Getting out of debt usually isn’t about earning more — it’s about seeing your money clearly and pointing it in one direction. This free, five-step planner walks you through it: figure out what an hour of work really pays you, set a monthly “Debt Destroyer” payment, line up your debts in the fastest order, find the money in your spending, and see the month you’ll be debt-free.
Your numbers stay private. The planner runs entirely in your browser. Nothing you type is sent to bananfew or stored anywhere but this device. It’s inspired by ideas from Stacy Johnson’s Life or Debt.
Step 1 · What you really earn per hour
Your paycheck number isn’t what an hour of your life is worth. Taxes come out first, and then work itself costs money — the commute, the lunches, the clothes. Once you see your real hourly wage, every price tag starts to look like hours, not dollars.
Yearly cost of going to work
Optional: the real cost of one purchase
Think of something you bought that you barely use. Money spent today could have grown for decades instead. At about 10% a year, a dollar left alone for 20 years grows to roughly $6.70.
Step 2 · Set your Debt Destroyer
The Debt Destroyer is one steady monthly payment you add on top of your minimums. The classic target is 10% of your yearly income, divided by 12. It feels like a lot at first — Step 4 helps you find it in your current spending.
Your goal & deadline
A goal with a date on it is a plan. Write yours down — we’ll check it against your timeline in Step 5.
Step 3 · List your debts & find your order
List everything except (optionally) your mortgage. We rank debts by balance ÷ minimum payment. The lowest number is the debt you can wipe out fastest — and each one you clear frees its payment to roll onto the next.
Your payoff order
Add a debt to see your order.
Step 4 · Find the 10% in your spending
You don’t need a new life — just a few honest trims. Enter roughly what you spend each month, then what you’re willing to cut. Small cuts in three or four places usually add up faster than one big sacrifice.
| Category | Now / month | I can cut |
|---|
Step 5 · Your payoff timeline & what comes after
After you’re debt-free: keep the habit, change the target
The day your last debt is gone, don’t give yourself a raise. Point your Debt Destroyer and all those old minimum payments at investing instead. You’re already used to living without that money.
Don’t do it alone
Tell one person about your goal — a partner, a friend, a sibling. Check in monthly. If debt feels unmanageable, a nonprofit credit counselor (look for NFCC members) can help you look at options for free or low cost.
Educational tool, not financial advice. Results are simple estimates (monthly interest, fixed rates, no new charges) and real numbers will differ. Talk with a qualified professional about your situation.
Inspired by ideas from Stacy Johnson’s Life or Debt. This planner is an independent bananfew tool and isn’t affiliated with or endorsed by the author. Want the full method? Get the book on Amazon or the Life or Debt 2010 edition. As an Amazon Associate, bananfew earns from qualifying purchases (disclosure).
Keep going: New here? Start Here. Prefer paper? Grab the free Debt Snowball Tracker or the Calm Money Planner. More reading: getting out of debt with the snowball, your first $1,000 emergency fund, and what to do after you’re debt-free.