Getting Out of Debt is About Challenging Yourself

There are a lot of things that go into getting out of debt. You’ve got to spend less than you make, put some effort into tracking your income and expenses, and perhaps the most important thing is to change your financial behavior.

With that said, something I find to be extremely helpful is taking myself out of my comfort zone in the name of reaching my goals. This can be a hard thing to do but challenging yourself to do what you don’t want to or think you can’t do is great for finding out who you really are.

I tend to underestimate my abilities at times but when I step out of that comfort zone I find that I always do better than I thought I would.

Taking the plunge to pay off your debt is certainly a step out of your comfort zone but why stop there? Challenge yourself to change or do something that will put you closer to your end goal of debt freedom. I love the term Radical Debt Eradicator because it exudes a sense of urgency and dedication. It says “I’m NOT going to take it anymore and I’m going to do whatever it takes to rid myself of this debt!”

That’s the challenge, and the reward is the freedom you want so badly. The challenge is worth the reward!

I have this thing where I like to say YES to things I really wanted to say NO to. I’ve said yes to public speaking, yes to P90X, and most recently YES to participating in a 4 mile mud run with more than 20 obstacles. Most of you know I have an end goal of becoming healthy and fit which was why I said YES.

Right now I’m in my 4th week of doing P90X (with my wife), but this mud race is going to be a very big challenge for me. I’m a BIG DUDE!

Later that night, after saying yes before I could rip my lips off, I had a feeling of regret. To be perfectly honest I was doubting myself and I was scared. I tried convincing myself I couldn’t do it. Fear had a firm grip on me and was playing me like a fiddle! I thought of everything I could to try and weasel my way out of it but being a man of my word I knew that would never happen.

I am in! And there’s no turning back!

On April 14th when I line up on the Mud Warrior starting line, I am going to be scared. But well into the race I’m going to realize I underestimated myself…again. That realization is going to give me the push I need to reach the finish line.

Where’s your finish line and what are you willing to do to get there?

Are you willing to challenge yourself? Are you willing to do the “impossible”?

Sell a car payment! Have a yard sale! Save $1,000 in one month! Skip a vacation! Sell everything you can to become debt free! Just do it!

You can always get those material possessions again if you wish.

Sacrifice now so you can live tomorrow! A life filled with debt is no life at all compared to what it could be. Don’t underestimate yourself!

Find out what’s holding you back and challenge yourself to overcome all odds! Do the impossible! Put your feet to the fire and get out of debt NOW!

On April 14th when I am digging deep and facing my fears I will be thinking of you. How many of you will be overcoming the impossible? How many of you will challenge yourself to step out of your comfort zone in order to reach your debt free goals?

If it doesn’t seem impossible, you may not be challenging yourself enough. GO BIG and then GO BIGGER!

Leave a comment sharing your thoughts about how you could challenge yourself more to get where you want to be.


About Brad Chaffee

9 Responses to “Getting Out of Debt is About Challenging Yourself”

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  1. Petunia 100 says:

    I feel very overwhelmed when I look at the size of my debt (nearly all mortgage). I must admit, I didn’t feel that way when my home value comfortably exceeded it.

    Best of luck to you with that mud warrior thing. ๐Ÿ™‚

    • Brad Chaffee says:

      Thanks Petunia! I’ll probably update everyone here once I complete the mud run! It’s going to be challenging but fun!

      As for your debt. If you mostly have mortgage debt you are doing great! I definitely understand the overwhelming feeling you’re having. Keep doing your thing!

  2. Nothing like a mud run to gain a little motivation to push yourself harder. Hope you had fun, I’ve done a few and they are a blast (and a good life lesson, too).

    • Brad Chaffee says:

      Haven’t done it yet but I’m sure I’ll have all sorts of mixed emotions on April 14th. LOL In the end it will be good for me to have done it because I WILL cross the finish line. ๐Ÿ™‚

  3. Kathy says:

    What an amazing adventure you’re going to have! Best of luck to you!
    And, thanks for the encouragement to continue to strive towards being debt free!

    I’m pushing myself towards using 1/3 of my fun income (rubber stamping classes, etc) towards paying off my debt even faster than the plan I’m in. Just challenged myself a couple of weeks ago so haven’t made any payment as of yet.

    Trying to find the best way to apply the money. Let me ask your opinion; I’m on a debt management program & they allot $x towards each credit card each month. Should I take the $$ (the 1/3) and apply it whenever I get it or should I save & when it gets to be a certain amount (maybe $100) apply it then?

    And, then should I put it towards the lowest bill or the highest?

    • JMK says:

      1. The sooner you apply the extra the sooner you reduce your interest payments (they are calculated based on the remaining principal). Also, the sooner you get that excess money out of your account, the less risk of spending it on something else. I charge absolutely everything to our credit card to earn the flight benefits, but I also pay it off EVERY Friday without fail. Once that’s done, I review what’s left in the account and the planned spending for the next few weeks on my spreadsheet, and I skim off all the excess I won’t need and transfer it to my retirement savings or make an extra mortgage payment. I never let those excess, unallocated dollars sit idle for very long – they are much better off reducing my mortgage or earning interest in my retirement accounts. If you have credit card debt then by all means get that money moved ASAP!

      As to which card to apply those funds to, there are two schools of thought on snowballing your payments. Either pay off the lowest balance first (for those who want the immediate gratification of paying something off sooner. Or, pay off the one with the highest interest rate which makes more sense financially (but if it’s also a large balance doesn’t let you cross one off as soon). Depending on your personality and motivation pick what works for you.

    • Brad Chaffee says:

      Thank you Kathy! You are going to reach your goals and it sounds like you are right on track. Good luck with your personal challenge.

      As far as your question, I agree with JMK completely. sitting on the money and waiting for it to accumulate into a bigger pile of money is dangerous, or at least it would be for me. LOL I say pay extra as soon as you have extra. I use the same philosophy to save money because as JMK points out, if I don’t then I end up spending some if not all on something else.

      Keep up the great work!

  4. That Mud Warrior race looks pretty cool. Does it double as a gravesite if one can’t make it? ๐Ÿ™‚

    • Brad Chaffee says:

      LOL John! I asked the dude I’m printing shirts for if he provided a wheel barrel and an oxygen tank for me if I can’t move at the end. LOL

      It’s going to be fun but I’m pretty scared. Haha! Yesterday he posted a picture of a 50 foot downhill slide into what will be a 2000 square foot mud pit. Oh what fun that will be! LOL

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