4 Ways to Knock Out Debt

I wasn’t built be a professional wrestler.  Not like my high school buddy Anthony — aka “Santino Marella” — who become the WWE Intercontinental Champion.  

He’s like a brick wall and I’m just a skinny guy with a big beard.  He bodyslams 300-pound men and I couldn’t hurt a fly.  But we have one thing in common:  We both know how to knock out our opponents.  

His is Hulk Hogan. Mine is debt — and debt is scarier than the Hulkster ;).

So here are four strategies that will help you knock out your debt.

Strategy #1:  Erase Negative Thinking and Get into the Ring

Just like a professional fighter, beating debt requires the right mindset. If you think negatively and say stuff like “I can’t do this. I’ll never get my Visa to a zero balance.” — you’re right, you’ll probably never pay off your debt.

But if you train your mind to think like a coach, and focus on the positive and what you can do, then you’ll have the guts to get into the ring.

Don’t be overcome by the massive size of your opponent. Debt is only as scary as you make it.  Find your strengths, know your power, and give debt that one-two knockout.

Strategy #2:  Make It a Tag-Team Match

You don’t have to fight debt alone. In fact, you shouldn’t get in the ring without having your spouse as a tag-team partner.

You need to take-down debt as a team. When you’re feeling tired and down for the count, they’ll be there to get you on your feet again.

Most people don’t knock out debt in a few months. It’s a long battle – like a cage match – and you’ll need someone to help you out when times get tough.

Get your spouse on your team and tag them in when you need them.  Having two people in the fight gives you better odds at success.

Strategy #3:  Block Out the Noise

Being distracted by “booing” fans can make any wrestler lose their concentration and end up getting clotheslined. The same goes for budgeting — getting frustrated by Facebook fallacies and comparing your lifestyle others will get you flustered and make you quit your debt-free strategy.

Train yourself to mute the outside noise.  Cause that’s what it is — just noise.  Your friends probably regretted that Mediterranean getaway when they got the Visa bill.  You and I know deep down that a lot of “I did this” or “I bought that” is followed by regret.

Stay focused on yourself, ignore all the flaunting jeers, keep on paying down your credit cards, and pile-drive your debt to zero.

Strategy #4:  Take Debt Down for the Count

Things never go as you planned when you’re paying off debt. You might get hit you with an unexpected expense, but that doesn’t mean that the match is over — just a lesson learnt for that round.

Dwayne “The Rock” Johnson put it best when he said, “I like to use the hard times in the past to motivate me today.”

Don’t let financial setbacks throw you off and bring you down. Adjust and adapt as you go.  

Tweaking your tactics and learning from your financial mistakes will give you the edge you need to knock out your debt for the count.

Now it’s your turn…

What strategies have you used to tackle debt? What’s your favourite wrestling move?  Let me know in the comments below.

P.S.  When I was a kid, I met Andre the Giant in an airport.  FYI he really was a giant.  The airline disassembled the armrest because he needed two seats.

P.P.S.  Wrestling’s fake. It’s not real. Hate to break it to you.