I know I’m more comfortable when I can see things laid out.
I get a better understanding of how they relate to one another and it just provides me with a lot more information than a list or a spreadsheet. (I still love a good spreadsheet though…)
Last year I had to replace my car which exploded on the 401, and this year I replaced my roof.
Which means that I went from carrying zero debt (except for my mortgage), to something in the neighbourhood of 10 grand.
Debt Repayment Priority ONE
I’m not a big fan of debt. I viscerally feel the owing and it irks me until it’s done.
So I made a plan. A certain amount every 2 weeks plus a lump sum at the end of the month.
That’s a great plan, but what I needed was a way to visualize it.
I needed to see it laid out and understand it.
So I made a visual.
So far I haven’t missed a payment – even during this busy, extra-expense Christmas time.
I’m still on track.
There were a couple times where I was tempted to use the payment for something else… but I couldn’t. I hated the thought of not crossing off a box and getting behind on my visual guide.
It wasn’t an option.
The visuals keep me connected to my goal.
The visuals keep me on track because they act as a reminder that I’m doing well. I’m executing my plan and I’m all caught up.
To miss a box and get out of step would be a constant reminder that I’d messed with the plan and was out of step.
It works for me. It works well for me.
When this debt is paid off – I’m looking at my mortgage with this same strategy.
Test Out What Works for YOU
Look at what works for you visually. Make boards or calendars or draw visuals – whatever it is that helps you keep connected to your goal and FOLLOW THROUGH. That’s the important part.
You may have to try several incarnations of your visual aid to hit on one that works for you.
You’ll know it’s working because you won’t be able to go against the plan without some serious soul searching and angst.
That’s a plan you’re committed to – and visuals help.
If you’re interested in more visual planning tools – check out The Almanac.