Free Debt Avalanche Payment Sheet Template
Debt Avalanche Payment Sheet
Prepared by:
[YOUR NAME]
[YOUR COMPANY NAME]
Step 1: List All Debts
Debt Type |
Creditor |
Total Balance |
Interest Rate |
Minimum Payment |
---|---|---|---|---|
Credit Card |
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Business Loan |
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Equipment Financing |
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Supplier Debt |
Step 2: Prioritize Debts (Debt Avalanche Method)
-
Rank the business debts by interest rate, from highest to lowest.
-
Allocate any extra payments to the debt with the highest interest rate.
Rank |
Debt Type |
Creditor |
Interest Rate |
Total Payment |
---|---|---|---|---|
1 |
||||
2 |
||||
3 |
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4 |
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5 |
Step 3: Debt Repayment Schedule
Month |
Debt Type |
Total Payment |
Amount Paid |
Remaining Balance |
---|---|---|---|---|
Step 4: Progress Tracker
Month |
Amount Paid |
Total Remaining Debt |
Debt Paid Off |
Remaining Debts |
---|---|---|---|---|
Tips for Success
-
Pay More Than the Minimum: Whenever possible, make extra payments on the debt with the highest interest rate to reduce it faster.
-
Stay Consistent: Maintain the payment schedule each month and adjust only when necessary.
-
Reassess Regularly: Evaluate your repayment progress every 3 to 6 months and make adjustments to your strategy as needed.