Debt is like a collar around your neck that can drag you down physically, emotionally and financially. Your first priority when you’re saddled with debt should be to dig your way out. To that end, Jade Warshaw, money expert with Ramsey Solutions, shared a TikTok video where she emphasized taking any job to pay off your debt isn’t just acceptable; it can actually be the smartest move you can make.
Here’s why — and why you shouldn’t wait for the “perfect” job to come along in order to pay down your debt.
You Need Momentum in the Right Direction
As the saying goes, if you find yourself in a hole, the first thing you have to do is stop digging. According to her profile on RamseySolutions.com, Warshaw along with her husband paid off more than $460,000 in car loans, credit cards and student loans. She emphasized in the TikTok video that you don’t need a dream job to get out of debt. You simply need something that starts moving you in the right direction. Bringing in additional income allows you to start chipping away at debt now, rather than watching it build up even more as you’re waiting for that “perfect” job.
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The Slightest Bit of Relief Can Help You Breathe Easier
Warshaw pointed out that it’s not just the income that an immediate job brings to your household. It’s also a bit of relief. When you have a little bit of extra income that you can use to pay down your debt, it reduces mental pressure and stress, as you see your balances going down rather than up. This, in turn, allows you to breathe easier and make clearer financial decisions, rather than making moves out of desperation.
It Gives You More Options
Depending on how much you earn from your new job, it might afford you additional financial flexibility. For example, you might have some extra funds to slowly build up your emergency fund or perhaps sock away some in a retirement plan for long-term savings. It also allows you to patiently search for a better job, as you’re not in such a desperate financial situation to begin with.
It Initiates a Disciplined Plan
Oftentimes, people who pay off debt end up right back in the same hole over time because they haven’t changed their lifestyles. Warshaw credits part of her long-term financial success to a shift in her mindset; once she and her husband began working “anything,” they also took on a “do what it takes” attitude.
Once you accept a job, it instills a sense of discipline. You get paid at regular intervals, you allocate your money according to your budget and you set financial priorities. If you work at it, Warshaw said, this type of discipline can carry over to how you spend money going forward. This can help you keep out of debt in the future as well.
It Can Provide You With Dignity and Hope
When your expenses exceed your income, life can feel like a constant struggle. As debt begins to pile up, it’s easy to lose hope. But grabbing any job you can, as Warshaw suggested, can help you reclaim control over your life. Income boosts often raise self-esteem and using that money wisely to pay down your debt can give you hope for the future.
It Puts You in Motion, Instead of Waiting
Far too many people fall into the trap of waiting for things to get better instead of taking steps to create their own futures. Instead of dreaming of how “the next promotion” or “the perfect job” will handle your debt problem, take a stand right now. By taking any job that provides income, you avoid the scenario in which your debt balances continue to rise while you’re waiting for the “perfect” solution — one that may never come.
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This article originally appeared on GOBankingRates.com: 6 Reasons You Should Get Any Job While You’re in Debt, According to This Ramsey Expert
