Gather documents from the same period
A debt inventory is a working list of obligations, not a judgment about how they arose. Collect recent statements for cards, instalment loans and other borrowing. Include household arrangements that create real repayments, even if they do not appear in a banking app. Record the date beside each balance.
For every item, note the lender, a short account label, balance, required payment, due date, rate and any promotional expiry. Include arrears and secured assets where relevant. You rarely need full account numbers in a planning spreadsheet; a recognisable nickname and final few digits can be enough.
Keep totals with different meanings separate
Suppose three balances are $700, $1,800 and $3,500. The total owed is $6,000. If their required monthly payments are $35, $90 and $175, the current monthly requirement is $300. Those two totals answer different questions: the size of the obligation and the immediate claim on cash.
Do not add a credit limit to the debt total, and do not count a balance transfer twice while it is processing. Mark pending transfers until both accounts show the completed movement. If a statement balance and a payoff quote differ, label each rather than silently replacing one with the other.
Turn the list into useful action
Check that the $300 requirement, or your own figure, fits between actual paydays. Flag missing statements and uncertain interest rates for follow-up. Only after the information is reconciled should you compare extra-payment strategies; an omitted obligation can undermine an otherwise careful plan.
Maintain the inventory
Update the inventory after each statement cycle and after major changes, using a consistent date where practical. Keep historical snapshots if they help show progress, but avoid editing old balances to look current. A clear record makes conversations with a lender or independent debt adviser more efficient because you can describe the problem with amounts rather than guesses. Add a column for questions, such as an unexplained fee, so information gathering does not depend on remembering every uncertainty.
