Things You'll Need

Instructions

Make A Plan

1

Write down everything that you owe. Look at your credit report and all of your mail to ensure you capture everything.
2

Make a budget. Write down your monthly debts in a priority order starting with the highest monthly payment. Include food, gas, and miscellaneous expenses. Refer to the budget template in the resources section.
3

Add up the monthly payments and multiply the total by 12 to determine if you can truly live off of the annual interest payments. If your annual total was more than you would get in interest payments per year, continue working at your current job or consider getting a job to help you pay down debts to fit within the amount you make annually on the lottery interest.
4

Pay your monthly debts on time. Use any money left over to pay down debts early.