That’s a Load of Debt!

In Blog, Featured, Financial Resources, Resources by eri

To develop a plan for reducing your debt, first determine your debt load – the total amount you owe. Take a few minutes to collect all your bills and credit card statements to take inventory. On a piece of paper (or using the debt load worksheet in the resources below), write out the following:

  • Name of creditor
  • Current balance
  • Interest rate
  • Minimum monthly payment

Add your current balances to determine your debt load. WARNING: If you have never taken this step before, the number could come as a shock. However intimidating your debt load seems today, be encouraged that you are taking the first step toward financial freedom!

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