What is The Debt Ladder

Photo by Khimish Sharma on

Everything on Broke to Blessing is essentially representative of my own story.

When we were in debt, and decided we needed to get out of debt we tried something different then the normal snowball method. This is what we call the Debt Ladder.

The Debt Ladder is actually pretty simple. You list debts starting at the bottom as the smallest debt. and you work your way up to the top of the ladder. What makes the ladder unique though is that it’s got built in incentives to keep you encouraged as you climb it.

You may have $80,000 with a $35,000 income for a family. That’s grueling. Eating on the old rice and beans, beans and rice lifestyle like that can take 4 or 5 years. Paying off debt can have incentives with it to keep you encouraged. To keep you hyped. The Debt Ladder has found a way to pay off your debts and to enjoy life while doing it.

What we did when we were paying off our debts was we listed our debts smallest to largest and paid them off one at a time. But we also realized we needed consistent encouragement. So we needed to bring in our cheerleaders. But also, we realized the value of incentives in our debt free journey. We needed to take time to celebrate different goals.

As we paid off debts we celebrated with different forms of fun for the family. We told the kids what we were doing and had them cheer for the next prize. It kept us encouraged and focused to achieve our goals. We had pizza parties. Hotel parties. Bought stuff. And eventually a family vacation that was in celebration of being debt free.

I have made the proven “Debt Ladder” as a free resource for people to use no matter their situation. Single. Married. Young. Old. No matter who you are this is a resource that can help you build your road map towards freedom from debt.

Feel free to click on the link to start building your debt ladder.

This is apart of ladder finances. You start off by building your debt ladder. Next you’ll build your ladder’s for different goals you have. But first, let’s climb this ladder and be done with debt!

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