Judith Moor

How I Paid Off An £18000 Loan In 7 Months – The One Thing I Did And How You Can Apply It In Your Home Business

If you want to know the #1 Action Step to take before you begin your home business or project to achieve success, this blog post and resource is totally for you.

First things first, I am going to share with you: 

The most important step you  have to take to create success in your home business or project, one that 99% of people don’t give enough thought to but which is the one that successful people do well…

The 3 step process that you need to implement that will really  take your dreams, aspirations and desires and turn them into a great success story.

Grab Your FREE copy of this week’s Free Gift: The Ultimate S.M.A.R.T. Goal’s Plan
Judith Moor

You must have heard a trillion times about the importance of setting a goal for yourself. That is because Goal setting is one of the most important steps to beginning any project.

Tony Robins has a great quote about setting goals. He says:

“Setting goals is the first step in turning the invisible into the visible.”

This applies to every area of your live and most importantly in your home business.

The problem we often have is that we set massive goals (the same problem I faced for a long time) and when we don’t hit our target we get discouraged and quit or think of quitting. What I have learned is the process of setting mini goals that are achievable in bite size steps which I can see and relate with, then I feel motivated. I believe that is the way forward especially if you are a beginner or is very busy, for example, you work and run your business as a side project.

How I Paid Off An £18000 Loan In 7 Months – The One Thing I Did

So, what has goal setting got to do with how I paid off an £18000 Loan in 7 months? Everything. The point is, I didn’t just set a Goal, I set a S.M.A.R.T Goal which is what I am going to show you how to do right now.

Before we go into the process of setting a S.M.A.R.T. Goal, what does S.M.A.R.T mean?

S.M.A.R.T is an acronym and it stands for –

S:   Specific,

M: Measurable

A:  Attainable and Achievable,

R: Results Oriented

T: Time Bound.

The Step-by-Step Process to setting your S.M.A.R.T Goal

Begin by WRITING DOWN that One Thing That You Really Want to Achieve. Yes, I said Write IT DOWN. Not think about it in your mind. WRITE IT DOWN. I cannot emphasise this enough.


  • Pay off debt
  • Generate A Deposit for a new house
  • Pay School Fees

Now turn your desire into SMART Goals in 3 steps:

I am going to use the debt example because that is what I have done in the past 7 months to pay off a debt of £18000 and I am going to use a 12 months time frame for demonstration purposes.

Step 1:       Determine How Much You Need To Pay Off Your Debt – Your Income

For each of the Goals you want to achieve, write the amount of money you need per year and write it next to the goal. Example:

Pay off debt – Debt amount (capital +interest):         £19350

So in our example, the target annual income that you need to put into this loan is  £19350

Target Monthly amount to be paid into loan:              £1612.50

Target Daily earnings                                                        £53.75

Step 2:    Quantify Your Target Goals

You have to quantify what it looks like by actually breaking down the numbers to be successful.

  • Now, think about the resources you have available to you right now…example your job – how much do you earn from your job a day/ a month, a year…,
  • Your side project – does it bring in anything yet, if not, no problem, just a side note etc

The bottom line here is – what is going to be the source of your income.

You see, when you go through a process like this, it gets you thinking outside the box. You begin to see areas in your life that you can bring out that part of you that you didn’t know existed, Yes, You Have More Potential Than You Think You Have.

  • Now let’s talk about saving money for future months… at least the next three months…

-Do you have a starbucks habit?

-How often do you eat out?

– How Often do you go shopping for cloths, shoes etc

My point here is that people often say they don’t have money or they are completely drained out… and often, they actually believe they are because they don’t learn how to manage their money.

I read a quote once and I felt really stupid because I could see how it applied to me in my past, rich people versus poor people way of thinking.

“Rich people manage their money well. Poor people mismanage their money well.”

Eye opener: You will be shocked at how much you can save a month just by establishing a budget…That is a fact I can attest to. I used to think I was good at managing money, I am an accountant remember, but oh boy, how was I wrong.

Step 3: Making Your Goals S.M.A.R.T.

Now let’s really put some ‘meat on the bone’.

Alot of people don’t put in the time to set their goals. Therefore, everything they think of ends up becoming a ‘Hope’ or a ‘Wish’. After today, that is not going to be you anymore because you are going to set a goal for yourself like a pro.

When S.M.A.R.T Goals are set, they are most often achieved than not – and some times even before the time frame Why?  because setting a S.M.A.R.T goal is a ‘winning’ formula.

It’s Time to break down each of those letters in the acronym.


This word stresses on Specificity as opposed to Vague. This means the goal is Very Clear and Not Ambiguous.

Clear Goal: Pay Of My Personal Loan. (very simple and very clear).

Here you can make this a little more strategic by writing down Why It is Important that you pay off that debt and What is involved. This makes this point even stronger and gives you an emotional attachment to it.


What criteria will you use to measure progress towards the attainment of that goal. In my case, each month, I could clearly see the capital element of my loan reducing and that meant the interest was reducing as well.

Your criteria has to be concrete and you can see it. The bottom line here is that if a goal is not measurable, then it would not be possible to know whether progress has been made towards the successful completion of that goal and how to determine when you’ve succeeded.


This is a very important aspect as the goal has to be realistic and attainable. An Attainable goal may stretch you, yes, I mean really stretch you, but, it should not seem impossible to accomplish and inside of reality for you.

The idea is that you create goals that will challenge you and yet have a high probability for success taking your current resources into consideration.


For your goal to be relevant and results-oriented, it should get you closer towards your vision that means, it should be in line with the direction where you want to go. For me, I wanted to pay off my debt so that I can start saving up for other exciting things I want to achieve in my life. A goal that supports your vision of where you want to go and moves you in the direction of what you want to accomplish in your life is a relevant and results-oriented goal.


This is the one that the majority of people are scared of, even if they wrote everything down in the other steps, this step is often left out because this is the one step that will enable you stretch and get you out of your comfort zone.

This term lays emphasis on the importance of giving your goal a target date. A commitment to a deadline adds a sense of urgency to push you to meeting a specific deadline. Challenges will come and life will get in the way. There will be days of discouragement and demotivation, hence it’s main objective is to prevent goals from being overtaken by all these challenges.

So there you go, your S.M.A.R.T. Goals.

Putting my goal in to a S.M.A.R.T goal so that you see what I did and how simple it was to do that once I decided I was going to do it.

My S.M.A.R.T Goal:

‘I will pay off my bank loan of £18000 with Nationwide Bank by the 30th of June 2016’.

I set that goal in October 2015 and I accomplished it on the 31st of May 2016 when I made my final payment.

If You Enjoyed This Post, I would greatly appreciate it if you do me a favour by entering a comment below and sharing it.

Judith Moor

‘Helping You Start Your Entrepreneurial Journey & Taking It To The Next Level’

Judith Moor’s Life Style Entrepreneur Blog

Email: judith@judithmoor.com

Facebook: Judith Moor

PS: Just curious, would you be open to a side project that wouldn’t interfere with what you’re currently doing? If so, Take A Look At This  and let me know what you like best about it by emailing me at judith@judithmoor.com

PSS: If You Are A Professional Who Has Always Wanted To Start Blogging As A Side Project To Generate Income But Just Didn’t Know Where To Start, This Free Report Which Teaches You How To Quickly Build A Passive Income Through Blogging Will Help You. Click Here To Grab It .

If you enjoyed this post on ‘How I Paid Off An £18000 Loan In 10 Months – The One Thing I Did And How You Can Apply It In Your Business’, share and comment please


  • Andy Atsugah

    Reply Reply November 10, 2016

    great post Judith. thanks for sharing! love it! bookmarked it and will be revisiting it.

    • Judith Moor

      Reply Reply November 12, 2016

      Thank you Andy. Happy you found value in it. I appreciate you. Thank you for stopping by

  • Demetri Benton

    Reply Reply November 9, 2016

    That is awesome Judith! Congrats! S.M.A.R.T. is a simple, but powerful technique to use for achieving my goals. Thanks for sharing!

    • Judith Moor

      Reply Reply November 12, 2016

      Thank you Demetri. Yes, S.M.A.R.T. is great for achieving any goal. It feels good after achievement. Thank you for stopping by. I appreciate you.

  • Michael Burns

    Reply Reply November 9, 2016

    Great job and great tips. Loved the post. 🙂

    • Judith Moor

      Reply Reply November 12, 2016

      Happy you loved it Michael. Thank you for stopping by. I appreciate you.

  • Rory Singh

    Reply Reply November 7, 2016

    That is a lot to get paid off. Thanks for sharing Judith!

    • Judith Moor

      Reply Reply November 9, 2016

      Yes Rory, it was a breath of fresh air when I got it out of the way. Thank you for stopping by. I appreciate you

  • Di Downie

    Reply Reply November 7, 2016

    Hello Judith,

    Congratulations Judith, getting to major goals like this is such a fulfilling achievement and you are a role model for us all.

    yes goals are just the first steps into making anything visible then taking action like have is the ultimate.



    • Judith Moor

      Reply Reply November 9, 2016

      Thank you Di. It’s one of those goals that came with much sacrifice and then I fully understood the real meaning of commitment.
      Thank you for stopping by. Appreciate you.

  • julie Syl kalungi

    Reply Reply November 6, 2016

    Woow Judith, Much respect, Thats what I call committed In my book they are called BOlD goals You would love what this means. Congrats on paying off that debt. Very well put 🙂

    • Judith Moor

      Reply Reply November 9, 2016

      Thanks a lot Julie. I am yet to get your book, and I am looking forward to absorbing every word of it. Yes, commitment is one word I fully understood only after I went through paying off that loan. It’s gross and yes, it feels good after achievement. Thank you for stopping by. I appreciate you.

  • Manuel

    Reply Reply November 5, 2016

    Very great post, thank you for sharing !

    • Judith Moor

      Reply Reply November 6, 2016

      Thanks Manuel. Thank you for stopping by. I appreciate you.

  • Keith Everett

    Reply Reply November 5, 2016

    Excellent post Judith and that is a fantastic achievement, well done.

    • Judith Moor

      Reply Reply November 6, 2016

      Thank you Keith. It felt really good.Thank you for stopping by. I appreciate you

Leave A Response

* Denotes Required Field