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Q&A

If you have questions about this change, you're in the right place. Our editors, experts, and community of change optimists have answers!

shanekins

Question:Do I need to create a master list of all my debt before starting a plan?

I am just starting out with a debt repayment plan and need to begin somewhere-is it necessary to create a master list.

Asked by shanekins on 8/24/08 5 Answers»
rivqah83

Answer:

I am doing the same thing, and what I did is I made a file and put a piece of recent mail from each debtor in its own slot so that way I would know how much I owe, and I could get rid of the mail I had been holding on to.

Answered by: rivqah83 on 9/2/08
TheHandOfChange

Answer:

Planning is good. However, I would not let the lack of a complete plan stop me from starting good habits. For example, stop using charge cards. If you need to buy something, use cash. If you don't have the cash, don't buy it. It's rough but it is a start.

You can make a servicable plan in a few hours, however, so there's no reason to not get to it immediately.

Answered by: TheHandOfChange on 8/29/08
VictoriaB

Answer:

Check out what some of the experts we've interviewed would say about that. Listen to the Change Nation interview with Brent Kessel or read what David Bach has to say.

Link

Answered by: VictoriaB on 8/25/08
beezilla

Answer:

Sorry, that should say "It contains a fantastic plan for not only getting out of debt but the steps to take to ensure it doesn't happen again."

Answered by: beezilla on 8/24/08
beezilla

Answer:

Shanekins, y es, this is your first step, you need to be aware of where you stand financially - what your balances are, interest rates, minimum payments. I recommend buying (or borrowing from the library) the book Debt Proof Living by Mary Hunt. It contains a fantastic plan for not going getting out of debt but the steps to take to ensure it doesn't happen again.

Answered by: beezilla on 8/24/08
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