If you’ve got a long journey ahead of you, a roadmap that tracks your progress can offer support and encouragement.
“You get a lot of little dopamine shots ticking off those little milestones or those little things along the way, and that really keeps the motivation going,” says Katharine Iesiev, owner of She Minds Money, a Massachusetts-based financial therapy service. .
Yesiev favors creating something tangible that you can print and view often at home.
Track your progress in several ways
The Sixons have taken to the internet for debt management solutions. As you explore your options, think about what will be the most motivating for you.
Sixon started out with a spreadsheet to track all lenders, balances, and paid debts. A spreadsheet can be as simple or as elaborate as needed. You can use it to record each payment to each lender or to update balances after you make a payment. A key benefit is that it can keep debt and information organized. It also pairs well with other tracking systems.
Printable for daily viewing
The Sixons also reviewed online templates to make it easier to check debt goals. They chose a thermometer for their refrigerator and then moved it to the front door as a daily reminder to stay true to their goal. With each monthly check-in, they would rate their progress and color the thermometer, each paying 10% of their debt.