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DHT_Tools Overview
6
To Get Yourself Free From Debt NOW!
How to Use
The Journey of a Thousand Miles Begins With a Single Step.
Lao Tzu
Use These Tools to Organize your Finances
Congratulations! You've just taken your first step.
Now; let's start by getting organized shall we?
The Budget Planner
Enter all your income and spend to view automated summaries and see exactly where your money is going.
Income
List all your income from every source and how regularly you receive it.
Income
Spend
List all your expenditure for everything and how regularly you need to pay it, this information with be summarized for you by the categories that you enter in the description boxes.
Spend
Summary
All your income and expenditure is now summarized by category, showing you exactly where your money is going and how much you can spare to pay down your debts every month.
Summary
The Debt Tracker
This detailed spreadsheet gives you a comprehensive view of all your debt and credit in one place.
If you fill in the figures directly on the sheet the summary boxes will calculate all your balances for you.
(Printable versions also available)
Credit Cards & Loans
Add Your Debts
List
Clearly list all your cards by showing:
- The description, e.g. American Express
- The outstanding balance
- The minimum payment amount
- The annual interest on the card (you might have to dig around on the back of your statement for this)
- Your monthly interest fee
- The promotional rate end date (if it's relevant)
Mortgage
Next add in any mortgages and / or secured loans. This will really help when you are considering your options and if a re-mortgage would be a possible solution for you.
If your mortgage product is due to expire or has already run onto a standard variable rate, this might be a good opportunity to slash some costs too.
Next, list all your positive balances including any assets. If you have savings or assets that are EARNING less than your debt is COSTING, you might want to consider using them to pay off your debts.
Add Your Assets
Summary
Assess your Options
Look at your interest rates column to decide which card or loan you're going to pay down first. I would always recommend the highest rate first (avalanche method) but if you want to go for the smallest balance (Snowball) read my case study first to see what this might cost you.
Interest Rates
Balance of Assets
The balance of assets vs liabilities shows you how much you would have if you sold all your assets and used all your savings.
The total balance figure however excludes your property as you can't readily access that cash.
What now?
Make a Plan
Now you have a good picture of your overall debt and you can see how much interest you are paying out every month (shocking isn't it?).
You can also see which debts are costing you the most and therefore where you are best to throw any spare cash you identified in the budget planner.
Well done you for getting organized!!
Reminders
Checklists & Reminders
It can't hurt to have a few reminders about the place to help you stay on track.
Print off these handy sheets for your noticeboard or fridge.
Simplified 8 point checklist to keep you on track.
Checklist
Renewals
Do you know when you mortgage product is up or when your phone or utility contract is due to end? Or maybe when that subscription that you signed up for ages ago is due for the annual subscription charge? No? Your not alone!
Letting these things run on could cost you way more than it needs to or you might end up paying for another year of something you never used anyway.
List your reminders by month in the printable reminder sheet and put it somewhere that you will see it!!
Renewals
The Action Plan
The 31 Point
Action Plan
Need a more comprehensive list of the steps you need to take to really get your money sorted out?
Take a look at our FREE 31 point checklist which highlights everything you need to be doing regardless of where you are on your journey; from checking your credit score to debt consolidation, it's all here.
Go to
Debt Help Tools.com
Now to Get Started Today!
Make Your Move !!
Still on the fence? Think about how much interest are you paying everyday that you don't take action.......
Ready Now??