Debt Management is vital to controling your cash flow. By paying off your debt, you can start using the debt payments to fund savings and give your self a strong foundation for your financial future. Use the form below to collect all the important metrics on your current debt to create a payoff strategy.
Pay minimums on all your debts that have the lowest interest rates.
Pick the smallest balance/highest interest rate balance and pay as much per month on it as you can. Do not ever use it again to charge anything!
Once that is paid off, go out to dinner and celebrate (but find a coupon to keep the cost low). Then use 50% of that payment to start your cash reserve savings. Apply the other half to your next debt balance. If, no when life knocks on your door during this process and says "20% more please", just pay your minimums and divert your excess debt payments and cash reserve savings to cover that unexpected expense. Then next month, go back to your plan. This is how you can usually avoid adding new charges to your credit cards.
Repeat this process until your debt has been assassinated. The only debt that makes sense is a mortgage balance. It is the only asset that is likely to appreciate in value as you pay interest on it's debt.