That's exactly what I did to get out of mind-numbing debt in the 90's. I used a spreadsheet to calculate stuff and it was sooo satisfying to watch the creditors fall by the wayside. That last creditor was getting over 500.00/month. I never got another credit card.

I like how you illustrated this. I had made a less detailed one for my co-workers and, I guess I wasn't convincing enough.

By the way, this also works for mortgages. I was doing a bit of it before the opportunity came to unload all real estate (at the height of the real estate bubble, thank goodness!)

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This is what should be taught in schools! We'd all be in better financial shape if we had this knowledge explained as well as this article. I'm saving all your articles for future reference and sharing them when someone runs into this situations.

Also loving the visuals! They add so much clarity. Keep 'em coming Jon

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I love these graphics Jon!

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