To steer your debt freedom journey, instead of letting it steer you, there are a few things you’ll want to do each month (or end of your budget period).
1. Archive your budget
Archive your budget to keep a historical record before changing your budget period date. The Budget Archive option is below the Expense Budget Remaining pie chart on the Budget sheet.
Read more about the Budget Archive feature here.
2. Review your Budget sheet
Review your Net Cash flow summary area to see how you did for the period. Review the remaining amounts for your budget categories. Where can you cut spending?
3. Update the Budget period start date.
Update your planned budgets for each category. Use the actuals from the prior period to help you set realistic goals. Can you allocate more toward debt payoff this month?
4. Update your Monthly Payment Goal
If you change your debt payoff budget plan for this period be sure to update your Debt Progress sheet with the new Monthly Payment Goal.