It is in Leif’s fortune (literally) that he makes a good income. If he takes a deep breath and dives in completely with my suggestions, he can free up his cash flow and knock out the debt in an astonishingly fast time frame.
My job is to show him what’s possible.
Here is a presentation I made for him.
I advised Leif to budget half his income for his income taxes. This is almost certainly too high, but it’s a cushion for anything unexpected. This means that the absolute best case scenario is actually better than my presentation. Building in cushions throughout your budget is one more layer of protection.
I built a budget planner excel worksheet in Google Drive that I shared with Leif. Here is a rough proximity of what it looked like.
I don’t know how to make it functioning for you to play with (I will soon), but Leif was able to fill in his own numbers and his “Total Expenses” “Remaining” and “Total to Debt/Month” would automatically update.