★ Money Challenge #11: Picture Your Debt (Literally)
This is part of our Weekly Money Challenge series.
Be sure to check off any you’ve missed!
Debt snowball? BORING! (Awesome, but boring.) Let’s go deep and pull on some creativity to handle your debts faster.
This week’s challenge: Find a way to *visually* track your debt progress!
Obviously there’s nothing wrong with using spreadsheets, but we are kicking it up a notch here to attack it with both sides of your brain this week.
Below you’ll find a handful of different ways people are tracking their progress and motivating themselves. Find one that works for you and then get started!
Okay, let’s get artsy…
Here’s mine from 9 months ago (and today right below!).
Ashley Barnett used this one to track paying off her house.
And another that I think came from Debt Free Charts:
Need more inspiration?
Check out some of these spots:
- Debt payoff printables from Pinterest
- Debt free charts from Debt Free Charts.com
- From Joseph Sangl: Item specific printables for debt and savings! (Cars, trucks, furniture, computers, vacation, braces!)
- Check out this great post from Montana Money Adventures about saving money using visual art and S.M.A.R.T. goals.
And please for the love of all that is holy, share your debt art with us over in the forums!
– Derek, Master of Challenges
PS: Curious to see how last week’s challenge went? Click here and scroll to the bottom.
(Photo cred up top: Map Your Progress)
Looks like we’ve got some artsy people over in the forums after all! Who said money nerds are all spreadsheets and no crayons?! ;)
I’m such a financial nerd that I completed this challenge years ago! This is my mortgage balance chart. What’s not shown is the savings account that I have set aside to pay it off in one well swoop in a few years. The fact that over $50k is gone from the balance in under four years is thanks to the power of a 15 year mortgage. You can see from the wrinkled paper that it’s several years old. I’ve been thinking about coloring in my savings amount on this chart in a different color, so I can watch the two lines meet-thoughts? –ChiefMomOfficer
Not debt payoff, but I also have a chart right below this showing college savings progress for my two older boys. Both charts are inside a cabinet in my kitchen, so I’m constantly reminded of my goals. Every time I do a quarterly net worth update, I update these charts. The 13 year old is over halfway there, and the nine year old is 2/5 done. –ChiefMomOfficer