Paying off debt is no easy task. It takes determination and a strong will to keep pushing through a wall that seems to block your path to financial freedom. Whether you have a high debt amount or a lower one, it takes a shift in your mindset to be able to think your way to a debt-free life.
According to the credit bureau Experian, Millennials owe approximately $371,864 in debt, while Gen Z owes an average of $288,879. If you think about the average income for an American, let alone a Teacher like me, it is almost impossible to pay off such large amounts of debt racked up from student loans, car loans, mortgages, and credit cards. No matter if it was a self-inflicted wound or not, credit card debt can take years to climb out of even if you are paying more than the minimum amount.
People who become debt-free are those who think about necessities first and pleasures later.
Here are some perspectives that you must take on in order to think your way to a debt-free life in 2026:
Debt is not scary or stronger than you
You have to come to the acknowledgement that one day you will have to face your debt, no matter how large the amount is. Whether you ignore him or not, he is there and the time for you to get rid of him is today.
There is a Scripture that says,
“For as he thinks in his heart, so is he.”
Proverbs 23:7
Think about being more than a conqueror. Think about walking up to your debt face to face and overcoming him step by step. Remind yourself every morning that even the little steps that you take today, will help you to one day completely wipe out your debt and live a debt-free life.
There is nothing more stronger than a person with a determination to push through every obstacle before him. You are that person.
God will help you
As you take a look at the numbers on the paper sitting before you, remember that God is with you. God is very interested in the lives of His people, His children. There is no thing too miniscule for God that He cannot help you with.
Take ahold of the thoughts that say its too much for me, I can’t do this on my own, our income is not high enough. There is no mountain that God can’t move.
I have personally seen God stretching my money far beyond what I thought it could stretch. When I became debt-free the first time, it was God who specifically told me how much to put towards my debt every month out of my paychecks and before I knew it, I made the last payment on my credit card to become DEBT-FREE. Being debt-free is a freedom that no one can describe to you. You are on your way there, all you need is just a little reminder that the big God upstairs is with you.
A little goes a long way
I remember thinking, there’s no way I’m going to be able to pay off my large amounts of debt with this little amount I’m putting towards it.
This is part of a scarcity mindset. I saw my debt as bigger than my efforts and that simply was just not true. I had to change my thoughts to see that the money I was paying towards my debt was cutting it down, even if just by a little bit.
A tree might not come down overnight but after so many strikes, it will hit the ground!
There are a few different methods that you can take to make your little go a long way:
- The snowball method. This is the one that I personally chose. You put all your efforts towards paying off your smallest debt amount first and then attack the next one. This one helped me to mentally feel more accomplished because once I knocked out the first card, the rest were inevitable.
- The avalanche method. This method focuses primarily on the interest rate. You pay down the credit card with the highest interest rate first and then attack the next highest interest rate. This one should enable you to pay a less amount over time since your higher interest rates are gone.
Whichever your method, remind yourself that a little goes a long way when aiming to live a debt-free life.
Also, budget planners are a necessary tool when paying down debt. They help you stay on track with your spending and bills so that you can get a good grasp on where your money is going and how much of it is going out.
Here are some really good ones:
