Have you ever felt trapped in an escape room? It is not an experience that you would want to relive on a daily basis. Being stuck in such a situation is nothing short of stressful, confusing and time-pressuring.
Similarly, debts can feel like escape rooms. The good news is that, as in most cases, there is a way out. A restart button you can tap. A new map you can follow. How do you do it? Simple: by fueling up the fire to overcome your financial challenge.
Visualize your “debt-free” life
When you wake up to a debt-free morning, what is the first thing you would do? Will you call your family and friends to announce your freedom from the shackles of debt? Will you pick up your phone and book an out-of-Singapore trip to treat yourself? Or maybe, you will simply make yourself a cup of coffee and start planning where the money used to go to debt can now go to better things?`
Having a debt-free life can open doors to many opportunities, so visualizing yourself in that position can be a powerful motivator. Do not hesitate to tap into it.
Break down the mountain into molehills
Ever tried climbing Mount Faber? Yep, the whole experience is on another level of daunting. But after a while, you would realize that the climb is much easier if you take it one step at a time. The same goes for debt.
Break down your debt into smaller, manageable chunks. Instead of focusing on the overwhelming total, set smaller, achievable goals. Paid off one credit card or one loan from a license money lender? Celebrate that victory! Each small win will fuel your motivation to tackle the next.
Find a “debt-busting” buddy
Remember those “kampung” days when everyone helped each other out? Tackling debt is easier with a support system. Find a trusted friend or family member who can be your accountability partner. Share your goals, track your progress together, and celebrate your wins. Knowing someone is cheering you on can make all the difference. And hey, who knows, maybe you can even inspire each other to try some money-saving recipes from your favourite hawker stalls!
Turn saving money into a game
Channel that competitive spirit into saving money! There are tons of fun apps and challenges out there that can help you gamify your savings journey. Treat it like a personal quest, with each dollar saved bringing you closer to your financial freedom.
Remember your “why”
This is probably the most important point. Why are you working so hard to get out of debt? Is it to secure a comfortable future for your family? To finally buy your dream HDB flat? Or simply to have peace of mind? Display your financial goals where you’ll see them daily – whether it’s on household surfaces or your phone screen. Whenever you feel discouraged, remind yourself of the reason you started this journey in the first place.
Conclusion
Remember, escaping the debt trap is a marathon, not a sprint. It requires patience, discipline, and a healthy dose of motivation. But trust me, the feeling of freedom and accomplishment when you reach the finish line is priceless. So go ahead, lace up those shoes, and start running towards a brighter, debt-free future!
