Finding New and Creative Ways to Make and Save Money Every Day

Tuesday, November 15, 2011

Debt Elimination Calendar

I love this calendar! I haven't written a budget in quite some time, but I'm going to use this as a template. I got it from a publication from the LDS church called "One For the Money." Take a look, it's a pretty logical and helpful way to crawl out of your debt. The way it works is thus: to the far left are the debts you intend to pay off first (these should be the most pressing debts such as debts with high interest rates). In each column is the amount of money you will pay each month to each bill. After one bill is paid, you take the money you would have used for that expense and pay it toward the second most pressing debt until finally your debt is gone. Good luck!

Debt-Elimination Calendar
Credit card Dept. Store Dentist Piano loan Auto loan
March 110 70 50 75 235
April 110 70 50 75 235
May 110 70 50 75 235
June 110 70 50 75 235
July 180 50 75 235
August 180 50 75 235
Sept. 180 50 75 235
Oct. 230 75 235
Nov. 230 75 235
Dec. 305 235
Jan. 305 235
Feb. 540

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