Why is a goal important?

If you’re like most people you establish your goals of paying off all your debts and place the piece of paper in your desk and proceed to forget all about it until the end of the year.

Than, at the end of the year, you either find your old goal sheet and copy it for the next year or go by memory and start over again.

Here’s the biggest problem with goals. We tend to make them for the entire year and never keep up with our progress.

Here’s a simple strategy to figure your goals, keep up with your goals, and motivate yourself to exceed your expectations (goals). The goal, of course, of getting out of debt.

First and foremost is the idea of making your goals monthly, not yearly. Most of us can project out what we’re going to make over the course of a month. For a few of you out there you might want to do this weekly.

Don't even think about yearly. Think in terms of daily. Everyday you're putting together $15 (and if you have to get the money order daily!). At the end of the week you've got $105 dollars toward your credit card bill.

I’m going to assume you’ve read some of my previous posts on strategies for paying off your credit cards early. If not, here’s a quick reminder of my advice. Take the credit card with the least amount owed. Pay minimum payments on all the rest. A previous post talked about how to find $15 dollars a day extra just based on what you’re currently spending money on. I recommend using the extra $15 dollars a day for the extra payment to your credit card.

Measure your goal daily and weekly. Let’s say your credit card balance is $1000 thousand dollars. Make four extra copies of your monthly bill. No less than once a week get a money order and mail one of those copies of your bill. If you’re using my 15 dollar a day strategy you’ll pay an extra $105 toward your credit card every week.

When you get the next month’s bill do the same thing (make atleast 4 copies of the bill). You’ll either have paid off the card in two months or two months and a week or so. There’s a lot of motivation watching your credit card balance go down weekly. It’s pretty exciting.

Use a wipe off type board and hang it over your desk to check your progress. Once you’ve eliminated your first credit card celebrate! Get a latte, or candy bar. Go ahead an blow $15 bucks. The next day start on the next bill.

Before you know it one year will have gone by and you’ll have paid off over $5000 dollars in credit card bills! The average American has between $7000 and $9000 in credit cards. Do this for less than 24 months and you’ll immediately see and feel the difference as your credit card debt is wiped out!

You’ll literally eliminate all of your credit cards in weeks not years!

Not only will your health improve, but your attitude will be fantastic and the stress level will go down. Plus, you and your spouse will feel even freer.

To your success!

David…