Debt Avalanche Printable Tracker

debt avalanche printable tracker

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how to use the debt avalanche method to get out of debt

If you have ever been in debt, you know how stressful it is to owe somebody money, especially when there is interest being charged ontop of the total that you owe! Debt is a horrible way to live, it causes stress in families, divorce, and contributes to many other negative affects over time. Debt may seem overwhelming, but when you break it down, it is a very easy thing to climb out of if you have 1) a job and 2) a can-do attitude!

There are two main ways to pay off debt fast: one is called the snowball method, and the other is called the avalanche method (more on those later!) The most important thing to do is deciding that your are determined to pay off your debt, and be consistent about it.

Staying organized while paying off debt is super important, which is why I designed my Debt Avalanche Tracker printable that you can print (for free!) and use to keep track of the debt you pay off.

is the best way to get out of debt fast?

If you have ever heard of Dave Ramsey, he describes two main ways to get out of debt quickly. It all depends on your income, and how much you are able to throw at your debt to make it disappear. The two main ways of paying off debt fast are:

snowball method

The debt snowball method is my favorite because it is psychologically the best way to tackle your debt. First, start with your smallest debt and throw as much cash as you can at it, then once you have paid it off, take the minimum payment from that debt, and add it to your “snowball payment,” which is the amount of money per month that you throw at your next smallest debt. As you pay off debt, your snowball gets bigger and the debt becomes easier to manage. I have an entire post, complete with a debt snowball printable, HERE.

avalanche method

The debt avalanche method is mathematically the best way to pay off debt. Instead of ordering your debt from smallest to largest, you would order them by interest rate – largest to smallest, and pay off the largest first. By doing this, you are eliminating the debt with the highest interest rate first, thus saving money on interest in the long run. The wins are less easy to recognize this way because it may take longer to pay off that first debt and move to the second. It does work though!

avalanche tracker printable

To use my debt avalanche tracker printable, simply opt in to my email list below, download it and print it out, or save it to your favorite mobile device. Fill out the chart – list all of the debts you have from smallest interest rate to largest interest rate, followed by the snowball payment. (Your snowball payment would just be the monthly payment on this debt that you will commit to making.)  When you are finished paying off one debt, move to the next largest interest rate in your list. As you knock out debts, your avalanche will grow!

This printable will cover six months of paying off debt, at the end of the six months simply restart with the debts that you still owe and keep going! You can do this!

I hope you enjoy my Debt Avalanche Tracker Printable! Drop me a comment below and let me know if it helps you, and definitely come back to tell me when you are DEBT FREE so I can congratulate you for your hard work!

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