The Debt Movement – $10 Million in 90 Days Challenge

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I mentioned one of our goals for the year is to pay down our student loan.

If you looking at doing the same, getting rid of your debt, you may be interested in a movement that is brewing in the personal finance community – The Debt Movement.

What is the Debt Movement?

I'm sure you're wondering what The Debt Movement is about and how it affects you. Jeff Rose from Good Financial Cents and  partners like Ready for Zero have teamed up for a massive project – they're hoping to get $10 million dollars of debt paid off in 90 days.

Yep, you read that – $10 MILLION DOLLARS.

If you remember this past fall I had a contest for Couple Money subscribers to get your feedback on debts that you have and to see what I could do to help you out. I received some great feedback and I learned that many of you have already started on getting your debt paid off, but you'd like to see more tips on how to get that done faster.

All through out the 90 days, Couple Money and My Financial Reviews will be sharing ways to find ways to build your debt snowball faster. Interested in getting started? Go ahead and sign up today to be a part of this massive challenge.

• Enter your email by joining the movement to receive free updates of new content on their site straight to your inbox.
• Follow the movement on Twitter at @jjeffrose @readyforzero
• Like Debt Movement on Facebook!
• Go and share your own stories, tips, and questions in the Debt Movement Forums.

More good news: If you're committed to paying down your debt this year, sign up for $15,000 worth of Debt Scholarships to speed up the process even more. 

How to Enter for a Debt Scholarship

Entering for a chance at earning a scholarship is easy. The real work is working on your goal! Here are the details from their site:

• Step 1:  Apply –  Complete the Debt Scholarship Application.  Applicants will have until February 15th to complete the Debt Scholarship Application.
• Step 2:  Sign Up for The Debt Movement Newsletter – We will need your email address to contact you throughout the duration of the movement.
• Step 3:  Track Your Progress –  1) At minimum we will be sending out a survey twice a month to see how your progress is doing.   We will expect you to be as honest about your progress as possible.   Winners are not solely based on total debt paid off,  but also the ability to show poise and determination through financial setbacks.

Don't worry about how much debt you have – the important thing is that you work at paying off your debt and you're transparent with your progress. Check here to get all the official rules and details.

Thoughts on The Debt Movement

I'd like to hear from you – do you have any debt you'd like to work on for this challenge? Hw much debt is it and how much do you think you can eliminate in 90 days?