Baby Steps to Debt Reduction

When babies are learning to walk they take a bunch of small steps and they fall down a lot without hurting themselves. They don’t just jump up and go for a jog. The analogy is great because too often when we start a new project or learn a new skill we try to dive in. Very often the results are very disappointing. There is something to be learned from baby steps.

By taking small steps we effectively break the project or goal down to small steps that are achievable. Babies take smaller steps because they don’t know how to walk and their muscles aren’t able to support them for very long. When it comes to a lot of financial matters we need to take a lot more baby steps rather than trying run metaphorical marathon.

A perfect example of this can be seen with debt reduction. I am like a lot of people out there and I’ve got my fair share of debt. Like all of these people in debt I want to reduce my debt. There are a lot of ways to reduce your debt but if you’ve been spending your money faster than you can make it for years it might be more difficult than you first think. By trying to remove all spending and drop all of your money to pay down debt can be a real shock to your system. I have tried this approach and it requires a lot of effort and I have failed many times.

Rather than doing everything at once you can start by taking baby steps. Starting with something like tracking all of your spending to figure out where you are spending too much of your money. This can help you when it comes time to cutting back and increasing your debt repayment. There are many different approaches out there from debt snowballs to tactics for which debt to repay first. Starting small gives you the opportunity to learn and try what will work for you.

I am still in debt but I am now making some headway, there have been a great many mistakes along the way and a few gun ho approaches where I tried to reduce my spending and pay down my debts at the same time. It failed and over time I’ve learned to take small steps and because of the baby steps I understand how I got into debt and what the solutions are. The baby steps have helped me learn.

One thought on “Baby Steps to Debt Reduction”

  1. You’re so right. It’s much easier to take it in baby steps just so you can keep on going.

    Then again, it’s great to take a big leap every now and again and challenge yourself further. That way you’ll know how far you can push yourself yet still swim.

    Good luck!

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