Step 1: Work out how much money you owe
Working out your expenses is critical to you becoming debt free and getting on top of your finances. This takes a lot of organization on your behalf and it is crucial to be organized.
This step is important so you don’t get a bad credit score from missing payments.
Make a pile of all your expenses and arrange them in order of when the payments are due.
Pay all the bills which are due within the next week – the last thing you need right now is overdue bills. If you find you cannot pay certain bills, call up the company and ask them to set up a payment plan
Part of this step is getting rid of any joint debt which you may still have with your partner. It is really important to get rid of your name from any of the joint debt agreements you may have, as if your ex fails to make a payment, you are equally liable, even if you have a divorce statement.
Click here to read the next step of Five Steps To Help You Manage Your Money – Step 2