How To Get Into The Right Mindset To Get Out Of Student Loan Debt

I wrote and published this post on December 16, 2014 and have since eliminated all of my debt. I finished paying my debts off in May 2016 so obviously I knew a little somethin’ somethin’.

ALSO WATCH: 10 Habits That Helped Me Become Debt Free!

Like a million other college graduates I am in debt. Serious, “It seems like I’ll never crawl out,” debt and it’s scary. However, I’m on the road to paying that debt off. I’ve decided not to view debt repayment as unattainable but as something I’ll be able to do in 3.5 years.

Everyone wants to know how we will pay off such a huge amount of debt, about 40K to be exact, and the answer is simple. The majority of my money will go towards that debt. One thing that people who read this should take into consideration is that I work full time and so does my husband. We have two incomes in our household which makes this a whole lot easier.

In the end it’s better to have a crappy life now than have debt hanging over our head for the rest of our lives. Plus, I don’t want to have this debt when buy a house.

Here are the ways I got my mind right to be able to see this as an attainable goal.

Don’t Doubt You Can Do It

I think this goes without saying but you seriously should not doubt that this is possible. If you start telling yourself that you can’t get rid of your debt it will manifest. Right now make a pact with yourself that this will happen and you will do it. Don’t leave room for failure because that’s when things start to go wrong.

Make A Plan

My husband and I sat down and made a plan for how we will pay off our debt. Month by month. I understand that things will change. Our income will fluctuate or we might get sick or we could win the lottery (wishful thinking…) but having a plan makes it easier for me to see this goal in short segments instead of a goal that’s so long from being completed that it doesn’t seem real. That brings me to my third point that you should…

Think Long-term

This is especially hard for me because I am a short-term goal type of person. While I do think long term about this goal I like to celebrate every month they we make successful payments. That way I have short term goals to keep me satisfied on the journey and a long term goal that keeps me from spending like crazy. For instance, I know I’ll have my debt payed off in 3.5 years but I also know that by Nov 1st I’ll have payed $2,000 more towards that. So, my goal is to watch the number shrink month by month. Every time I start to think that I want to spend my money on things besides my debt I bring myself back to reality by thinking of how awesome it will be in 3.5 years when I don’t have this debt hanging over my head.

Don’t Think Of Your Pay Check As Money You Have To Spend

The majority of my paycheck goes towards paying down debt. I don’t even think of that money as money that is mine. That belongs to the creditors. I immediately make payments when I get my check so that I don’t have to look at the money. It was never there. Poof! It’s gone. This is the easiest way to handle that in my opinion.

Don’t Think Of Credit Cards As Money You Can Spend

I no longer touch my credit cards. I’m horrible with them. I still have them in case of an emergency and to help with my credit score but I don’t touch them. I’ll hopefully get to the point where I use them like my debit card and pay them in full by the due date but I am not that strong yet.

Those are a few ways you can get into the right mindset to pay off your debt. I’m not going to get into the best way to pay off debt in this post because that would be entirely too long but I will say that should factor into the whole “Make A Plan,” part of the equation.

What are the ways you get into the mindset to tackle tough goals?