This section serves as your "ground zero." List every liability here, from credit cards to personal loans, to understand exactly what you are up against.
Current Debts
Debt Name | Balance | Interest Rate % | Minimum Payment | |
|---|---|---|---|---|
Example: Chase Visa | $4,500.00 | 19.99 | $135.00 | |
Total Debt Summary
Combined Balance ($):
Total Minimum Monthly Outflow ($):
Paying just the minimums is a marathon in quicksand. This section helps you define the "extra" power you're bringing to the fight.
Extra Monthly Payment (This is the amount above your minimums you can commit to every month):
Payment Method:
Snowball : Pay smallest balance first for psychological wins
Avalanche: Pay highest interest rate first to save the most money
Windfall Strategy % (What percentage of bonuses or tax refunds will go toward debt):
Months to Freedom (Minimums Only):
Months to Freedom (With Extra Payment):
Time Saved (Months / Years):
A form is just paper; action requires lifestyle shifts. Identify where the "Extra Payment" is coming from.
The "Cut" List (e.g., Unused subscriptions, dining out):
Income Boosters (e.g., Side hustles, selling items):
The "Emergency Buffer": Do you have at least $1,000 stashed away to prevent new debt?
Debt payoff is a long game. Discipline is easier when there’s light at the end of the tunnel.
Milestone 1: (e.g., First $1,000 paid off) — Reward:
Milestone 2: (e.g., Smallest card at $0) — Reward:
Milestone 3: (e.g., 50% of total debt gone) — Reward:
Form Template Insights
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