The first step in getting out of debt is to create a budget. Once you have given every dollar you bring in a job to do, then you will be able to make a plan to get out of debt. Really, a budget gives me peace of mind. I know how much money is coming in and going out each month. There is no guessing about what is going to get paid.
I’ve created an Excel Spreadsheet for you that you can use to see where you spend your money, how much money you can put towards paying down your debt, and ultimately you’ll have a master financial plan. All calculations are automatically done for you and you can edit the spreadsheet as necessary.
It’s totally free and you can download our budget spreadsheet here. Let me know if you have any suggestions to make it even more user friendly.