How Do You Write A Debt Free Plan?
Many Americans saddled with credit card debt, student loans and high mortgages long to be debt free. To become debt free, it is important to have a plan, and to work steadily toward the goal. Keep yourself motivated as you strive to become debt free. Here’s how to work on your debt free plan. List your debts in order of smallest to largest, unless one has an interest rate that is much higher than the others, in which case, list it first. This is the order in which you will work to kill your debts, paying only minimums on the others while you put any extra money toward the first debt on your list. Take stock of all that you owe so you have a clear picture of what needs to be done to be debt free. Make a budget to live on while you work to become debt free. Begin with your mortgage, food, energy bills and transportation. Add in your debts and a small amount of extras, such as spending money and household needs. Determine how much extra money you can put to the debts above the minimum pay
