One of the best things you can do for your finances is to pay down your debt. Not only does debt cause stress in your life, since your money is no longer your own, but it also reduces your ability to build wealth effectively. You can’t use your financial resources for your own good (and the good of others) when you’re paying interest straight into someone else’s pocket.
Because we at MoneyNing feel so strongly about the importance of paying off debt, we are one of the sponsors of The Debt Movement.
What is The Debt Movement?
The Debt Movement is a lifestyle movement started by Jeff Rose, a good friend and the owner of Good Financial Cents. He partnered with the debt reduction site ReadyForZero to encourage consumers to pay off $10 million of debt in 90 days.
The idea is to create an involved community of consumers who are ready to pay down their debt and kickstart their finances in 2013. If that sounds like you, you can sign up for ReadyForZero for free and get a personalized debt-reduction plan. In addition to this plan for paying off your debt, ReadyForZero will also allow you to track your progress on the site.
The Debt Movement features educational resources that can help you learn more about money and effective debt-reduction strategies. You can connect with others in the forum to find encouragement and motivation, as well as tricks and tips. If we work together as a community, we’re confident we can pay down $10 million in debt over the course of 90 days.
How Can I Join The Debt Movement?
It’s easy to become involved in The Debt Movement. You can sign up quickly and easily by joining the mailing list and receiving tips — right in your email inbox — about increasing your income and accelerating your debt payments. (Click here for more details on how to participate.) You can also add your debts to ReadyForZero to make it easier to track your progress. ReadyForZero not only provides a simple way to manage your debt repayment plan, but is also an educational resource in its own right.
If you don’t want to use ReadyForZero, but still want to be part of the excitement, you can update us about your debt reduction efforts with emails to email@example.com. Even though The Debt Movement launched on January 2, 2013, you can still join until the end of January. By signing up, you’ll kickstart your efforts to become debt-free, and you’ll succeed sooner than you thought possible.
Those of us who aren’t actively paying down debt are getting involved, too. One of the coolest features of The Debt Movement is the debt scholarships that are being offered. In order to help you pay down your debt faster, sponsors are putting up money in the form of debt scholarships. Participants can apply for these, and then use the money to turbo-charge their efforts.
MoneyNing believes so much in the goals behind The Debt Movement that we are putting up money for debt scholarships. We are proud to be involved in such a meaningful lifestyle movement and are delighted to be a Silver Sponsor. We encourage you to get involved. (Or, at the very least, use social media to spread the word.)
Let’s pay off $10 million in debt together!
Are you joining The Debt Movement? Tell us about your experiences below!
Is your student loan putting a burden on your finances? Did you know chances are good that you are paying too much? Check out Credible and take a look at the current student loan rates. You can probably refinance through them here and get a better rate, lowering your money payment and improving your cash flow. It's quick and easy to give it a shot. You may be surprised by the results. Click here to get started.