Everything you owe, what you can pay, and the order you will pay it in, on one page.
If you only print one sheet, print this one. The Debt Payoff Worksheet is the whole plan on a single page: what you owe, what you can pay each month, how you will pay it off and the first three debts you are going after. It is the sheet to fill in on the evening you decide to deal with the debt.
It does not force a method on you. Section 3 has a box for the snowball, the avalanche and your own order, with one line on what each is for. Tick one. The worksheet works the same either way, because the thing that pays off debt is not the order, it is sending the same amount every month and never letting it shrink.
When you want more depth, the snowball and avalanche worksheets roll the plan forward debt by debt, and the debt tracker adds a twelve-month log. This page is the summary they all hang off.
Download the free PDF
Free, no signup, no email address. Pick your paper size; every version is one page and prints on any home printer.
The ink saver version is the same sheet in black and gray for cheap printing. Print at 100 percent, not "fit to page", so the rows stay a comfortable height for handwriting.
Rather have the numbers filled in for you? Undebt.it members can open Printables in the member menu and get this sheet built from their own plan. A free Undebt.it account is all it takes.
What it looks like filled in
The same sheet completed with a sample plan: eight made-up debts totalling $24,520, paid down at $850 a month in snowball order. Demo numbers, just enough to show how the page is meant to be used.
Open the filled-in example as a PDF. The download buttons above give you the blank sheet.
How to use it
- Section 1: what I owe. Every debt with its balance, APR, minimum payment and due day. Total the balance and minimum columns; those two numbers are your starting point.
- Section 2: what I can pay. Total minimums plus the extra you can find each month. Be honest about the extra; a number you can hit every month beats a number you hit once.
- Section 3: how. Tick snowball (smallest balance first), avalanche (highest rate first) or your own order. Then the rule for all three: minimums on everything, the whole of the extra on the debt at the top.
- Section 4: my plan. Write the first three targets in order with their balances and the month you expect to clear each. Write the debt-free date, and in the last box, why you are doing this.
Tips that make it stick
- Fill the "why" box in.It sounds soft, but it is the line you will read on the month you want to quit.
- Extra money you find is not the same as extra money you have.Cancel or cut something first, then write the freed amount in section 2.
- Redo the sheet after the first debt is paid off.The new totals are smaller and the new plan is faster, and seeing that on a fresh page is worth the five minutes.
