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I paid off €15027 debt in 1 year. During this year I developed the "4 Families Budgeting method" This has single handedly transformed how I budget and makes me actually want to continue budgeting.
My 4 Families Consists of The Walls, The Longs, The Fundays and The Jones'. These are four different categories for you to break down your debt in
You start by entering the income from all the different sources. This is all added up and the total becomes your Starting Income.
It then moves to The Walls Family. This is where our needs are met and the categories that would go into this family are , Food, Housing, Transport, Utilities (childcare , medical optional). After adding these up the total is added. This is automatically subtracted to find the newest starting income
The same is repeated for The Longs which are your current minimum debt repayment, your non essential bills and sinking funds.
The same is repeated for The Fundays Family which is the fun aspect of your budget. This is your self-care, wants and treats.
Finally we are at The Jones' Family. This where your are at looking towards your future. Extra debt payments ,Emergency Fund, investing, saving for a mortgage , pension the list goes on .
Your starting income should end with zero.