Manage Debt
Complete step-by-step checklist to manage debt covering list all debt balances & rates and choose debt payoff strategy, and essential action items.
List all debt balances & rates
Note credit cards, student loans, and personal loans with interest rates
Choose debt payoff strategy
Pick Avalanche (highest rate first) or Snowball (smallest balance first)
Allocate extra payoff funds
Direct extra cash to your target debt while paying minimums on others
Explore interest rate discounts
Inquire about rate reductions or balance transfer options
Calculate total debt reduction
Measure and log total debt progress monthly
Avoid creating new debt
Stop using credit cards with active carrying balances
Establish debt-free timeline
Calculate date of final debt paydown based on payment rates
Review consolidation loan rates
Check if a single personal loan saves interest on cards
Automate minimum debt payments
Set minimum auto-pays to protect credit score from late marks
Direct windfalls to debt targets
Commit tax refunds and bonuses to paying down active debts
Verify credit bureau disputes status
Submit correction forms if credit reports show paid debt as active
Review medical debt payment plans
Inquire about interest-free installment options directly with clinics
Consult certified credit counselor
Partner with non-profit agencies for personal debt help schedules
Audit debt-to-income (DTI) ratio
Calculate monthly debt costs divided by monthly gross income
Establish family debt-stop rules
Agree on maximum debt boundaries to protect household assets