Now, this may be a very scary step to many who are deep in debt - figuring out exactly what you owe. Most of us in debt do anything we can to AVOID those harsh, cold numbers of our debt - we'll do anything to ignore it and pretend it just isn't there.
But, if you're serious about getting your debt under control, you need to face these scary numbers once and for all. :) ANd remember, it's the first step of a plan that will help you eliminate that debt, so you should actually feel empowered by doing this. (But, feeling a little overwhelmed is okay too! In fact, it just makes you human.)
So, sit down with your bills (which may have remained unopened because you were too scared to look at what you owe!) and get out your handy calculator. Getting a brand new notebook for your Debt Reduction Plan is a great idea - or you can use your computer to create a file for that.
Write down everything you owe, so that you have the hard facts right in front of you. This is the very first step to getting in control of your debt - acknowledging and viewing the real numbers. This is one of the hardest things you may ever do, so just hunker down and do it - don't procrastinate! Just keep reminding yourself that this is the first step in getting back in charge of your financial life...and that the discomfort now will be worth it later on.
I'm proud of you! Now you know the real situation you're in financially, and next we'll learn how to take that information and start working on a plan that will work for YOU and YOUR FAMILY.