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Where's my Debt?!?!

Hopefully I will never have to say that out of fear. I've devised the coolest system known to man. I wanted to wait and test out my system before I blogged about it and I've got to admit its worked out better than I can even begin to tell you about.

First step, visit and get your Debt Snowball going. Questions about this, see my second or third post to learn about how to use this helpful website.

Second step is to set a calendar for repayment on each snowball step to each debtor. This is going to be your financial plan until you are debt free.

Third step is to get a box of envelopes. One envelope for each debt you plan on repaying until all your debt is paid back. An optional step is to include a letter inside your envelope explaining your anticipated payment plan with dates and amounts, the final envelope should request a receipt of full and complete payoff.

Fourth step is to neatly organize the envelopes by date in a shoebox or other box.

Do you know what you have now? A box. Full of your debt. Its something you can see, feel, smell and once you throw your payment (in the form of check, cashier's check or moneyorder) something you can lick and mail. Its your debt and you are now responsible for mailing out each and every single envelope until you are debt-free. What does this mean? Well your debt is now in physical form. You can see the envelopes disappearing over time and it means significantly more to you. You can't avoid something that you are physically responsible. Having your debt scattered over little bits of paper, in your mind or in a filing cabinet keeps it out of sight and out of mind. A box full of your debt strategically placed on your dresser, kitchen counter or next to the front door is something you'll have to interact with.

My debt is in an old fedex box. I put christmas paper lining the bottom and my debt repayment calendar taped to the front. Its on my dresser in my bedroom. I know where it is, I have a better understanding of what my debt situation is like and I couldn't be more happier! Sending the first envelope out was terrifying, but you know I'm getting better. And the envelopes are disappearing! AND I CAN SEE IT HAPPEN!!!

So, I ask you... Where's your debt?