Monthly Take Home Income: $4000

Below is an example of how to allocate your income so you can pay cash for all of your expenses.

Total Expenses & Debt Payments: $4259

TOTAL DEBT: $168,200

Balances Left On All Debt

Use The Debt Snowball Method To Eliminate Debt

The debt snowball method is a debt reduction strategy where you pay off debts in order of smallest to largest, gaining momentum as each balance is paid off. When the smallest debt is paid in full, you roll the money you were paying on that debt into the next smallest balance.

It looks something like this:

Step 1: List your debts from smallest to largest.

Step 2: Make minimum payments on all your debts except the smallest.

Step 3: Pay as much as possible on your smallest debt.

Step 4: Repeat until each debt is paid in full.