The One Thing Getting Out of Debt Didn�t Prepare Me For

When I found myself divorced, over $14,000 in debt and so broke I couldn’t afford a decent apartment — all at the age of 25 — I decided it was time to get my financial act together. So the first step was to create a plan to become debt-free.

I created financial goals, along with a vision board and other motivations to help me get on the path towards financial freedom. Getting into debt was easy, but getting out of debt would be much more difficult.

It would take sacrifices, like cutting out cable TV, working an extra job and cutting back my social life, all in an effort to put any extra savings and earnings towards consumer debt. I had to change my mindset about money, and to stop using credit cards as an extension of my income.

I had a plan and knew how to execute it. I thought I had everything worked out, and I was prepared to make the necessary changes. But there was one thing I wasn’t prepared for — one thing that getting out of debt didn’t teach me.

Creating a Debt Plan is Only the Beginning

What I wasn’t prepared for was life after debt. There seems to be a TON of resources online, financial blogs, opinions and other tools you can use to get out of debt.

But what happens when you become debt-free? What the next step after reaching your goal?

These are questions I faced right after sending off my last debt payment. I was free and it felt amazing! But then the credit card offers started coming in — the really good ones where you don’t even have to pay interest for a year.

You start getting calls from friends who want to celebrate your financial freedom by taking a vacation. Your family asks for financial help because “you can afford it” now. Basically, when you finally get out of debt, you get bombarded with financial (and mental) obstacles.

The first thing that being debt-free taught me, was that creating a plan to get out of debt was only the beginning, it’s not the end goal. With all the debt products and easily accessible loans at your fingertips, getting back into debt is more than easy to do.

The Biggest Downside to Being Debt-Free

Amongst the excitement and freedom of not having to send payments to the bank, it’s all but expected for you to fail. I mean, living without debt is completely abnormal right? You can afford so much more now that you’re debt-free! At least that’s what the banks, investing gurus and family members are yelling at you.

You’ll have people rooting you on when you’re paying down debt, but then the tables turn when you’re debt-free because people are jealous, or the banks want your business back (and will likely do anything to get it).

The biggest downside to getting out of debt is the massive amount of pressure and temptation you have to deal with everyday.

If you think it’s hard to resist the temptation to shop, eat out or buy a cup of coffee when you’re paying off debt, just wait till you don’t have anymore bills and can theoretically buy anything you want.

In my whole life as an accountant and tax professional, being debt-free is like nothing I’ve ever experienced before.

How to Prepare Yourself for Life After Debt

If you’re trying to get your finances in order and become debt-free, you don’t want to get blindsided by life after debt like I did. Anytime you’re dealing with money, there will always be the temptation to spend, and when you’re dealing with debt products (like loans and credit cards) there will always be the temptation to spend more than you can afford.

Here’s how to prepare yourself for a life after debt:

Surround yourself with an encouraging community. Although I have a few family members and friends that don’t understand my stance on living debt-free, I’ve connected with lots of other people who believe the same thing. Thanks to the internet, I’ve created a close-knit community of other go-getters who’ve paid off debt and are living the life they want.

Focus on the positive. Not everyone will understand — or support — your decision to get and stay out of debt, so it’s vital you prepare yourself for any discouraging words. Remind yourself of why you want to be debt-free and that you’re creating a financial legacy for your future. Block out any negative or unsupportive remarks.

Determine if it’s worth it (or not). Is reaching your financial goals, and creating a life that makes you happy worth the temptation or backlash? If it is, then set your mindset on the fact that what you’re doing is worth the sacrifice. If it’s not, you may need to determine why, or if you’re ready.

A life after debt doesn’t have to be scary and you can successfully make that leap. All you need to do is prepare your mindset and stand firm in your decision to go against the grain!

Are you paying down debt? Have you recently paid off a large amount of debt? Share your story with GoGirl! Email us at [email protected].