Debt buster

Are you finding yourself overwhelmed with multiple credit card payments? Medical bills? Student loans and mortgage loans? Use this chart to help you organize and pay off your bills faster. I have used this chart for myself with medical bills and paid off a couple grand within 1 year. The credit for this chart goes to where we learned about: "One For the Money: Guide to Family Finance" by Elder Marvin J. Ashton of the Quorum of the Twelve Apostles. He calls it the Debt-Elimination Calendar.

Here is Elder Ashton explaining the debt-elimination calendar.
"A debt-elimination calendar can help you reduce or eliminate unnecessary debt. Mark off several columns on a piece of paper. In the first column on the left, write the names of the months, beginning with the upcoming month. At the top of the next column, write the name of the creditor you want to pay off first. It may be the debt with highest interest rate, or the earliest pay-off date. List the monthly payment for that creditor until the loan is repaid as shown in the illustration above. At the top of the next column, record the name of the second creditor you want to repay, and list payments due each month. After you have repaid the first creditor, add the amount of that monthly payment to your payment to the second creditor. (In the example above, notice that the family finished making monthly payments on their credit card. They then added $110 to the department store's $70 payment, creating a new monthly payment of $180) Continue with the process until all the loans are repaid." emphasis added