Thursday, 22 May 2014

Debt Repayment Chain

I don't often talk about money and debt on my blog. It's not that I dislike talking about it, but I don't really have much to say. I do love the way J and I budget (which you can read about here) and we're making payments on our debts every month. I'm not a financial expert but our system works for us.

 

A little while ago I was browsing Pinterest and came across the brilliant idea of using a debt chain to stay motivated from The Drumgoole Family's Blog. Those of you who know me know I love a good visual (Remember my weight loss jars?) so I decided to make my own version.


To make my chains I cut strips of card stock to 3/4 inch x 5.5 inches and wrote amounts in $500 increments. If I were doing this again, I'd make my strips longer because they were a pain to staple. I used a different colour paper for each debt (not including car and mortgage). I kept each debt on a separate chain because we pay something on each debt every month and I don't keep a running total of it all added together. I also made each $5000 a different colour than the rest of the chain so it would stand out.


Once they were assembled I hung them with the curtains in my office/craft room. Not only do they look cute but they serve a great reminder of our goal. 

Shared at: Friday Pin Fest, My Pintervention, A Conquered Mess, Glitter Glue & Paint, The Happy Scraps, Natasha in Oz, Diana Rambles, Lines Across, Kathe With An E, A Stroll Thru Life, The Crafty Blog Stalker, Fluster Buster, Home Coming, Glitter, Glue & Paint, A Creative Princess, Sugar Bee Crafts, Life on Lakeshore Drive, Serenity You

6 comments:

  1. Thank you for stopping by The Weekend Social over at Kitchen Dreaming, we hope to see you again next week.

    Dina@KitchenDreaming

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  2. We could use something like us. We're on the road to a debt free life, getting their payment by payment! Any thing to keep us motivated helps.

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  3. Thank you for linking up to The Creative Exchange. I am featuring you today on my blog. This is such a clever idea to keep you motivated.

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  4. What a clever idea! I really need to do something like this. Thanks for sharing at Project Pin-it!

    xoxo
    Denyse

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  5. Thanks for linking up to the Say G’day Saturday linky party. I’ve just pinned your post! Hope you can say g’day again tomorrow!

    Best wishes,
    Natasha in Oz

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  6. Thanks so much for joining Fluster's #CreativeMuster party this week. It was a lot of fun to co-host. Hugs, Holly

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