Paying Off Debt: What to Do First (Your Week 1 Plan)
You've decided to tackle your debt. But where do you actually start?
Here's your day-by-day plan for week one.
Day 1: List Everything
Open every banking app. Write down:
Credit cards: balance + rate (APR)
Overdrafts: balance + rate (EAR)
Loans: balance + rate + minimum
Store cards: balance + rate
Don't judge the numbers. Just capture them.
Day 2: Calculate Your Budget
Your debt budget = income − essentials − emergency fund (optional)
In DebtRiot, enter: Monthly take-home pay, Essential expenses (rent, bills, food, transport), Optional emergency buffer (we suggest £50-100)
The calculator do the maths and shows your available debt budget instantly.
Day 3: Enter Into Calculator
Add each debt. Set your budget. See all strategies compared.
Note your debt-free date.
Day 4: Choose Your Strategy
Look at the comparison. Ask:
Do I need quick wins? (Snowball)
Am I motivated by savings? (Avalanche)
Is the difference even significant?
Pick one.
Day 5: Set Up Automation
Log into banking. Set standing orders:
Minimum payments on all debts
Extra payment to target debt
Payments should go out day after payday.
Day 6: Tell Someone
Text a friend or family member: "I'm paying off debt. Target date: [your date]."
Accountability increases follow-through by up to 65%.
Day 7: Rest
You've done more this week than most people do in a year.
The system is set up. Now let it run.
Week 1 Complete
You now have:
Complete debt inventory
Realistic budget
Chosen strategy
Automated payments
Accountability partner
Specific debt-free date
Next: monthly check-ins to track progress.
Not financial advice. For debt help contact: StepChange, National Debtline or Citizens Advice
