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Posts tagged with: debt thermometer

Credit Card Debt Chart

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Hi all, Happy Friday!

I submitted my final grades yesterday, today is our department’s holiday party, and next week I’ve got two totally open days on my schedule that I can use to catch up on some academic writing, household chores, holiday prep, etc. It’s always a fun time of year when classes end and it feels like the “real work” begins. Oh, academia. 🙂

Since, as you saw on my last post, I’m basically starting over with our credit card debt, I wanted to do something to help it stay really visual and to keep me motivated.

I’ve made homemade debt thermometers in the past (see here or here), but I wanted to try something a little different this time.

And somehow in my searching of the interwebs, I came across these totally nifty little debt trackers! Best part, it was totally free on the website (linked here), along with several other options (e.g., student loan, mortgage, debt free, etc.)

I just sat down today to actually fill in the numbers on the lines and discovered that there were exactly 25 long lines. Well whatdoyaknow? My current CC debt stands at $25,500 (see here). Coincidence that the lines match up exactly with our actual debt numbers? Who knows, but it was certainly motivating!

Admittedly, we’ve got a long way to go. We’ve re-dug this huge hole and feel like we’re at a start-over point. Instead of bringing our entire debt load into the picture, we’re really just going to focus on the credit cards for the time being. It will take some time, but we’re determined to get it done all over again.

What debt are you currently focused on eradicating?


New Debt Thermometers

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After completing our last debt thermometer (for the car loan – yay!!!) I decided to make some new debt thermometers.

Only one thing…. I like to keep our old debt thermometers because they’re motivating to look at. I had pulled them off the fridge to take a picture of them and they had been sitting on our kitchen table….and the girls destroyed them. Thought they were playing arts and crafts and basically tore them apart.

So I remade the old ones, too. Heh. Not quite the same, but I really like having that visual motivation and seeing how far we’ve come!

So here are the (new) old ones:

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The Auto Loan (left), I was able to re-use the back-paper, but the thermometer part had to be made anew after the old one was torn to pieces. The Wells Fargo card (right), I was able to re-use the original thermometer, but I had to remake the back-paper anew when the old one was torn apart. So at least on each of them I was able to retain a bit of the original piece.

And here are my New Thermometers:

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On the left I’ve targeted two of my mid-sized Navient student loans.

On the right, I’ve targeted a savings goal (the $10,000 for a house down payment) and the Navient thermometer is actually a conglomeration of 3 separate, smaller sized Navient loans. Separately they seemed too small to warrant a debt thermometer, but combined they’re still a decent sized chunk of debt.

I’ll be starting with the thermometers on the right (yellow thermometers on green paper), but it’s kind of fun to have the next thermometers lined up and ready to go when it comes time to target them.

Having the visual reminder has been such a great thing for me! I used to be nervous or embarrassed about them. Whenever we’d have people over I’d take them off our fridge and hide them. But for about the past year, I’ve always kept them up. I almost want friends to ask about them (so far no one has). Finances tend to be such a personal matter but after feeling so much success on our debt reduction journey I have a hard time shutting up about it! Even if friends don’t actually ask about the thermometers, I hope that people do notice them. I hope that maybe it sparks an interest in someone else; that maybe they think about making one of their own. This debt reduction journey road of ours is a long one, but it’s been 100% worth it!

Time to fill up some debt (and savings) thermometers!!!


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