Katelyn O’Hashi didn’t stop 70% of the way through her perfect ten floor routine because it was “above average”. Tiger Woods doesn’t quit halfway through the 12th hole. And nobody would be talking about them if they had.
When I coach people, sometimes they have difficulty figuring out why they’re motivated to pay off debt - frankly, it feels easier not to. Let the minimum payments take their course, lease things that depreciate, on and on the conversations go.
In these conversations, I zero in one this point: particularly when folks are having difficulty finding their sense of motivation, their “why” - is that they owe money. They accumulated debt, they owe money, they signed up for a bad trip. It’s not something they can walk away from (Psalm 37:21 - the wicked borrow and don’t repay).
Does being in debt just feel so good to you, watching those minimum payments steal your income, your future, your children’s future (Prov 13:22 - inheritance to your children’s children), that you just can’t bear to part with it?
70% down, 30% to go.
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