Debt Payoff Checklist
Organize balances, rates and payments into a clear debt-repayment plan.
- List every debt balance, rate, minimum payment and due date.
- Confirm whether any debt has variable rates or prepayment charges.
- Build a realistic monthly spending plan.
- Keep minimum payments current.
- Choose a prioritization method for extra payments.
- Direct additional money toward the selected balance.
- Review progress monthly.
- Avoid replacing repaid balances with new unnecessary debt.
- Maintain appropriate emergency savings while repaying debt.