Get Your Finances on the Right Track with the #DebtMovement

by Miranda Marquit · 5 comments

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 debtfree@debtmovement.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!

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{ 5 comments… read them below or add one }

Marbella January 8, 2013 at 3:46 am

Not going into debt is better, so don’t buy on credit or installment; try to minimize the risk of having to take out a loan when buying a new car or a long trip. Try to pay off as much as possible and continue on your mortgage. A debt-free person is a happy person.

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AWaB June 12, 2013 at 4:37 pm

[q]A debt-free person is a happy person[/q]
Couldn’t have said it better myself!

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Lee January 10, 2013 at 7:53 am

Wow! Not familiar w/ this program, but it sounds great. It took my wife & me about 10 yrs of steady payments & careful discipline to pay off our debts. But the reward is a wonderful feeling -a weight lifted off your shoulders & heart – financial freedom!
http://www.DaveRamsey.com also has some helpful steps.

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James Salmons January 10, 2013 at 8:34 am

Terrific emphasis and I heartily encourage everyone to get on board one way or another to get out of debt, including paying off the mortgage. No matter what anyone says, there is no such thing as good debt in the long run even though sometimes it may seem necessary temporarily.

I have been debt free for quite a few years now and I can tell you that the peace of mind that comes from knowing that aside from real estate taxes, basic insurance, food, and utilities everything else can be quickly adjusted is terrific.

There is no doubt that we will face some turbulent times in the not too distant future, at least in America, since our politicians seem incapable of dealing realistically with their responsibilities in this area. I don’t know any better way to prepare for any eventuality than to get out and stay out of debt.

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Kate January 10, 2013 at 3:13 pm

I am prepareing for retirement and paying down my debt is a major part of that planning. I am doing it the way my Dad daught me: pay $100 plus the minimum owed on all credit cards, and when the smallest card is paid off, cut it up and then apply that money next month to paying down the next one, and so forth, until they are all done. I will not need more than one credit card once I am retired and hope to have the rest of them paid off this year.

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