In order to embrace full-time or long-term travel as a lifestyle, it’s best to be debt-free. Unless you have a regular stream of income that can more-than-cover regular debt payments, it will be a perpetual thorn in your side as you travel.
But merely setting a goal to get out of debt is dangerous. Depending on the amount of debt in question, the goal might appear almost insurmountable, with no real reward at the end of the day. And struggling to achieve an ultimate goal of having nothing (but at least not owing anything) – is far from exciting or glamourous.
So it’s no surprise that motivation wanes when we’re getting out of debt.
The trick is to keep your eye on the positive side of the scale. Don’t just envision getting out of debt – it’s not an exciting enough goal in and of itself to keep you excited. Instead, set the bar higher. For example, you could make the goal having “x” dollars saved to start your travels. It might extend the timeline of your goal, but the idea – the vision, the excitement – of knowing you’ll be traveling at the end of this debt slog, can keep you going.
Here’s a little more about how to set debt-related goals that you stand a chance of meeting: