I Want To Pay Off My Debt – The Debt Movement


It is well known that Americans use debt a lot! Recently there has been a lot of talk about a student loan crisis and I can completely see why. If there are many people out there with as much student loan debt as my girlfriend had when she graduated many new graduates will have little to no disposable income to keep the economy going.

Student loan debt isn’t even the biggest problem though. Credit cards and payday loans have extremely high interest rates that can keep you in debt if you don’t make an effort to pay them off quickly.

There is something that is hoping to change your debt situation. On January 2nd the Debt Movement started. That’s great… but what is it?

What Is The Debt Movement?

The Debt Movement is another Jeff Rose style movement and it is a GREAT way to start off the New Year. It will last 90 days and the goal of the movement is to have everyone who is involved pay off $10,000,000 in debt! That’s not a typo. $10 million is a lot of cash!

Personally, I have done well with my finances but I do have experience with debt myself. I had a plan and graduated from college debt free but I took out a car loan to build credit. I paid my car loan off before the end of the three year term and now only have mortgage debt myself.

That isn’t the whole story though… My girlfriend has some pretty major debt and I’m helping her save to pay it off. Once we get married I’ll be using the money I’ve been saving to aggressively attack her loans.

She graduated with a little over $80,000 in student loan debt and you can read more about Our Debt Pay Down Strategy here. As of the last update she only has a little more than $60,000 in student loan debt left and I had saved over $22,000 to help her pay them off once we get married.

How Do You Benefit From The Debt Movement?

The Debt Movement can help you stay motivated to pay off your debt. You can get tips and updates on how to pay off your debt straight in your inbox! In fact, The Debt Movement even has $15,000 in debt scholarships to help you pay off your loans, credit cards or other debt! So how do you join?

Get Involved! Join The Debt Movement

The first thing you should do is join ReadyForZero who has partnered with The Debt Movement to help people track and pay off their debt. ReadyForZero is a great tool that allows you to see all of your debt in one place and come up with a plan to pay it off.

After you’ve set up your ReadyForZero account make sure to make your debt payoff dollars available to be shown as part of The Debt Movement. It is completely anonymous so what do you have to lose? Just flip the switch in the picture below.


The next step is to join the email list if you want email updates. You can do that here. You can also participate in the forums if you’d like.

The last (and MOST IMPORTANT by far) step is to start paying your debt off! Let’s get the ball rolling and get to $10,000,000!

What type of debt do you have? How much? Let me know in the comments below! What do you want to have paid off first?

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About Lance Cothern

Lance Cothern, a Certified Public Accountant (CPA) licensed in the Commonwealth of Virginia, is the founder of Money Manifesto. You can read more about him here or connect with him on Facebook, Twitter, Google+ or Pinterest.


  1. Lance,

    I am in the game as well! This is very cool, and I am so happy Rose came up with it. I am in the home stretch of the payoff and don’t expect to get scholarship or anything, but this has been very fun. See you at the finish line!

  2. It’s amazing that over 700 people have already joined the movement. From that alone I’d say the movement has been a success! Hopefully we can all get to the $10M mark though!

  3. I think this is an awesome idea that Jeff cam up with. I think the interest rate is possibly the worst part of getting into credit card debt. Thankfully that’s long in my past and only have our mortgage.

  4. It’s during times like the debt movement that I’m happy to have little debt now. Back during the period where I went a year without any income, I had SO MUCH debt. It is imperative to get it paid off (and quickly).

  5. Sounds pretty awesome! I never heard of it. My wife and I only have our mortgage left, but that still counts as debt!

  6. Although I have very little debt (small mortgage & car loan), I am paying it down to be debt free in retirement (5 years). I joined the movement and my additional $350-500 can contribute to the goal.

  7. I’m in! Hoping to pay down a chunk of my student loans.

  8. Brett Wilson @ wstreetstocks says:

    Great article. Good to see that you pointed out that student loans aren’t your biggest problem, credit card debt and payday loans are a much bigger threat.

  9. The only debt we have is our mortgage. I’m excited to see how many people have signed up and am looking forward to seeing and hearing about how everyone does. Great movement to be a part of.

  10. Fortunately my student loans and credit card debt days are behind me. I can’t imagine having to pay for college tuition nowadays though, ouch is it expensive.

    I walk past a payday loans place downtown every now and then, and every time I see people in there I just want to shout to them “walk away, don’t do it!”

  11. Getting people talking about debt is certainly a worthwhile goal… Far too many people just accept a debt ridden life as their reality and refuse to take the steps required to change.

  12. I think there are few other people who have room to talk when it comes to paying off debt as you do Lance. The progress you and your GF have made on paying off your loans is remarkable.

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