debt checklist

Calculate total amount of debt owed

Set a realistic budget to allocate funds towards debt repayment

Prioritize debts based on interest rates or amounts owed

Consider debt consolidation or refinancing options

Negotiate with creditors for lower interest rates or payment plans

Cut back on non-essential expenses to free up more money for debt repayment

Explore alternative sources of income to increase your debt repayment funds

Set up automatic payments to ensure you never miss a payment

Monitor your progress regularly and adjust your repayment plan as needed

Celebrate small victories along the way to stay motivated

Make minimum payments on all debts to avoid penalties

Consider increasing income through side hustles or part-time work

Cut expenses to free up more money for debt repayment

Monitor progress regularly and adjust repayment plan as needed

Prioritize high-interest debts first

Negotiate with creditors for lower interest rates or payment plans

Consider transferring balances to lower interest rate credit cards

Set up automatic payments to ensure bills are always paid on time

Seek financial counseling or debt management services for additional support

Contact a credit counselor for professional advice

Explore debt relief options such as debt settlement or bankruptcy

Seek support from friends and family for accountability

Stay motivated and focused on becoming debt-free