Resolution to Pay Down Debt

My new year’s resolution is to pay down debts. That’s not very original, I know, it might even be a bit trite, but I think it’s the right place to focus my intentions for the new year.

I wish I could say I would be paying off my debts in 2013. Possibly I can, but when I compare the amount I owe to my expected income, it seems more realistic to state a goal of paying off half of my debt or more during the year.

Debt is a form of suspense in the way it sits there waiting. It waits, of course, for you to pay the money back, but this also implies waiting for you to do the work to earn the money you will use to make the loan payments. With its connection to your time and work, debt gives life a structure you would rather it not have. If I get sick for a day, will I fall deeper into debt? Probably. Can I move or change jobs? Only if the debt says it’s okay. Life is simpler, then, if you can pay off a debt. Every payment that reduces a debt is a step in that direction.

So that’s my point of emphasis for 2013. With less suspense of any kind, action becomes easier, so over the next year, I’ll be moving from suspense toward action mainly by paying down debt.