What's the Deal: How one mom eliminated $77k in debt in 8 months

Kumiko Love calls herself "The Budget Mom." She's 100% debt free, paying off more than $77,000 dollars in 8 months.

Love shares her 3-Step process on her now viral blog.

Step One: The Calendar Method.

It sounds basic, but you must first identify your regular bills like rent, mortgage, school bills, memberships and the like. Then, designate the dates and the amounts due.

Use that same calendar to mark pop-up expenses like birthdays and holidays.

Step Two: The Paycheck Method.

Love is what she calls a "paycheck budgeter," which means she creates a budget every time she's paid. She then assigns bills to be paid from specific paychecks.

She says being honest and creating a plan for every dollar is the only way to get rid of mindless spending.

Step Three: The Cash Envelope System.

Once your necessary bills are accounted for on your calendar, it's time to figure out the "variable bills." Those are things like groceries, fun expenses, gas and entertainment.

After every month, assess and see where you can challenge yourself to spend less next month.

She advises making it reasonable because you don't want to set yourself up to fail and get frustrated.