Our Debt Management Worksheet

To get out of debt, you have to start with an honest list of every single debt you owe. Here's a worksheet to help you get started, but be sure to add your own items that we haven't included. Write down the numbers from the last bill you received for each item.

How Much Do You Owe?
Debit Amount
Interest Rate
Primary Home Mortgage
___________
Vacation Home Mortgage
___________
Investment Property Mortgage
___________
Car
___________
Personal Loans
___________
Student Loans
___________
Taxes
___________
Credit Cards
___________
American Express
___________
Visa
___________
MasterCard
___________
Discover
___________
Department Store Cards
___________
Others
___________
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Child Savings Accounts

When opening a savings account for your child, make sure their Social Security number is used as the account's tax identification number. That way, as long as your child is under age 14, interest earned will be taxed at your child's lower tax rate, not at your tax rate. This rule holds true as long as your child earns less than $1,300 a year in interest.

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