When it comes down to it, the "how-to's" of getting out of debt are fairly straightforward and simple: cut back expenses, make lifestyle changes, pay off high interest debts first, understand that it is likely to take a few years, etc. While these principals for getting out of debt are accurate and provide success, they leave out important factors necessary for true success. Because for many, the difficulty does not lie in the "how to get out of debt", but in the sticking to a debt management plan once it is made. Getting out of debt takes more than a good plan – it also takes persistence, determination, and support.
Often, one of the things people find so disheartening about debt is the amount of time it takes to get out from under it. Even with a strong debt management plan, it can take years to pay everything off. In addition, it's hard to see success when you're getting hit with high interest rates every month. Many end up feeling like they are not making any real progress, and that their efforts are pointless. Although many understand that they did not get into debt overnight, and that they are not going to get out of it overnight, it can still be disabling only seeing small amounts of progress every month.
Determination goes a long way towards overcoming feelings of pointlessness, and thus toward boosting confidence. While some people seem to have determination in spades, even the most determined person may find their resolve weakened when faced with the uphill battle of debt repayment. Support is the key to keeping a strong resolve toward debt management, as well as holding a strong sense of persistence. While the support of friends and family can be helpful, many find the support of a larger group of fellow "debt warriors" invaluable.
Groups such as the Women in Red Racers offer an extended support system for those working toward being debt free. These programs offer the real key to successful debt management – innovative ways of maintaining persistence and determinations, ways that actually work. These programs are designed to applaud small and big steps in the right direction, and offer support and solutions for bumps in the road. While debt management is a long, hard road, many find that the secret to staying on that road is knowing they are not alone. And therein lies the answer to true success when it comes to debt repayment – a support system that helps individuals repaying debt stay determined and persistent.