Paying off debt is a huge decision. You may be like us and wonder if it is possible to really be debt free. You might be starting the baby steps and wonder if you really can make it to baby step 6. I know we thought that.
We started the baby steps in 2008 and had no clue how long it would take us to make it to baby step 7. We had an average income. We owed about $20,000 in debt (not including our mortgage).
To be honest, when we landed on baby step 6, I was tempted to quit. I mean, who pays off the mortgage?
But we had big goals. We dove in and stayed focused. Six years later, we paid off our $140,000 mortgage.
It was great.
Maybe you are looking to become debt free soon? We have created many FREE debt free printables to help you reach your goals!
We know from experience that becoming debt free takes a lot of grit and hard work. You have to remind yourself of your goal each and every day! This is why we love visual trackers.
We created this debt free mortgage tracker in with YOU in mind. Print one, tape it up in your home or office so you can see your goal each and every day!
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How to use debt trackers to pay off your mortgage
To print this tracker and use it to pay off your home loan, you’ll need to gather up the following things.
HOW TO USE A DEBT TRACKING WORKSHEET TO PAY OFF YOUR MORTGAGE
Paying off your mortgage is a BIG commitment. It can take years. Staying focused is the key. Remember WHY you started doing this in the first place!
Depending on how large your mortgage is, you may want to print off multiple sheets and track your progress in chunks. For example, if you mortgage is $300,000. You may print out 3 different charts and track your pay off by $100,000.
Or you may want to use one sheet to track it all. It really is memorable to track and see how much progress you are making when tackling your mortgage. Celebrate each milestone you make!
It is really up to you! Don’t be afraid to mix it up and do what works for you. Color in your chart as you go and celebrate each milestone.
I will say this, the last $50,000 went fast for us. As soon as we got under $50,000, we were so motivated to get it paid off. Decide what your breaking point will be and go for that number!!
You can do it! We are excited for you!
TIPS FOR STAYING FOCUSED WHILE PAYING OFF YOUR MORTGAGE
Staying focused is key to getting through the baby steps. We stayed focused by setting goals and assigning dates of when we would accomplish each goal. Of course, it didn’t always to according to plan, but we kept moving forward.
We are big believers in keeping your goals and dreams front in center and talking about them often. This is why we LOVE making free trackers!
We recommend the baby steps for anyone looking to get control of there financial situation. Join a Financial Peace University Class near you. Surround yourself with people who support your journey. It is so important.
We use our cash envelope wallet to stay on track. We shop at Aldi to keep our food budget under control. In fact, we have many Aldi resources here to help you!
You can do it! Pay off that mortgage. You will not regret it. I promise!
Print off our FREE tracker, decide how long it will take you, and track your progress!
Grab your tracker below. AND let us know your progress! We’d love to cheer you on!