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Debt Paydown Plan Worksheet

The document provides a worksheet to help assess and develop a strategy for paying down debt. It instructs the user to list all debts, their balances and interest rates. It then suggests paying minimums on all debts except the highest interest rate one, which should be attacked aggressively until paid off before moving to the next debt.

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Marie Mary
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244 views1 page

Debt Paydown Plan Worksheet

The document provides a worksheet to help assess and develop a strategy for paying down debt. It instructs the user to list all debts, their balances and interest rates. It then suggests paying minimums on all debts except the highest interest rate one, which should be attacked aggressively until paid off before moving to the next debt.

Uploaded by

Marie Mary
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Debt Worksheet

Use this worksheet to get a big picture of all your debt and develop a paydown plan.

Assess: The first step to reducing debt is understanding how much debt you really have. Complete the first four
columns and write down how much you are currently paying in the fifth column. We’ve provided a credit card example to
help you get started. Common types of debts include credit cards, mortgages, auto loans, payday loans, personal loans,
medical debt, and back child support payments.

Avoid: Try not to add to your existing debt as you are paying it down. Instead use cash or a debit card.

Attack: Adjust column five to develop your debt paydown strategy. Choose which debt you will focus your efforts on,
either the highest-interest rate debt or the one with the smallest balance. Pay the minimums on all the rest and use the
extra amounts to attack that debt aggressively. Then, when that debt is paid off, revisit your plan and decide which debt
to tackle next.

For more resources on paying down debt, visit usaa.com/debt.

Debt Name Remaining Balance Interest Rate Minimum Payment Actual Monthly Payment

Ex: Credit Card $8,765 11% $168 $200

Total Monthly Payment $

USAA means United Services Automobile Association and its affiliates.

This material is for informational purposes. Consider your own financial circumstances carefully before making a decision and consult with your tax, legal or estate planning professional. NC

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