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You are here: Home / Debt / Get Out of Debt / Achieve Goals and Get Out of Debt One Step at a Time- Small Victories Win the War

Achieve Goals and Get Out of Debt One Step at a Time- Small Victories Win the War

By Jason Cabler on October 31, 2017 39

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Achieve Goals and Get Out of Debt One Step at a Time- Small Victories Win the War

When you want to achieve goals related to debt freedom, it seems like a daunting task.  It’s easy to be intimidated by such a huge financial goal.  Once you realize what you’re up against, you’re ready to give up on getting out of debt before you even start!

So how do you overcome the overwhelming feeling of dread when you want to achieve your goal of getting out of debt, but you’re so intimidated you're afraid to get started?

My recommendation is that you take a deep breath, take a step back, and remember that it’s the small victories that win the war.

In this article I'll show you a quick way to start the get out of debt process by achieving small goals one at a time.  I'll also give you access to my free printable worksheets and another great resource at the end to get you started!

Contents hide
1 Achieve Your Goal With Small Victories
2 The Debt Rocket Plan
3 Getting Out of Debt is Not Rocket Science
4 It Doesn’t Just Work For Getting Out of Debt!
5 Beat Overwhelm by Taking Action to Achieve Your Goals
6 Small Beginnings Lead to Big Things

 

Achieve Your Goal With Small Victories

Applying the “small victories” concept to paying off debt means tackling small goals first.  This means paying off your smallest debts first.  There are plenty of experts that recommend paying off the debt with the highest interest rate first.  That’s OK, you can do it that way and it will still work.

But research shows that tackling debt by paying off the smallest debt first actually works better.

Why?

Because achieving your goal with small victories along the way is psychologically good for you.  They motivate you to continue on when the going gets tough.

These little incremental wins allow you to feel good about your progress.  They will motivate you to keep going in a way that other methods of paying off debt just don’t do.

How do you start achieving these small victories over debt so you can ultimately win the war and achieve your goal of debt freedom?

You make a get out of debt plan.

The Debt Rocket Plan

Get Out of Debt and Achieve Goals One Step at a Time- Small Victories Win the War 3

The best plan to get out of debt I know of is the Debt Rocket plan.  Some people call it a “Debt Snowball” or any number of other names.  I call it a “Debt Rocket” because it starts slowly, but quickly launches you into the blue sky of debt freedom!

Here’s how it works:

  • Make a list all of your debts from smallest to largest
  • Continue paying the minimum payment on each debt as usual
  • When you have extra money, put it toward your smallest debt to get it paid off faster.

This allows you to get that smallest debt paid off very quickly.  You'll achieve a small win that pumps up your motivation to continue the process.

Next:

  • Once you pay off your smallest debt, use the money you were sending toward the smallest debt, and add that to the payment for the next smallest, along with any extra you may have.
  • This allows you to get the next smallest debt paid off much quicker, because you’re sending in much more than just the minimum payment.
  • Keep doing the same thing, working your way down the list as you get each debt paid until you achieve your goal of becoming debt free!

Getting Out of Debt is Not Rocket Science

Even though I call it the “Debt Rocket”, it’s not rocket science.  It’s a very simple, but extremely powerful concept.  When you make the effort to put together a Debt Rocket plan and stick to it, each small victory builds upon itself to allow you to achieve your goal of life changing debt freedom, guaranteed!

You can find printable Debt Rocket forms with instructions here to get your plan rolling.

 

It Doesn’t Just Work For Getting Out of Debt!

The cool thing about starting small and attacking goals step by step is that it works not only for getting yourself out of debt, but for any large goal you might be working toward.

Such as:

  • Starting a New Career
  • Fixing Your Marriage
  • Quitting a Bad Habit
  • Starting a Blog
  • Starting a Business
  • Fixing Your Health
  • Or anything else that requires a large change in your life.

 

Beat Overwhelm by Taking Action to Achieve Your Goals

When I started this blog in 2011, I felt overwhelmed by it.  I saw all of the established blogs and wondered how in the world would I get to the place where I had the content, the readers, and the products that they did.

But eventually I realized that none of it would happen if I didn’t finally buy a domain name, sign up for hosting, and publish that first post. 

Since then I’ve taken a small step or two every day, and now I’m well into the journey.  Celebrating Financial Freedom has grown to great heights that I didn't believe were achievable in the beginning!

 

Small Beginnings Lead to Big Things

Whenever you have a large goal that seems too daunting, list out the first few baby steps you need to get started toward your goal.

Start doing them, one at a time. You'll feel those small wins lighting up your brain, motivating you to keep moving toward achieveing your goal.

Continue adding to your list as you progress.  Eventually you’ll reach that goal that looked so daunting in the beginning!

Remember, Apple started in Steve Job’s parents garage.

Dell Computers started in a Texas dorm room.

Richard Branson got his start breeding and selling Budgies.

One step at a time is all it takes to make your achieving your goals a dream come true!

Question:  Do you have a big goal you want to start working toward this year?  Leave a comment and let me know about it.

Recommended Reading:  “Start: Punch Fear in the Face, Escape Average, and Do Work That Matters” by Jon Acuff

Resources:

How Do You Get Out of Debt? (Part 4)- The Debt Rocket

Debt Rocket Forms With Instructions

How to Start a Blog- Why You Should Do It

Firewalk Your Dreams

How to Start a Blog- All the Steps You Need to Start Your Own WordPress Blog

How to Get Your Spouse on Board Financially

Reader Interactions

Comments

  1. Diana Srdich says

    February 6, 2018 at 11:52 am

    For those posing the question of tithing while trying to get out of debt I will tell you my experience is that you can’t get out of debt without tithing. I have found that when I’m tithing God seems to get on board with me and things go smoothly and usually much quicker than expected but when I’m remiss in my tithing the washer breaks down the car has trouble and there just doesn’t seem to be enough money for the everyday much less getting out of debt. I hunkered down and paid off my student loans in 9 months instead of the scheduled 12 years and I know without a doubt that God had HIS hand on me and I believe my faithfulness to tithing was the key.

    Reply
    • Foreverman says

      February 6, 2018 at 12:16 pm

      I’m encouraged to hear you say that I am finding out the same thing to be true.

      Reply
  2. Foreverman says

    February 6, 2018 at 11:45 am

    I came here looking for the answer to the question that was advertised ” should I tithe while in debt” . can’t seem to find it

    Reply
    • Royce Hart says

      February 6, 2018 at 11:57 am

      It’s called “click bait”, I had hoped that this publication wouldn’t do that.

      Reply
      • Foreverman says

        February 6, 2018 at 12:16 pm

        Thank you for that. very encouraging

        Reply
      • Dr. Jason Cabler says

        February 6, 2018 at 12:44 pm

        Royce, I understand where you’re coming from. No click bait, just a mixup in the email that Medi-Share sent out. Here’s the correct link to the post: http://www.cfinancialfreedom.com/should-tithe-getting-out-of-debt

        Sorry for the inconvenience.

        Reply
    • Dr. Jason Cabler says

      February 6, 2018 at 12:34 pm

      You probably came here from the Medi-Share email. I think may have put the wrong link in the email. Here’s the correct link: http://www.cfinancialfreedom.com/should-tithe-getting-out-of-debt

      Reply
  3. Laurie says

    January 15, 2014 at 7:07 am

    I totally agree about those small victories. We started with a huge load of debt, and the task seemed SO daunting, almost unachievable. A year later, though, we are winning, simply because we have chosen to focus on getting through the day/week/month – the small goals – instead of focusing on how much debt we’ve got left to pay off.

    Reply
    • Dr. Cabler says

      January 15, 2014 at 7:38 am

      I love it! Those little wins add up don’t they?

      Reply
  4. The Phroogal Jason says

    January 11, 2014 at 10:19 am

    Debt snowball or how you term it as the Debt Rocket truly does work. It works with debt and everything else. When I started building Phroogal I wondered myself how I’d get to where I wanted but it just took one step that launched me to where I am in 8 months.

    Reply
  5. Paul Jolicoeur says

    January 9, 2014 at 6:16 am

    This is exactly what we did we when my wife and I getting out of debt during our first year of marriage! It worked for sure.

    Reply
    • Dr. Cabler says

      January 9, 2014 at 7:52 am

      That’s awesome! This stuff really works when you just make the effort to do it and stick with it. Feels good to be debt free, huh?

      Reply

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