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I Used to Be in Debt

October 28, 2012 By 22 Comments

How getting out of debt is like the MTV show, I Used to Be Fat.

If you haven’t been living under a rock, you’ve probably had a chance to see MTV’s new show, I Used to Be Fat. The show documents young adults, usually high school seniors and high school graduates who want to lose weight before they start college. Each episode features a different teen. I absolutely LOVE this show. I like seeing the determination and perseverance of these kids, they are really focused on their goals. Most of them thought about quitting along the way but each one makes it to the end and they usually reach their goal.

I was thinking the other day about how the TV show is very similar to a battle with debt. When you’re in debt, it can feel like you’re carrying around a second person, experiencing frugal fatigue, or that you have a spare tire of bills around your waist. I know because I’m working on getting out of debt myself. I realized that there are 3 major points we can learn from the MTV show I Used to Be Fat when trying to take control of our debt.
i used to be in debt

  • Give Yourself a Deadline

Before the teens even begin a weight loss program, their coach/personal trainer gives them a large tear off number calendar to place on their wall. It has the total number of days until their program completion date, and every day they rip off the next number.

It is a good idea, when you are paying off debt, to set a deadline for your debt-free date. Setting a deadline is a way of making your goal specific. Every time you look at that calendar or see that date it will push your brain consciously and subconsciously to make it to your ultimate goal, to reduce spending and get out of debt.

  • Check in Regularly with a Coach

Every week, the kids had a weigh in. Their personal trainer was making sure that they were on track with how much weight they were supposed to be losing at each stage in the process. Sometimes they were attempting to lose one pound a day! I never thought that was possible or healthy, but most of the teens actually accomplished it under the supervision of their coach.

If you really want to prioritize your goal of becoming debt free then you really have to give yourself check points. You can enlist the help of a friend or even a debt counselor to help you along the way. Having a good support system can make all the difference.

  • Get Rid of Old Habits and Create New Ones

When one of the teens was at a restaurant with her friends, she ordered a lean meal instead of the greasy french fries that her friends had. The personal trainer also taught her how to cook healthier meals so that she would be able to maintain her new lifestyle change.

Becoming debt-free is not a one-time goal. It has to be a lifestyle change. When I decided to start getting out of debt, I had to first evaluate why I was in debt in the first place. I had to eliminate my habit of impulse spending and replace that habit with a good habit. Now I impulse buy stocks and my portfolio loves it! It’s not easy to change a habit that took years to cultivate, but with a good support system, it is entirely possible.

How did you start getting out of debt?

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About LaTisha Styles

"Money is a tool. Use it to get where you want, but don't let it control you."

Writer, runner, competitive as heck. Love to laugh and make others laugh. Focused on helping you build success and stay motivated along the way. Start investing now and let’s build wealth together.

  • http://barbarafriedbergpersonalfinance.com Barb Friedberg

    Excellent analogy. So important to target the personal motivation and accountability. I also applaud and share your mission; financial success for young adults!! Keep up the good work.

    • http://www.FSYAonline.com LaTisha

      Thanks! I’m so motivated to get out of debt and I just happened to think of this show. I only wish I would get out of debt in only one summer! :)

  • 20′s Finances

    I guess I have been living under a rock because I haven’t heard of that show. :) Actually, I’m just too cheap to pay for cable. I like the fact that you highlighted how important determination is to fight debt.

    • http://YoungAdultFinances.com FinancialSuccessforYoungAdults

      It hasn’t been on for a while but it’s coming back soon. Btw, there should be an option in the comment box now to add your URL if you want.

      • http://20sfinances.com 20s Finances

        ahh… that’s better. I kept saying to myself that I needed to complete that profile. Thanks for the motivation. :)

      • http://20sfinances.com Anonymous

        Nevermined – not sure how to add the link… I got my gravatar up. I don’t know why this is so hard. I’ll look into it tonight when I have more time. :)

  • http://twitter.com/onlyonecent One Cent At A Time

    Good analogy, both require discipline and dedication and the method is so simple even a cave man can follow..

  • http://twitter.com/URFinanceSimple YFS

    You hit the nail on the head by saying create new habits.  I tell my friends and clients all the time.  Replace your bad finance habits with good ones that cater to your goals.  Awesome post

  • http://twitter.com/squirrelers squirrelers

    I have actually never heard of that particular show, so count me in that group under the rock:) Which is fine with me…

    Anyway, I think you make some really good points here. It’s important to really work on creating new habits, and making them routine. Also, accountability is a big thing as well. I find that putting oneself on the line that way, rather than internalizing goals, can go a long way to helping some people.

    • http://YoungAdultFinances.com FinancialSuccessforYoungAdults

      It’s one of the reasons that I really want to have a workout buddy. The same way that I should have a friend who is also looking to reach a certain financial goal.

  • http://www.facebook.com/people/Barbara-Friedberg/100000181675547 Barbara Friedberg

    I used to be fat:). Got thin bit by bit, and stayed that way!!!! It’s the only way for me. Never been in debt, yea!

    • http://YoungAdultFinances.com FinancialSuccessforYoungAdults

      Congrats! I definitely would like to be able to say that I’ve never been in debt but I will be so excited in 2 years when I make that final payment.

  • http://www.totallymoney.com/blogs Harri Pierce

    You’re so right- dieting and budgeting are so similar. I’d add that, for a successful diet (and a successful budget) you shouldn’t be too hard on yourself. Go super strict and you’ll inevitably and binge sooner or later. 

    TV show sounds great. Don’t think we have it over here. 

    • http://YoungAdultFinances.com FinancialSuccessforYoungAdults

      Exactly! I find that giving myself a break from 100% effort every now and then is good. I think it’s much more rewarding once you’ve completed your goal.

  • http://www.thefrugaltoad.com Paul @ The Frugal Toad

    I like the analogy LaTisha. Having someone act as a coach is a great idea in theory however, many people are sensitive about money and may not appreciate the help! If both of you are working towards the same goals the details should fall into place.

  • http://ipickuppennies.net Abigail

    When I met my husband, he had defaulted school loans of $20,000. Later he needed oral surgery and a few other things — about another $9,000. There were other things, but point is that we were kept on our toes.

    To get out of debt, we just threw everything we could at the card each month. We used my mom’s car, so insurance or gas money, and our utility bills were low. We also did do some 0% balance transfers, which helped us pay down the balance more quickly. So we were pretty successful. Another way we sped up the process: no emergency fund.

    We both have health problems, so we’re constantly hit with expenses we can’t plan for. It didn’t make sense for us to try and put aside money in a fund that we’d eternally be draining and then scrambling to replenish… with funds that could go to the CC debt. So we just threw everything at the card.

    • http://youngadultfinances.com LaTisha Styles

      Wow! That’s determination. I also like that fact that you mentioned using credit wisely to get out of debt. 0% balance transfers are great if you know that you won’t just rack up more debt on the empty card. Also, knowing how your expenses typically flow and being honest with yourself about not needing a savings fund until the debt was gone is pretty smart.

  • Crystal @ Get A Copywriter

    We actually diet more like we budget, lol. I’ve always been fine with prioritizing my money, but food is different for me. So when I am losing weight successfully, it’s because I am budgeting my food calories or points with Weight Watchers the way I budget money. LOL, am I the only one that finds money way easier than food to deal with wisely?

  • http://thomassmoore.com Thomas S. Moore

    I actually started getting out of debt when I had my first son. Just the thought of having another life depend on me made me realize that I need to be better with money. I first had to change my mindset and look at debt in a different way. It wasn’t ok to just be able to make monthly payments. Then I made a plan and followed it until the end tweaking it when needed and increase payments when I got extra money.

  • http://thirtysixmonths.com marissa

    I love that show! I rea like how you broke down the steps. I look at being in debt/overspending as an addiction and one that needs to be continiously monitored.

  • http://www.mymultipleincomes.com My Multiple Incomes

    Great stuff! Creating new habit is really one of the thing people should work out when you want to be debt free. It also pays to enlist the help of a friend or someone you can expect to be honest with you when it comes to managing your finances. Though, I must say habits are usually difficult to change or kick out of your system.

  • Sam

    Ever since I left my job I haven’t watched TV, but that show sounds fun!

    So interesting to learn why folks go deeeeep into debt and the liberation of getting out.

    Sam