Take a step to obliterating your debt with these free Debt Reduction Worksheets

- By James Stevenson -

Are you looking for a little help with reducing your debt? Maybe one of the debt reduction worksheets below could be a step in the right direction?

This first debt reduction worksheet is easy to use and can help you plan how you will reduce your debt. You can download the Excel spreadsheet below.

To pay of your debts is a respect-worthy goal. To be debt-free after being in debt for a long time is such a huge relief! Hopefully you can use this worksheet to help you to plan the payment of various debts.

Have a quick look at the picture below to see if this might be helpful for you.

Use this debt reduction spreadsheet to help plan your way out of the red

How you use this worksheet:

First you fill in the item columns, the amount owed columns, and the interest rate per year columns.
The one to be played around with is the 'no. of months you hope to pay the debt off in' column. Try out different combinations until you like the look of your individual and total monthly payments, the total interest payed, and the overall payment. The worksheet is set up for these figures to change automatically.
You will notice that some combinations will have you paying less overall. Take what you can pay per month and keeping to that figure find which debts it is financially beneficial to pay off quickest.
This worksheet will give you an idea about when you will be debt free which can be used in your goal setting. If you want think through your goal in some detail check out these worksheets.

A copy of the spreadsheet above can be downloaded here. Simply add your own data over the example data I have put in there.

If you want a debt reduction worksheet that helps more with motivation and perspective you can use the one below

And finally...

Once you've entered your data and are happy with your monthly payment figures and totals or you've completed the 2nd worksheet with your strengths etc... I would recommend printing out a copy and putting it somewhere you can't miss every day. The idea is to do whatever you can to engrave the goal in your life so your life is primed and open to receive solutions. Good luck!

James Stevenson is the owner of WiseGoals.com. Living in the UK, but also working internationally on-line, James is also a highly qualified, experienced, and accredited trauma-aware wellbeing coach at TraumaAwareCoaching.co.uk. He works with clients in a future focused and solution orientated way by exploring what the good life or a flourishing life might look like for them. Harnessing that motivation, obstacles that come with trauma like the toxic inner critic, self-blaming, self-judgement, fear and avoidance, anxiety, depression, and intense and confusing emotions are worked through. More about James here.

Facebook Twitter Pinterest Tumblr Reddit WhatsApp Messenger

Like something you've read? Do your friend a favour & pass it on!

Would you prefer to share this page with others by linking to it?

Click on the HTML link code below.
Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.