Step 2: get to know your debt

Now that we’re saturated with financial knowledge, we need to get our puke buckets ready and face our debt load.

Before you can eliminate it, you need to know EXACTLY (to the PENNY) how much “it” is.

Adding up exactly what you owe may nauseate you to the point of dry heaving.


It is part of the healing process.

So cozy up with that bucket, grab something you can white knuckle, and start adding. (If single you may do this alone or with moral support. If in a money-sharing relationship, do this together. That way you can white knuckle each other’s hands.)

The Hubs is extremely organized in this area. He already had his student loans in a tidy spreadsheet. Let’s learn from him:

You want to know

  • how much you owe on each individual loan
  • the interest rate on each one
  • the amount applied to the principle each month
  • the TOTAL amount owed between all the loans

Me, I just knew I had a loan through a bank and paid money once a month.

Man, am I glad I married HIM.

Once you are calculated and organized, I promise you are going to feel a thousand times better! Even if you used that puke bucket.



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