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    Debt Reduction Chart

    Uploaded by

    Pips Seekers
    Pay the minimum on all debts except the one with the highest interest rate. Pay as much extra as possible on that debt each month until it is eliminated. Once paid off, apply the same payment to the debt with the next highest rate and continue doing so until all debt is paid off. This allows debts to be paid off quickest while saving the most interest.

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    Debt Reduction Chart

    Uploaded by

    Pips Seekers
    12 views1 page
    Pay the minimum on all debts except the one with the highest interest rate. Pay as much extra as possible on that debt each month until it is eliminated. Once paid off, apply the same payment to the debt with the next highest rate and continue doing so until all debt is paid off. This allows debts to be paid off quickest while saving the most interest.

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    Debt-Reduction-Chart.docx

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    Pay the minimum on all debts except the one with the highest interest rate. Pay as much extra as possible on that debt each month until it is eliminated. Once paid off, apply the same payment to the debt with the next highest rate and continue doing so until all debt is paid off. This allows debts to be paid off quickest while saving the most interest.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    12 views1 page

    Debt Reduction Chart

    Uploaded by

    Pips Seekers
    Pay the minimum on all debts except the one with the highest interest rate. Pay as much extra as possible on that debt each month until it is eliminated. Once paid off, apply the same payment to the debt with the next highest rate and continue doing so until all debt is paid off. This allows debts to be paid off quickest while saving the most interest.

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    © All Rights Reserved
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    Begin with your highest interest debt. Pay as much extra as you can afford each month.

    Once it is paid off, add


    the amount you were paying to the debt with the next highest rate. Continue until all your debt is eliminated.

    Minimum Extra New Original New Payoff


    Debt Total
    Payment Amount Payment Payoff Date Date

    Furniture $932 $25 $208 $233 4/2018 8/2013

    Store credit card $1,236 $47 $233 $280 6/2016 12/2013

    Visa $4,295 $79 $280 $359 3/2020 9/2014

    MasterCard $7,799 $138 $359 $497 7/2020 12/2015

    Home equity line of credit $9,228 $247 $497 $744 2/2017 5/2016

    Boat $8,204 $235 $744 $979 8/2017 6/2016

    $11,57
    Car $314 $979 $1,293 2/2017 7/2016
    9

    $23,41
    Truck $483 $1,293 $1,776 1/2019 11/2016
    3

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