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Start a Budget

To begin your journey toward financial security, making a budget may seem like an obvious first step - but it can be hard to know where to start. Below are a few easy guidelines to get your budget plan going!

1. Calculate exactly how much you're spending each month.
2. Determine your income after tax.
3. Set goals for paying off debt.
4. Record spending and track progress.
5. Be realistic.

Click here for a free downloadable Budget Tool.


Pay Off All Debt Using "Snowball Method"

This method is great for those of us who have multiple debts to pay off. For example, multiple credit cards, student loans, car loans etc.

The first step in this process is to list out all of your debts and to organize them by the dollar amount owed, smallest to largest. Don't worry about interest rates unless two debts have similar payoff amounts, then you’ll list the one with the highest interest rate first. You will start off with your smallest debts by paying as much as you can each month while making minimum payments on all of your other debts. When you pay off your smallest debt, you will then roll that money into your next one, and so forth. Thus creating the “snowball effect.”

Before you know it, you're debt-free!

Click here for a free downloadable "Snowball Method" Debt Tool

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