Money Tip #1 – Debt Erasers

Money Tip #1 – Debt Erasers

No matter where you are in life, chances are you wish you were closer to your financial goals than you currently are. Whether it’s saving more money, paying off debt, or getting your spending under control, all of us want to be further along on our financial journey than we currently are. Even if you have been doing all the right things, there are probably some things that you might not have thought of that could help you get over the next hump financially.

I’ve compiled an ever growing list of Money Tips, that will help you achieve you financial goals quicker, and hopefully with less stress than before. These simple tips will most likely only take you short amount of time, but have the potential to save you a big chunk of change. Of course, not all these tips will apply to you, but I’m willing to bet the majority of them will. If a certain tip isn’t something that could help you, I’m sure it could help someone else in your life. Feel free to share any of these tips with your friends and family.

Without further adieu, Money Tip #1

 

Create a Visual Reminder of Your Debt

 

Debt, ugh, I hate debt. I’m sure you feel the same way. Unfortunately, most of us probably have some form or another. Whether it’s a mortgage, student loans, auto loans, or various kinds of credit cards, it is a burden. In fact, the latest statistics tell us that the average American spends about 34.5% of their income sending debt payments to creditors! 34.5%!!

Even though paying off debt is on the top of everyone’s financial goals list, it gets put off for other “more important” things. Of course, at the end of the month, we are frustrated that we have made no more progress on our debt. Out of sight, out of mind.

That’s why I feel it is very important to keep our debts in front of us. If we can see a visual reminder of debt everyday, we have a better chance to making progress on our debt. The more progress one makes on their debt, means they are that much closer to financial freedom.

So how can we make a visual reminder of our debt? Where do we begin?

There are many ideas out there as to how to create something visual to display and track our debts. A simple Google search will help you come up with some ideas on your own. I’ve seen credit card statements taped to bathroom mirrors, excel spreadsheets detailing debt payoff dates, paper chains that become shorter as you pay off debt, smart phone apps, etc.

We have created a resource here at Financial Security Management, that has personally helped me pay off loads of debt. We call them Debt Erasers, and you can check them out here.

Debt Erasers help you visually track your debt pay off progress. These simple sheets can be printed out and hung up in your office, bedroom, bathroom, or even on your fridge. They serve as a daily reminder for where you are in your debt journey, and how far you are from being debt free.

We have made a variety of Debt Erasers available, and they are all free for you to use and share with others. Just click the link here, and check out the variety of Debt Erasers that are available to you free of charge. If you can’t find a Debt Eraser that fits your debt situation, please let us know and we will do our best to create one for your specific debt.

Good luck on your debt freedom journey!  We would love to see how you are progressing toward your debt free date. Show us how you are using your Debt Erasers in the comments below, or on our Facebook page.

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