3. Plan your debt elimination (tracker+timeline)

Now for the serious part of the work.

The Debt Eliminator is a sheet for you to document all of your debt. Order it by highest interest or smallest balance. The choice is yours. Then assign a timeline to each creditor.

The Debt Payment Tracker should be used for each creditor you have. Start with the balance and then each time you make a payment, document it on the sheet.

There are some very common questions that can really only be answered with calculations. Here are some useful debt calculators answer the following:

How long will it take to pay off my credit card(s)?

Should I consolidate my personal debt into a new loan?

Should I pay off debt or invest?