One tactic is to pay minimums on everything. Make a plan to attack the smallest balance with all the extra cash you can muster up. Doing this will give you the momentum to continue instead of trying to tackle the largest debt first. When that account is paid off, apply the available funds toward the next account balance. Keep doing this until the there are no more balances. And as much as I hate saying it, you might as well cut up those credit cards anyway because in order to work toward a debt free existence, we can't have any credit cards to fall back on (I'll allow you to keep one major credit card for emergencies.).
A great idea is to create a spreadsheet that tallies monthly spending. If you are really good with Excel, you might be able to create a spreadsheet that links monthly spending for the entire year. This would allow you to see in January what your budget looks like in December! Now that's planning.
Say you're not so good with Microsoft Excel, there are plenty of programs in your local office store that will assist you with this task. Also, there is plenty of personal budgeting and planning software available online that will assist you with money management, as well. Some of these online software programs and websites are free to use! Planning for less spending is the only way we are going to ultimately eliminate debt. We must stop living paycheck to paycheck. And at all costs, stick to the budget…it's the law!
