How to get out of debt, step 14:
Monitor your spending and earning as you get out of debt.
Previous: 13. Renegotiate debts for lower rates and better terms.
14. Monitor your spending and earning as you get out of debt.
Ingredients: all of your plans, your policies, your ongoing accounting.
Now that you have all of your knowledge, you have a lot of power. You have optimized your income, reduced your expenses, restructured your debt, created a schedule for eliminating them and set policy that will ensure success. As with any plan, flexibility is very important. On a monthly basis, evaluate how well your plan is proceeding. Monitor all of your spending and earning. It should be more or less as you expect, but changes in your situation can happen. Don't be afraid to adjust the plan.
Rather, be afraid to not adjust it if it needs to be adjusted. That could be a small fix, or it could be a major shift in policy, spending limits, extra income earning requirements and so forth. You may be doing better than expected and can allow yourself to spend more on important things, or to speed up your repayment calendar (preferred). Get feedback from all parties involved as to whether or not the plan is working. If it ain't broke, don't fix it. If it's broke, fix it fast.
Next: 15. Succeed in your plan for how to get out debt, stay out of debt, live prosperously.