Paying off debt is exhilarating but can also be incredibly daunting. From excitement to frustration, the emotional rollercoaster is real. At the beginning of your journey, you might be filled with optimism, but staying motivated while paying off debt can be a challenge.

We took years to achieve our debt-free goal, and it wasn’t always easy. There were days when it felt like progress was non-existent, and the road ahead seemed never-ending. In this blog, I’m sharing the tips and strategies that kept us going through thick and thin. Hopefully, these ideas will help you stay on track as you work towards financial freedom.

1. Set Clear Financial Goals and Remind Yourself of Them Daily

One of the best ways to stay motivated is by setting clear financial goals. Write them down in a way that speaks to you—whether it’s a single word, a short sentence, or a more elaborate 3-point plan. Make it personal and meaningful. Your goals should act as a beacon, guiding you forward when times get tough.

Display your goals where you can see them every day: on your bathroom mirror, the fridge door, or even your computer screen. Every time you see them, remind yourself how amazing it will feel to accomplish them.

Examples of motivational goals:

“I want to be debt-free to give my family a fresh start.”

“I’m paying off my debt so we can buy our dream home.”

“I will stick to my budget because I am capable of financial freedom.”

“I want to show my kids that it’s possible to tackle life’s challenges head-on.”

Reading these aloud daily gives you an extra push, ensuring you keep your eyes on the prize.

2. Educate Yourself and Leverage the Power of Psychology

Debt isn’t just about the numbers. It’s deeply tied to our emotions and mindset. One thing that helped me immensely was immersing myself in education about personal finance. I consumed books, podcasts, and blogs that taught me not just about debt reduction but also about how to maintain the right mindset for financial success.

Some of my favourites include:

• The Meaningful Money Handbook by Pete Matthews
• The Total Money Makeover by Dave Ramsey
• I Will Teach You to Be Rich by Ramit Sethi
• The Ramsey Show podcast (featuring the Debt-Free Scream!)
• Meaningful Money Personal Finance Podcast
• Money for Couples podcast

By learning from experts and hearing real-life stories of people who have become debt-free, you’ll gain valuable insights and motivation. Education gives you the tools to avoid common mistakes and makes you realise that your debt-free goal is within reach.

3. Join a Supportive Community

Debt repayment can be isolating. While you’re working hard to get your finances in order, others might be out there splurging on holidays or dining out. It’s easy to feel alone, but the truth is, there are millions of people on a similar journey.

Finding a community can be a game-changer. Whether it’s a Facebook group like my own 2025 No Spend Challenge, or following debt payoff accounts on Instagram, connecting with others who are in the same boat as you offers invaluable encouragement and accountability.

When you have people cheering you on and sharing your victories, even the small ones, it helps you stay focused. You don’t have to go through this journey alone—there’s a whole community out there waiting to support you.

4. Be Patient and Celebrate Small Wins

Debt repayment is not a sprint; it’s a marathon. There will be days when you feel like you’re not making any progress, and it’s easy to lose hope. During these times, patience is key. Remind yourself that every small step forward is a step in the right direction.

Celebrate your small victories along the way, whether that’s sticking to your budget for a week or making an extra payment towards your debt. These moments add up and will fuel your motivation to keep going.

I often recommend tracking these wins. A visual representation of your progress, such as colouring in a debt thermometer, can keep you motivated. Celebrate each milestone—whether it’s reducing a household bill or having a ‘no-spend day.’

Read more: Celebrate the small wins

5. Plan Little Rewards Along the Way

While staying disciplined is crucial, it’s equally important to reward yourself for your hard work. Plan small, cost-effective rewards to look forward to, such as:

• A relaxing afternoon at your local park
• A coffee date with a friend
• Reading a good book (my personal favourite)

These rewards don’t have to be extravagant or expensive. The goal is to give yourself something enjoyable to look forward to, keeping your motivation high without derailing your financial progress.

6. Track Your Progress Meticulously

If you aren’t already tracking your spending and debt repayments, now is the time to start. I’m a self-professed money nerd, and I loved sitting down with my husband each month to go over the numbers. Watching the debt shrink and the savings grow is a fantastic feeling.

Of course, there will be months when the numbers don’t move in the direction you hoped. But that’s okay. Remind yourself that setbacks are part of the process. Take a deep breath, adjust your plan if needed, and keep going.

If you need help with tracking, download my free Intentional Spending Plan to get started.

7. Get a Budget Mentor or Accountability Partner

When you know someone is checking in on your progress, it’s much harder to slack off. An accountability partner can be a friend, family member, or even a financial coach like myself. Having someone to talk to, offer perspective, and celebrate your wins with can make all the difference in keeping you motivated.

Sharing your goals and tracking your progress with someone else can bring a new level of clarity and commitment to your debt-free journey.

Read more: What is a Finance Coach?

8. Keep Your ‘Why’ Front and Centre

What’s your ‘why’? Why do you want to pay off your debt? For us, it was about financial freedom and the opportunities it would bring. We created A4-sized posters with the word “WHY” in bold letters and surrounded it with pictures of the things we wanted to do once we were debt-free.

These posters were a daily reminder of the future we were working towards, and they even sparked conversations when friends and family visited. Knowing your ‘why’ will help you push through the tough times, and seeing it visually will remind you of the bigger picture.

9. Make Your Debt Tracking Visible to Everyone

Tracking your debt where you and others can see it can be a motivational tool. We had debt thermometers on the wall, and every time we made a payment, we would colour in a balloon or cross out a square. If you love a to-do list, you’ll find this strategy particularly satisfying.

Seeing those numbers go down and having a tangible way to mark your progress is one of the best motivators out there.

10. Set Up Automatic Payments and Remove Temptation

Let’s face it: there will be days when you just don’t feel like making extra payments towards your debt. You’ll see friends going out or planning exciting trips, and the temptation to splurge can be strong. That’s why it’s important to automate your debt payments.

Set up automatic transfers for more than just the minimum payment—automating helps remove the temptation to skip a payment and ensures that you stay consistent with your financial plan.

11. It’s Never Too Late to Start

My husband and I started our debt-free journey in our 40s, and I often think, “If only we had done this 20 years ago!” But rather than dwell on the past, we focused on making the most of our present situation. Remember, it’s never too late to start. Whether you’re 20, 40, or 60, today is a new day, and it’s the perfect time to begin your journey to financial freedom.

Yes, the road to becoming debt-free can be difficult, but it’s absolutely possible. Keep reminding yourself of what you could do with the money you’re currently paying towards debt—like taking that holiday, enjoying a night out, or treating yourself to something special. Stay motivated and keep going!

12. Get Inspired by Others’ Success Stories

Hearing about other people’s success stories can help you to stay motivated. I love listening to the Debt-Free Scream on The Dave Ramsey Show podcast because it reminds me that if they can do it, so can I.

Take Christa’s story, for example. She was in a difficult financial situation after separating from her first husband, but by educating herself about money, she managed to open an RESP (education savings) account for her kids and save up enough to give each of them $4,000 for university. It’s proof that small actions, taken consistently, can lead to big results.

In moments of doubt, remember why you started this journey. Stay focused on the future you’re building, and never underestimate the power of persistence. Your financial freedom is worth the effort, and your future self will thank you for sticking with it.