Going Back To An Old Fashioned Way Of Tracking Debt
Tracking debt in itself was always an issue for me, I didn’t want to know, I didn’t want to see it let alone think and talk about it.
I was the person who wouldn’t open mail, who would ignore phone calls, it was all overwhelming to me.
Back in 2019 when I first started to seriously tackle my debt, I sat and opened every letter, inputted all the numbers onto a spreadsheet and did the same with what I found on my credit file, I used the free options like Clear Score and Credit Karma to obtain the details.
I stuck to the spreadsheet method for years, at the end of the month i’d input the interest then my debt repayments and what the new debt figure was for the start of the following month, it was a working method as, as it stands I’ve cleared over £82,000 of debt and the spreadsheet has changed from -£155,000 (in total) to -£73,000 but there wasn’t any emotion involved.
It was just numbers and I really liked that because debt can really take a toll if you let emotion get in the way, with debt comes guilt, comes regret, it’s a very negative thing to have so just focussing on the numbers for me really helped.
This time around I’ve got myself a little whiteboard, everything I do in business is first written down, I’m a list guy, I like to make to-do lists, I plan with a pen and paper and when doing that I really get into it so I thought I’d do the same with my debt, not to get emotional but to write those numbers down.
Sounds silly right, what’s the different between typing a number and hand writing a number, probably not a lot to most but to me theres a psychological element involved, writing down a number then rubbing it out to write down a lower number gives me a little kick, a little moment of satisfaction.
So for me, I’m adopting the old fashioned whiteboard method for debt tracking, stay around for monthly whiteboard boring videos on my YouTube channel.
https://www.youtube.com/watch?v=5Z-e8UjYElA
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