Inventory every balance
Replace estimates and forgotten accounts with a statement-backed list of every obligation.
Debt Payoff
From Khan Academy. Watch here or open it on YouTube .
During the course primer, listen for ideas that change how you approach “Inventory every balance.” Pause once to capture a useful point, then apply it while producing a dated debt inventory with a source document and verification status for every row.What this lesson is really solving.
Replace estimates and forgotten accounts with a statement-backed list of every obligation. This is lesson 1 because later decisions depend on a dated debt inventory with a source document and verification status for every row. You cannot choose a route until every destination and road toll is visible. Use your own numbers, files, environment, and constraints so the result survives outside the course.
Understand the idea before touching the steps.
You cannot choose a route until every destination and road toll is visible.
Follow these steps in order.
Take the action in each step; then use the deliverable below to prove the lesson is finished.
- 1
Create one row per debt with creditor, balance, APR, minimum, due date, status, collateral, and promotional-rate end date.
- 2
Match each row to a current statement or creditor portal; mark disputed or uncertain balances instead of guessing.
- 3
Separate secured debts, priority obligations, collections, and ordinary unsecured balances because missed payments have different consequences.
- 4
Calculate total debt, total monthly minimums, and the monthly interest shown on current statements without hiding uncomfortable numbers.
See the standard in context.
Jordan finds four cards, a car loan, and a medical payment plan. A promotional card that looked interest-free is flagged because its 0% period ends in 11 weeks. The learner saves a dated debt inventory with a source document and verification status for every row and notes the evidence or assumption behind the choice so it can be reviewed and improved later.
Inspect before you move on.
- The finished work visibly includes a dated debt inventory with a source document and verification status for every row.
- You tested the work against this common failure: Using a credit-monitoring summary as the only source; it may omit medical bills, recent accounts, fees, or current payoff amounts.
- Another person could verify this mastery standard: Every balance can be traced to a current record and all required monthly payments add to one confirmed number.
Your deliverable
A dated debt inventory with a source document and verification status for every row.
Watch for this
Using a credit-monitoring summary as the only source; it may omit medical bills, recent accounts, fees, or current payoff amounts.
Prove it—don’t just recognize it.
Every balance can be traced to a current record and all required monthly payments add to one confirmed number.
Quick knowledge check
Answer from the lesson—not from confidence alone. Score at least 2 of 3 to unlock completion.
This curriculum-aligned check is scored automatically and stored with your account when signed in. It is an objective learning signal, but it has not yet been independently validated as a standardized assessment.
Tools, templates, and references
Pass the knowledge check above first.
Completion unlocks after a score of 2 out of 3. Then confirm that you produced the lesson deliverable.
Go to the knowledge check