The cycle of life is full of smaller cycles.

Some people call it a roller-coaster, for me, life is a journey of learning that only leads to personal development and growth. One of such cycles is debt. To me, it went more or less like this: I got a job, money started to flow, with it, the credit card offers arrived, with them, more “stuff”. With the stuff, excitement for the moment, that led us to buy more stuff. Then, the “credit hangover”. The feeling of overspending. Guilt. Worry.

We learned that we needed discipline. So we stopped using the credit cards altogether. If it wasn’t truly necessary, we didn’t buy it. A small problem, though. We were making just a little over the minimum payments. Big mistake. So we started to pay more when we were able to.

God has been generous with us and so today we paid off two of the credit cards. It feels awesome.

It feels so great that tomorrow I’m going to buy some stuff to celebrate.

Just kidding.

So, the cycle came to an end. We still carry debt. But we’re going much more responsible about it. So, here my 5 tips to eliminate debt faster:

-Don’t buy with credit anything that goes down in value. Most stuff is worth a third less the moment you take it out of the package, you don’t want to be paying for it for months.

-Identify where all your money’s going. Are you overspending? Could you skip some indulgence in favor of paying debt?

-Pay more often.

-Take your credit cards out of your wallet (make sure you hide them well). That way, you’ll eliminate the temptation of taking them out next time you’re in a store.

-Focus on paying of  the smaller debt first. This way, known as the “snow ball method”, gives you a strong emotional boost and a sense of power that comes with completing challenges. Once you see that you can pay off a debt, you’ll try harder to pay off others.

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