Debt Elimination Plan - CreditShout

5 Simple Steps To Be Debt FREE

TO EDIT, MAKE A COPY OF THIS SHEET.

Sign-In To Google account> Go To File > Make A Copy > Select Where You Would Like To Save file.

Make sure you have Eliminated High-Interest Debt shown here:

https://creditshout.com/personal-loans/3-steps-to-pay-off-credit-card-debt/?utm_source=elimination-plan-sheet

Get Clear On Your Finances - Income

Instructions: Go to your bank statement check your income last month, 2 months ago, and 3 months ago.

This will get you a clear picture of how much income you bring in month after month.

Instructions: Get last month bank & credit card statements and enter your total monthly expenses.

Try to add up all expenses for each month. If you need help adding up all your expenses we added a

budget template on the Google sheet tab below.

If your expenses are more than your Income.

You will have to either increase your income or lower your expenses or both.

You will never be debt free if you spend more than what you make.

My recommendation here is eliminate as many expenses as you can.

The more income you free-up, the faster you can be debt free.

Instructions: Enter the details of all your debt on the areas below.

This will make it clear how much you owe and which debt to start paying off first.

To find this information go to your credit card/loan statements.

When would you like to be debt free? 6 Months, 12 Months, 18 months, 24 Months?

Feel free to select different number of months to find the ideal best number for your sittuation.

If you pay the total amount below you will be debt free in that time!

Below you will see the total payment needed to be debt Free.

Have you eliminated your High-Interest Debt?

If not, make sure you follow the steps here:

https://creditshout.com/personal-loans/3-steps-to-pay-off-credit-card-debt/?utm_source=elimination-plan-sheet