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You Dont Need Alot Of Money To Use A Finance Planner

There are many excellent companies around that can help people get out from under their debt but if you are the least bit wary about airing your dirty laundry you will be happy to know that you dont need alot of money to use a financial planner. In fact, in some instances, you do not need any money at all. You can start right now, today, to fix your finances so you can gain some control over the situation and not be struggling for the rest of your life.

First, do a search online for free money management software and download it to your computer. Next, figure out exactly where you are right now. It's not easy to see all the money you owe in one long list but it's essential that you take this first step. If you just try to keep your debt all in your head it can be way too easy to leave things out accidentally but when you have everything listed in black and white it is pretty much impossible for you to 'forget' anything. 

Now that you know that you dont need alot of money to use a financial planner and have found the one you want to use, start right now entering all of your information into the program and list out all of your debt. Include all credit card bills and/or lines of credit, loans, monthly payments, utilities, etc. Make sure that this list is complete and accurate. List the name of the creditor as well as the total amount due and your minimum monthly payment. Do not panic when you see the bottom line.  You already knew you were in debt that's why you are doing this now. 

Once you've got all your debt written down it's time to make out your budget.  Start by listing your monthly income. Then list out all of your monthly expenses. Use your debt list as a reference. Make sure to include things that you do not pay every single month such as quarterly payments, seasonal expenses, vet visits, etc. Estimate these things if you do not have a real number to use. 

Once you have a complete listing of all the money coming in and going out every month, now just subtract one from the other. Subtract your expenses from your income. If you ended up with a positive number, good for you, you are living within your means. Now you can just take what's left and apply it to one small outstanding bill so that you are putting more than just the minimum payment on that bill. Then, once that bill is paid in full, take all of that money and apply it to the next smallest bill. Keep doing this until you have all your debt paid off. 

If you ended up with a negative number you will have to make some tough cuts, or get a part-time job to bring in more income, so you can pay down your debt. See, you dont need alot of money to use a finance planner and with a little dedication and some time this is a simple, yet effective, method for becoming debt free.