As you know, I always suggest that people get out of debt. Given the financial uncertainty in today's world, this is a fabulous time to make the commitment to reduce your debt. Becoming debt free has made a huge difference in my family's life, giving us the freedom to save larger amounts for retirement and still do quite a bit of travel while we are living overseas. What could you do if you didn't have to make payments against your debt each month?
Needing some encouragement and motivation? The Debt Movement, brought to you by my friend Jeff Rose of Good Financial Cents and the folks over at Ready For Zero, might be just the jump-start you need.
What is it?The Debt Movement is an online community challenging itself to pay off a total of $10,000,000 in debt in 90 days. (Yup, that's millions.) Working together usually makes a job easier and more fun. Why shouldn't that work for debt reduction, too?
What do you have to do?Sign up, and do your best to pay off your debt. Credit cards, personal loans, car loans, mortgages, student loans - whatever kind of debt you have, you can pay it off.
How does The Debt Movement Help?The Debt Movement offers insightful blog posts and a forum where you can share tips, strategies and successes with other members. You also get the fun of adding your amounts to the overall total. That is exactly the type of thing that makes me happy!
Plus, you can enter to win a Debt Scholarship - cash to pay down your debt. How cool is that?
Obviously, I think this is a fabulous idea. Jeff Rose is the same guy who started the Roth IRA Movement, and that was a super-success in educating a lot of people about the benefits of Roth IRAs. If the Debt Movement has half as much impact, it will be a huge success.
So, what are you waiting for? Sign up today, then get started tackling that debt. It's a smart move, and you'll be glad you did it. If you decide to join, please let me know if you found it useful and how much debt you've managed to pay off. Every dollar counts!