Sample Debt Snowball - Keith Chuvala

Sample Debt Snowball

Sheet 10

List your debts in order from smallest to largest with the smallest payoff or balance first. Do not be concerned with interest rates or terms unless two debts have similar payoffs, then list the higher interest rate debt first. Paying the little debts off first shows you quick feedback, and you are more likely to stay with the plan.

Redo this sheet each time you pay off a debt so you can see how close you are getting to freedom. Keep the old sheets to wallpaper the bathroom in your new debt-free house. The "New Payment" is found by adding all the payments on the debts listed above that item to the payment you are working on, so you have compounding payments which will get you out of debt very quickly. "Payments Remaining" is the number of payments remaining on that debt when you get down the snowball to that item. Cumulative Payments is the total payments needed, including the snowball, to pay off that item. In other words, this is your running total for "Payments Remaining."

Count down to freedom!! Date:_______________

SAMPLE Item

Total Payoff

Minimum New

Payments Cumulative

Payment Payment Remaining Payments

P_e__n_n_y_'s__ S__e_a_rs____ V__is_a_____ M__._C_. ____ C__a_r_____ S_t_u_._L_o_a_n_s

___$_1_5_0__ ___$_2_5_0__ ___$_5_0_0__ __$_1_5_0_0__ __$_4_0_0_0__ __$_4_0_0_0__

___$_1_5___ ___$_1_0___ ___$_7_5___ ___$_9_0___ __$_2_1_0___ ___$_6_5___

_____$_0__ ___$__2_5__ __$__1_0_0__ __$__1_9_0__ __$__4_0_0__ __$__4_6_5__

_____0___ ____1_1___ ___P__D___ _____5___ _____4___ _____6___

G_a_r_ag_e__S_al_e ____1_1___ ____1_1___ ___1_6____ ____2_0___ ____2_6___

TOTALLY Debt Free except the house! Finish Emergency Fund Fund Retirement/College Then Do House

dumping debt

The Debt Snowball

Sheet 10

List your debts in order from smallest to largest with the smallest payoff or balance first. Do not be concerned with interest rates or terms unless two debts have similar payoffs, then list the higher interest rate debt first. Paying the little debts off first shows you quick feedback, and you are more likely to stay with the plan.

Redo this sheet each time you pay off a debt so you can see how close you are getting to freedom. Keep the old sheets to wallpaper the bathroom in your new debt-free house. The "New Payment" is found by adding all the payments on the debts listed above that item to the payment you are working on, so you have compounding payments which will get you out of debt very quickly. "Payments Remaining" is the number of payments remaining on that debt when you get down the snowball to that item. Cumulative Payments is the total payments needed, including the snowball, to pay off that item. In other words, this is your running total for "Payments Remaining."

Count down to freedom!! Date:_______________

Item

Total Payoff

Minimum New

Payments Cumulative

Payment Payment Remaining Payments

________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________

________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________

________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________

________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________

________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________

________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________ ________

gdeutmtinpginsgtadretbetd

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download