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48 | WINTER 2018 T here's a reason we talk about debt so much — the average household owes $137,063 (including mortgages), and that amount has increased by 11 percent over the past decade. Paying down debt saves both money and stress in the long run. We talked to per- sonal fi nance bloggers to learn their debt payoff secrets. Here are the strategies they swear by. Use rewards for short-term motivation The method: Chelsea Fagan, founder of The Financial Diet, treats herself "like a child" in some respects to keep herself on track — laying out work outfi ts the night before, packing her lunch for the offi ce and, when she was in debt, rewarding herself when she reaches diff er- ent payoff milestones. She said she knew little rewards would motivate. Do it yourself: Create a chart or list with all your debt amounts and their interest rates. Then, come up with diff erent payoff milestones and the rewards you'll get when you reach them. It's important to treat yourself in proportion to what you can aff ord and how much you paid off . An example of small, medium and large rewards could be a manicure, a new work outfi t and some sort of trip. Bloggers off er unique tips to pay off debt Convince yourself that every little bit helps The method: Tiff any Aliche, founder of The Budgetnista, used her "drip-drop method" — paying off little amounts at a time — to pay down about $35,000 in debt over three years. And she did this while mostly unemployed. How does it work? She didn't rely on a big lump sum. She resolved to put any unexpected money (money she didn't expect to receive or save) toward her debt, whether it was $5 or $500. Do it yourself: Remember that we're talking any unexpected money. If you had set aside $30 to buy a specifi c shirt, but it's unexpectedly on sale for $15, immediately transfer the unused $15 to your debt. The key is to transfer the money immediately so you don't absorb it and use it for some- thing else. Still set up your online bill pay to automatically withdraw the minimum payment from your account each month. Remember the "why" The method: Melanie Lockert, founder and author of Dear Debt, says that she started thinking of her payoff plan as a guaranteed return on her investment. Being in debt means paying interest every month whether you like it or not, so the more you pay off , the more money you're freeing up for the future. To stay moti- vated, Lockert created a secret Pinterest board with photos of all her post-debt life goals, including a trip to Italy, moving back to Los Angeles and working for herself. Do it yourself: Create your own vision board with post-debt goals. Look at them every day and check in with yourself to see what's standing in your way. Then, adjust for progress. Jean Chatzky is the Director of Education and Editor in Chief of SavvyMoney. She is a personal fi nance expert and best-selling author. To get your own fi nancial checkup with Savvy Money today, visit SavvyMoney.com/AACU. Written with Hayden Field. Financial Column