Determine how much you can contribute toward paying off your debt

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Add up all your recurring monthly expenses and subtract that from your monthly income. What's left over is how much you have available to divvy up between living expenses (food, clothing, entertainment, etc.), savings and debt. You should consider trimming back on your savings rate in order to increase the amount you're paying on your debt until you're debt free. Find a fixed amount that you'll pay each month and commit to contributing at least that toward your debt.

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