Description
Debt Payoff Tracker Manual
We understand that dealing with debt can be stressful, but with this tool, you can create a clear plan to become debt-free. This guide will help you easily manage and pay off your debts. The Debt Payoff Tracker is a simple tool that helps you see how long it will take to pay off your debts. It can also show how much money you will save in interest by making extra payments.
Benefits of Debt Payoff Tracker 📊
- 💡 Visualization: See your debt reduction progress at a glance.
- 📉 Goal Tracking: Set and achieve milestones effectively.
- 📊 Customization: Tailor payment strategies to fit your budget.
- 📈 Motivation: Stay inspired with visual progress charts.
- ⏱️ Time Savings: Simplify planning with automated calculations.
Why should I use Debt Payoff Tracker? 🤔
- 🔍 Financial Clarity: Understand your debt repayment timeline.
- 📚 Educational: Learn effective strategies for debt reduction.
- 🚀 Efficiency: Streamline your financial planning process.
- 💼 Achievement: Reach debt-free goals faster.
- 📱 Accessibility: Manage your debt payoff anytime, anywhere.
Freebies 🤩
- ✅ Household Budget Tracker
- ✅ Annual Budget Tracker
- ✅ Sinking Funds
- ✅ Monthly Budget Tracker
- ✅ Net Worth Tracker
Steps on how to use the Debt Payoff Calculator:
Step 1. Fill in the Debt Chart on the “Debts”Tab: Debt name, balance, minimum payment and interest rate.
Step 2. Fill in the Repayment Start Date – the month and year you will start your repayment
Step 3. Fill in the Start up amount saved – the dollar amount you have already saved to put towards your debt (can be zero!).
Step 4. Fill in the Extra monthly contribution – the amount you want to contribute on top of your monthly minimums
Step 5. Get started on your debt repayment! On the ‘Debt Payment Table’ tab, set it to “Done” to the left of each debt, once the monthly payment has been made.
