Kumiko Love Instagram – I have been debt-free since 2019 after paying off over $77,000 of debt.
I used the Debt Payment Plan worksheet inside of the Budget By Paycheck® Workbook during my entire debt-free journey, and here is why I like tracking my debt progress from month to month:
🤑 SHORT-TERM WINS: Seeing monthly progress provides small victories that keep you motivated.
🤑 BUDGET ADJUSTMENTS: If you find extra money in your budget or experience changes in income or expenses, you can allocate more towards debt repayment.
🤑 REGULAR CHECK-INS: Ensures that you are actively managing your debt and making consistent efforts to reduce it.
🤑 INTEREST ACCUMULATION: You can see how much interest you are paying and how reducing your principal faster can save you money on interest over time.
I always filled out my worksheet at the end of each month (or tracking period) after ALL payments were made and posted.
Do you currently track your debt progress? Did this video help? Let me know in the comments!
#DebtFreeJourney #FinancialFreedom #DebtFreeCommunity #MoneyManagement #DebtPayoff #PersonalFinance #BudgetingTips #FinancialGoals #SaveMoney #WealthBuilding #TheBudgetMom | Posted on 31/Jul/2024 01:41:07
