Reach that goal!

Whether you are training to run a race, trying to break a bad habit (like chewing your nails or smoking), or trying to get yourself out of debt, much of the same strategy can be employed.

Getting out of debt, like these other things, is a commitment to change, with short, medium and long term milestones.

Here is a one-size fits all approach to making that change.

State your goal

Yes, this seems obvious. But despite the fact that this is overtly obvious, you’d be surprised at how many people miss the mark on this one right out of the gates.

What’s your goal specifically? Instead of the generic “get out of debt”, say, “I want to pay off my $5000 credit card debt” or, “I want to reduce my debt so that I can qualify for a mortgage.”

Remember, the more specific the language around your goal, the more accountable you are- which means the greater the likelihood that you’ll achieve your objective.

Do the math

You’ve determined the  what of your goal. Now let’s talk about the how. What do you need to do, given your current income and debt load to get where you want to be? Again, drill the goal down into details.

Let’s say your goal is to reduce your debt load. Commit to taking a specific amount of each pay to direct towards a specific debt.

Set the timeline

Sit down with your calendar and determine a reasonable time line in which to achieve this goal. Make sure that you set an attainable bar.

Making any kind of lifestyle change takes a while to take root and to see results. By sandwiching yourself into a smaller time frame, you may unknowingly be self-sabotaging the process.

Little steps= big results