An equivalent circuit model for plasmonic slot waveguide-based devices is presented. Taking advantage of the high mode confinement provided by this waveguide geometry, we express plasmonic waveguide geometries using transmission line parameters and express T-junctions using lumped equivalent circuit elements. By combining these fundamental building blocks, we subsequently introduce equivalent circuit models for stub filters and branch-line couplers. We show that plasmonic circuits, if designed with sharp discontinuities, feature low losses that are comparable to losses from RF circuits and even the corresponding photonic circuits. The framework presented here gives insight into the design of novel microwave-inspired plasmonic devices and circuits and significantly speeds up the design time, as a large part of the geometry optimization can be performed in the equivalent circuit domain. For instance, we use this framework in a follow-up paper to design ultra-compact plasmonic hybrids, such as those needed for coherent detection.