Cycling Through Debt - [Top 10] Lessons from the Trails –Wikus Olivier – CreditSmart, Managing Director

Everyone who knows me knows I love a good cycling adventure. One of the toughest I’ve ever tackled was the Attakwas Extreme, a recent, gruelling 120km mountain bike race across the Outeniqua Mountains with nearly 3,000 meters of vertical gain. It took almost 8 hours, giving me plenty of time to think – not only about what I was experiencing, but also about how challenges, with the right mindset and support, can turn into victories.

As I pedalled, it struck me just how similar a tough race is to tackling debt. Both demand planning, discipline, strategy, and persistence. And just like cycling, getting out of debt is a journey every South African deserves fair access to and proper guidance through.

As someone who has spent the past 20 years in the debt management space, I’d like to share ten valuable lessons I’ve learned along my journey.

1.     Preparation – If You Fail to Plan, You are Planning to Fail [Benjamin Franklin]

a. Decision and Motivation

Whether it’s a race or a debt journey, it starts with a choice. I’ve always wanted to take part in the toughest MTB races. There are so many races available these days, it is tough to decide which one to participate in. But the point is: I must decide I want to do a race, and depending on which one I choose, my strategy and approach will differ.

Getting out of debt works the same. Some people have more debt, some have less, but the decision to get out of debt, or which solution or strategy to use, is the most important step. You must decide you want to do it. Your choice to commit is the first step toward control. Picture yourself at the finish line: free from debt, proud, and empowered. That’s your motivation.

b. StrategyMotivation is great, but a plan is what changes outcomes. In cycling, that’s your training programme; in debt, it’s a clear financial roadmap with specific outcomes and progress checkpoints. A good debt strategy answers a few key questions:

Where are you now? (Honest baseline)What are your pain points? (High-interest loans, arrears, impulse spending)What’s your goal? (Debt-free, improve credit score, save money)How will you get there? (Budget, repayment plan, monitoring) 

c. Equipment

In cycling, you don’t need the fanciest bike, just a reliable one. Likewise, you don’t need complex tools to tackle debt, just a functional setup:

• a realistic budget,
• a repayment plan, and
• some basic rules that you don’t break.

2.     Training in Action

a. Discipline

Training isn’t always fun, and debt repayment rarely is either. And, since debt doesn’t care how you feel or the bank doesn’t reduce the interest rate just because you had a tough week… discipline is, therefore, doing the boring but essential tasks:

• Sticking to your budget,
• paying extra when possible, and
• saying no to unplanned spending.

b. Consistency

Small, consistent efforts beat occasional intensity. A single hard ride won’t make you fit; a single month of paying extra won’t fix your finances. Keep at it (even if you start with R200 extra), month after month.

c. Your Riding (/ Support) Buddy No cyclist tackles a tough ride completely alone. A “riding buddy” keeps you motivated, grounded, and moving forward – especially when your legs are burning, and your mind wants to quit.

The same applies to getting out of debt. Whether it’s a friend, spouse, family member, or trusted financial professional, having someone in your corner makes the journey lighter and more manageable. Share your situation with someone who can support and uplift you. When you feel overwhelmed or discouraged, they remind you why you started, help you stay focused, and encourage you to keep going – one foot in front of the other.

3.     The Starting Line – Face the Facts

a. JittersFacing debt can feel overwhelming, perhaps even a bit messy, just like lining up for a race. But the nerves aren’t warning you, they’re proof you’re taking it seriously. So, trust in yourself because your planning shows commitment, and commitment proves that you are capable of taking on (and pushing through) the challenge ahead.

b. First Pedal StrokesThe first steps aren’t always easy. Start steady and pace yourself. Trying to “fix everything in one go” leads to burnout. Realising that you are in this for the long haul with small, consistent steps will see you through.

4.     The Downhills – No goody two-shoes intended

The best part about going uphill is knowing that downhills are waiting on the other side. But you must stay vigilant during your recovery stages to, again, take on each climb toward financial control. Resist the urge to spend good “downhill months immediately” – bonuses, fewer expenses, or extra income and rather use these good months (“builddowns”) as momentum to accelerate your plan.

5.     The Climbs – A reflection from cycling to debt management expertise

a. Short Steep ClimbsHill climbs are the worst – short, sharp, and rude.  Be prepared while dealing with your debt that unexpected expenses may arise: new tyres needed, kids’ school trips, or doctor visits. Try to build small buffers into your budget and handle those “miscellaneous payments” without derailing your plan.

b. Long Dragging Climbs

Most debt repayments may feel slow and tedious (you’ve cut what you can, you’re paying consistently, and you’re doing everything right). This is where perseverance counts. Progress may seem invisible, but every payment, every month, moves you closer to the finish line (out of debt). One more pedal, one more push – keep on keeping on because the grind is what separates you from “I tried” to “I finished.”

c. Rocky Technical Sections

In cycling, you don’t just fly into a rocky technical section and hope for the best. You slow down, assess the terrain, and carefully choose the best line to get through without crashing.

The same applies to complex financial decisions, which require extra attention:

• choosing the right debt management solution (like debt review or counselling),
• negotiating with creditors,
• legal processes and paperwork (not to mention understanding what you’re signing).

Advice matters. Technical sections can punish sloppy decisions, and one wrong move can cost you months – sometimes even years. The right coach or guidance helps you steer safely to avoid unnecessary setbacks, so get the expert help you require.

6.     Dealing with “Water Crossings”

Sometimes you can’t avoid getting your shoes wet, those messy hardship periods (losing income, divorce, illness, or retrenchment). The goal is to keep on moving (take a look at your credit life (linked) insurance or get guidance from a professional), momentum matters. Ensure you adjust your plan and don’t come to a complete stop.

7.     Finding Your Rhythm

Finding a rhythm (no impulse-buying, regular spending tracking or paying your debt) makes repayment feel natural.

8.     Nutrition and Hydration

Fuelling your debt management plan matters with proper cash flow, budgeting, an added emergency fund, and structure (no emotional purchases).

You don’t “wing” a 120km race, and you don’t “wing” a getting-out-of-debt plan either. Like cycling, neglecting preparation leads to setbacks.

9.     The Scenery

Getting out of debt is tough, so celebrate the small wins and don’t forget to look up and take in the view along the way (you’ve come so far):

The first month without borrowing.The first account paid off.The first time you say “no” to unnecessary buys.The first time feeling hopeful again. 

These "scenery moments" keep you motivated and remind you why your journey matters.

10.  The Finish

Crossing the finish line changes you. It’s more than relief and accomplishment – it’s identity. You have emerged stronger, more disciplined, and entirely capable. Fixing your debt situation is the same: commit, plan, and execute consistently. One pedal stroke (aka payment) at a time until it is done.

In the end, the real victory isn’t just being debt-free; it’s proving to yourself that you can handle any climb ahead.