Why You Should Try to Get Out of Debt Even if You Don’t Think You Can Maintain it.
Sometimes I hear people saying they want to get into the best shape of their life and I think “what’s the point?” I mean, yeah, once you get there then it’s easier to maintain it, but still. If normal life allowed you to maintain that level of fitness then wouldn’t you be there already? Why work your booty off (literally) if you are just going to slide right back into your fat butt ways again?
I really mean that. I honestly do not see the point. I see the point in making small changes that allow slow maintainable growth. That I totally get! I do not understand the big push to be the best you’ve ever been and then checking that activity off the list as completed.
This has been bothering me the last few days. I’ve been asking myself, “Should I be working to get into the best shape I’ve ever been in?” “Do the people who push for that think that once they get there they will be that way forever?” “Will they?”
So, as I do with everything, I try to mix in the financial aspect of this problem. I switch it over to finances because finances make sense to me. I think about someone who is deep in debt and doesn’t see the point of trying to get out. What would I say to them? Why wouldn’t they want to get out? Maybe they don’t see the point of getting out of debt, just like I don’t see the point of working out like a maniac. Maybe they think that they can’t stay away from debt the way I can’t stay away from ice cream.
So I thought back to the times I have dieted. Did I find value in the diet even if I didn’t maintain the weight loss? Yes, I did. Every time I’ve dieted I’ve improved my long term habits by a little bit. First I switched over to diet soda. Then I vowed never to eat mayo again. Then I switched from diet soda to iced tea. Then I learned a post-dinner walk is a great way to get my thoughts together. Then I found my love of protein shakes in the morning. Then I dropped caffeine all together and drink only water. (If you had told me 10 years ago that I would drink only water I would have laughed in your face.) Then I discovered I really do like veggies with dinner every night.
The exercise of dieting brought about habits that will improve my life over the long run. It’s like practice. Even if I didn’t keep the weight off it forced me to try things I wouldn’t have tried otherwise. Some of those things I really liked. And over time my health is improved without me having to push it. I’ve developed habits that help me live a healthier life. And hopefully someday I won’t have to diet anymore, I will have developed the skills I need to just live my life in a healthy way without trying.
So what about debt then? I think paying off your debt is a valuable exercise even if you don’t think you can maintain the debt-loss. You will practice skills you need to improve your financial life just like dieting did for my weight. It will bring your debt into focus and you will see it in a way that you’ve never seen it before. Yes, you may one day decide to take on debt, even if it’s by accident or circumstance, but overall your financial health will be better. You will know the true impact that debt has on your life. You will know what it takes to drop the debt which will probably motivate you to nip it in the bud a little sooner.
The exercise of paying down the debt will give you insight into how you value the things you spend your money one. Just like dieting lets me see which foods bring me the most satisfaction. (The second piece of cake isn’t nearly as good as the first.) So even if you do find yourself back in debt you will have the skills you need to fight your way out again. Do it enough times and eventually you will have the skills and resources to be able to live debt free forever!
Ashley
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Comments
Great analogy. I think it’s all about establishing patterns that are sustainable. I often equate spending with eating, and saving with exercize, there needs to be a balance or else results will not be satisfactory and lead to unhappiness. I can easily relate to this.
I have never been in debt, but I have always struggled with weight loss. At this point, I don’t see a difference 
Personally for me, I know that I won’t sustain working until I fall down for a week. But knowing me, I love getting some progress, progress encourages me to make more progress. And I like those quick wins to develop a healthy sustainable diet/exercise regime that I will stick with for a long time.
The nice thing about money is that unlike weight, once you get your debt down it’s easier to keep it down (because you’re not paying interest and you might be getting interest instead)… with weight your body tries to make you eat more when you get skinny.
Great analogy, Ashley – incremental improvement is a good thing. I’ve been trying to get into that “optimal shape” for a long time. Each time I try, I get a little bit closer before I eventually regress and go the wrong way for awhile.
I’m now within a few pounds of my goal weight, and very close to what I would consider the best shape of my life. I’m really hoping it sticks…but if it doesn’t, I’ll keep trying. I’m much healthier than I was 10 years ago, even when I ‘regress’ for awhile.
From a financial standpoint, my wife and I are on a debt management plan, so we HAVE to make that payment, and are on a straight line to paying off our debt.
However, we are making incremental improvements with respect to how we manage our money. We’re getting better at communicating, tweaking our budgeting process, and making better decisions. Sometimes we regress and find ourselves having to **really** tighten things up for a week or two because we over spent at the beginning of the month, but then we turn it around and get better again.
Even our “bad” weeks are now better than where we started.
Two steps forward and one step back is still progress.