Step #1 – Facing the harsh reality (the big picture)
This one is NOT meant to be fun or really even encouraging. It is meant to open our eyes and set our resolve to find balance!
Set your sheet up (computer or hard copy) by listing your debtors down the left hand side. For now, we are only looking at things you pay monthly OUTSIDE of normal household expenses. By this, I mean car loans, credit card payments, etc. Things that have a total balance due. BUT leave out the house at this point. Check your statements to see what the payoff amount is and note that to the right of each debtor. Total that column. THIS IS YOUR STARTING POINT! This is what you must pay off to become ‘debt free’. Now that your eyes are opened, set that aside and don’t think too much about it for now. You have likely found your motivator to move forward!
Reflect – While you were working on this step, did you find you were missing a tool? Did you discover it took HOURS to find your statements? Perhaps you need an ‘inbox’ for your SPOT or a special basket for incoming mail. Take time to pull in and implement that tool.
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