Starting a debt free journey isn’t something that should be taken lightly. You are essentially restructuring your normal way of life; therefore it was important that we prepared ourselves mentally for the changes we needed to make.

Here are the 4 things we did to prepare:

  1. KNOWING OUR WHY

Think about this first, ‘Why am I even doing this?” Our why actually led us to start a DFJ. We were expecting baby #4 and felt unprepared and financially unstable. Your WHY creates an anchor / support beam when you get tired of sacrificing or delaying gratification to pay down debt quickly. Your plans will go wrong, people will judge or make fun of your change in habits but this WHY blocks it all out and keeps your eyes on the prize. This is your immunity shot from all the negativity that will come along the way.


2. STARTER EMERGENCY FUND (SEF)

A SEF should never be overlooked because SOMETHING will come up or go wrong. Not having an emergency fund can tempt you to crawl back to comfort – debt. This fund should be used for unexpected life events and surprises such as car / home repairs and unplanned medical expenses. An emergency fund should be set aside BEFORE starting a debt-free journey, even if you have to make minimum payments toward debt and use the extra money to build your fund first. 

3.ACCOUNTABILITY PARTNER

An accountability partner is the man in white on your shoulder who says ” you bought lunch 3 days in a row, don’t you dare buy lunch again today 😡!” This person either shares the same goals or genuinely wants to see you succeed. Many times we’ve had to tell each other “NO, you are going overboard”. Accountability has saved us a lot of money on fast food alone 🤦🏿‍♂️🤦🏾‍♀️.

4. DEBT FREEDOM GIFT

This gift should be something that you really want but refuse to get until you have reached the goal – debt freedom. Our debt free gift is a family trip. We have never travelled as a family and if it is God’s will, we will be taking a big trip in the later half of 2020.

We believe that these 4 simple things will make your DFJ a fun but more importantly, a successful process.

Have you checked them off? 

4 Things we did before starting our Debt Free Journey

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