Once you have determined how you are going to stop incurring new debt, the next step is to begin cleaning up the mess. To do this you will need to make a clear assessment of how big the problem is. To do this take a pencil and make a list of all the expenditures you expect to make over the next year. List each expenditure in priority order with the most important listed first and the least important last. Get out your charge card and bank statements for the last three to six months and try to determine where you spend your money. Also, remember to include expenditures that may only occur quarterly or annually, such as insurance payments, taxes, and educational expenses. Also, don’t forget to include savings for retirement. Total these expenditures.