What's the best way to pay off my debt?

What's the best way to pay off my debt?
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I’m 24 I make $60,000 a year from my job. I have an LLC that does about $1000 a month that pay for all of my gas/insurance. I own a house and have a roommate that pays half the mortgage and utilities. My debt is 2 no interest loans; 1 for flooring that’s 24 months for 1500, another for 1000 no interest for 24 months. The one I’ve been working on is a $3000 credit card bill that’s currently no interest but I’m pretty sure that runs out in a few months. My credit score is 700+


To start with, make a budget. Total up all your monthly take home pay. Next, start to subtract all of your expenses. You will want to subtract your housing, car, gas, food, entertainment, clothing, insurance just to name a few.
If you aren’t sure where your money went, go to your checking account online or in your register. Take a 30 day period and start to categorize your spending. If it’s groceries, put the dollar amount under the heading groceries. Do the same for eating out, snacks and drinks, entertainment, clothes, or any other category you discover.
Add up the columns so you have an idea of what you spend on each one for a month. Put those figures into the budget. Once you’ve completed that task, subtract the total spending from the total income. Hopefully you have a positive number. If not, you need to go through each category and decide where you can cut back until you do have a positive number.
Doing this will allow you to free up extra money to put towards your debt, and will also keep you from going further into debt because you are running out of money each month.
To set up a debt reduction plan, you can go to www.powerpay.org. It’s a free website. You will put in all of your debts, including the dollar amount owed, what the interest rate is, and the minimum payment. From there you put in the extra money you have to apply each month. It will calculate how long it will take you to get out of debt, and even print you a calendar showing how much to pay on each debt, each month. (the directions for this sight are right on the homepage on the right hand side).


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