Debt can feel like a heavy weight pulling you down, especially when you’re staring at numbers like $143,000 in student loans and $52,000 in auto loans. Believe me, I get it. When we were tackling our credit card debt, it felt like a never-ending battle. But we did it—with consistency, increased income over time, and a whole lot of dedication.
Student loans, though? They’re a different kind of beast, and I won’t lie—sometimes I want to ignore them altogether. With Public Service Loan Forgiveness (PSLF) so up in the air in 2025, it’s easy to push them to the back burner. Carlton has been out of grad school since May 2024, and even though he consolidated his loans, navigating the income-driven repayment process has been frustrating and unclear.
Still, building our dream life together means building financial independence, even in the face of debt. Here are five strategies to keep building your dream life while paying off debt—without losing your sense of joy and purpose along the way.
1. Keep Investing in Your Future
I know there’s a lot of debate around this, but hear me out: if your employer offers a retirement account with a match, invest in it. You’re essentially leaving free money on the table if you don’t. If you’re self-employed, aim to max out your $7,000 Roth IRA or invest 1–10% of your income into a solo 401(k) or SEP IRA.
Even while paying off debt, investing in your future is a key part of financial independence. It’s about balance—not perfection.
2. Don’t Deprive Yourself of What You Value
Living a life of restriction isn’t sustainable or satisfying. You’re paying off debt, not punishing yourself. If there’s something you truly value—whether it’s traveling, creative hobbies, or treating yourself to a latte every now and then—find a way to include it in your budget.
You’re allowed to enjoy your life while tackling debt. In fact, you should.
3. Keep Dating Your Partner (or Yourself!)
If you’re in a relationship, continue to date your partner—even frugally. Grab a puzzle and some wine, turn on your favorite playlist, and make a cozy night of it. Explore a park in a neighboring town, or people-watch at the mall while splitting a coffee.
If you’re single (or even partnered), take yourself on solo dates! It’s a great way to recharge, explore your interests, and practice self-love. Whether it’s a museum visit, a hike, or a night in with your favorite movie, investing in yourself is always worth it.
4. Increase Your Income
You’ve probably heard this before: you can only cut so much from your budget, but your earning potential is limitless. As annoying as that advice can be, it’s really true.
Look for ways to bring in more money, whether it’s negotiating a raise, picking up a side hustle, or diving into the gig economy. The extra income can speed up your debt payoff and give you the freedom to enjoy more of life’s little luxuries along the way.
5. Build a Vision for Life After Debt
When debt feels suffocating, it’s easy to focus only on getting rid of it. But don’t forget to think about what comes after. Create a vision for your debt-free life: What will you do with the money you’re currently putting toward payments? How will you build the life you’ve been dreaming of?
Having a clear vision keeps you motivated, reminding you that paying off debt isn’t just about numbers—it’s about creating a future full of possibilities.
Paying off debt isn’t easy, but it doesn’t have to feel like an endless grind. By investing in your future, continuing to do what you value, nurturing your relationships, increasing your income, and dreaming big, you can build your dream life—right now, not just when the debt is gone.
