![]() It is so important to sit down every month and make a plan for those 30 / 31 days! If you are really committed to becoming debt free, you’ll end up loving planning day. I love watching that balance decrease! It is such an amazing feeling, to finally write PAID across our student loan balances! Every-time you make a payment – whether it is a regular monthly payment OR an extra payment write down the date and amount, along with the balance. One of my favorite pages! Pick your top 6 debts (That you listed already on your Debt Priority List). So you’ll get some “wins” under your belt quickly to keep up the momentum. ![]() Most people recommend you paying your debt off from SMALLEST BALANCE to the LARGEST BALANCE.You can go to and input all of your debt information to determine your Estimated Payoff Date.Make sure you take the time to locate the interest rate and your minimum payments. ![]() Once you have them all, determine your debt payoff priority and get to listing them on this form. On a blank piece of paper list all of your Debts, along with their total balance! *don’t get sick! You can do this! So, when the next Irregular Income comes in, you’d pick right up on Priority # 3 (Trip the fair) until that is fully funded, and then continue down the list. You’d be able to fully fund the New tires column, as well as the Extra Car Payment and $100 of the Fair Item. You received $1,500 in Irregular Income.Priority #2: Car Payment Extra – $1,000.When you get an “ Irregular Income” Put that amount in the Income Amount column and go as far down the list as possible based on the income.Hop on over to the Budgeted column, and go down the list and write how much you need for each item.For example, Priority #3 is to put an additional 1,000 on a car payment. I am scattering debt payment amounts on this list.Since this is a workbook to get you debt free- I recommend that you list debts you want to eliminate! Do you know you’ll need tires for your car next season? Would you love to splurge on a special gift for someone in your family? list it in order of priority on this form. Sit down and make a priority list of items/debts you want to tackle. ![]() I use the payment tracker as a way to double check that the bills were paid that month and have cleared our account. This way we are never ever late – and I know what bills get paid when – and the exact amount that comes out of our bank account twice a month. So I called our bill companies and had the bills that get paid with the first paycheck of the month due on the 16th The rest get paid with the second paycheck and those are due on the 28th. He is guaranteed a paycheck by the 15th of every month. I know that Scott is paid every two weeks. It is so much easier to budget and plan out in two-week chunks than it is a full month at a time. Once I started breaking our bills into two groups (Beginning and middle of the month) our finances started to take off in the right direction. Your percentage value would be 150 / 1000 =. Say you bring home 1,000 dollars a month (net take-home pay) and your food budget totals $150.00 a month. Simply take your total budget (for each category) and divide it by your monthly take-home pay. “Everyone thinks they are going to get out of debt” You can actually be one of those people! Do it for yourself, and your family! Take your time! Really analyze your budget – figure out what you can cut out and DO IT. Yes, you need all of them to be truly successful, but if you keep spending more than you make, you will never achieve the Debt Free lifestyle! These two pages can make or break you this year. Since we are both on there this year, I color coated us. This year I am going to be adding a few of my “paydays’ as well, and that will be exciting to see! Last year I only marked Scott’s paychecks. If you were here last year and followed through with the 2015 version, you would have saved a minimum of 1,300 with my year of savings! If you did not stick to it (or are new to this workbook) this is your clean slate – you absolutely CAN do this! If you succeed last year, then congratulations!! Pat yourself on the back, and keep going!! We start with the year of savings and our paycheck schedules. This year’s workbook has the same great content as the previous years- but with an updated look, and a few tweaks that will make it even better than before! Year of Saving & Paycheck Schedule This is going to be a pretty intensive post – taking you through the entire workbook. Happy Day, Everyone!! I have decided to release the 2016 Soon-To-Be Debt Free Workbook, a little early! I am absolutely loving the changes I have made to this version, and I hope that you will too!
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