1. Debt Overview & Prioritization Sheet (The Master Plan)
This sheet is crucial for the Step 2/3 process (Gathering and Ranking). It should be the first page in your Debt Freedom Binder.
| Section | Content & Purpose |
| Goal: | Debt-Free Date Target: [Month, Year] |
| Method: | [ ] Debt Snowball (Smallest Balance First) [ ] Debt Avalanche (Highest Rate First) |
| Total Debt Balance (Start): | $ [Your Starting Total Here] |
| Rank | Creditor Name | Interest Rate (APR) | Starting Balance | Current Balance | Minimum Payment | Target Payoff Date |
| 1 | [e.g., Credit Card A] | [e.g., 24.99%] | ||||
| 2 | [e.g., Auto Loan] | [e.g., 5.5%] | ||||
| 3 | [e.g., Student Loan] | [e.g., 4.0%] | ||||
| 4 | [etc.] |
Instructions: Fill out the Starting Balance on Day 1. Use the “Rank” column based on your chosen method. The “Current Balance” is updated monthly after your main payment.
2. Monthly Debt Payment Log (The Detailed Tracker)
Use this sheet to track the specifics of every payment you make on a single debt until it is paid off. You will print one of these sheets for each debt.
Debt Name: _________________________ Original Balance: $___________
| Date Paid | Total Amount Sent | Interest Paid | Principal Paid | New Remaining Balance | Notes/Extra Payment Source |
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DEBT-FREE CELEBRATION DATE: ________________
Instructions: This log requires you to know how your payment was allocated (principal vs. interest). This information is usually found on your creditor’s online payment confirmation or statement. Tracking the Principal Paid and the New Remaining Balance is key to motivation.
3. Visual Debt Reduction Tracker (The Motivation Sheet)
This is a simple chart, often called a Debt Thermometer or Debt Snowball tracker, used solely for motivational, visual tracking.
Debt Name/Goal: Total Debt Paid Off (Use this for the combined total)
Goal Amount: $________________ (e.g., $10,000)
Draw a large thermometer or bar chart on your page. Divide the chart into 10 equal sections. Label the sections with milestones.
| Section Label (Example for a $10,000 goal) | Color In When… |
| 10% Paid Off | $1,000 has been paid toward principal |
| 20% Paid Off | $2,000 has been paid toward principal |
| 30% Paid Off | $3,000 has been paid toward principal |
| 40% Paid Off | $4,000 has been paid toward principal |
| 50% Paid Off (Halfway!) | $5,000 has been paid toward principal |
| 60% Paid Off | $6,000 has been paid toward principal |
| 70% Paid Off | $7,000 has been paid toward principal |
| 80% Paid Off | $8,000 has been paid toward principal |
| 90% Paid Off | $9,000 has been paid toward principal |
| 100% DEBT FREE! | $10,000 has been paid toward principal |
Instructions: Every time you reach a $1,000 milestone (or whatever increment you choose), take a highlighter or marker and color in the corresponding section. This simple, tangible act reinforces your commitment and visibly shows your progress toward the end goal.
