Getting out of debt can feel overwhelming, but with the right repayment plan, it’s possible to pay down high balances, start saving money, and reach your financial goals.

A debt elimination plan gives you a good grasp of your finances while setting actionable repayment targets. Although paying off your debt won’t happen overnight, a good repayment plan can help you stay both motivated and committed to improving your finances.

Here’s how you can create a debt elimination plan and get back on track with your budget.