Paying off debt is a common goal for the new year, but financial experts say it’s surprising how many people work from bad intel.  They say the first step should always be to make a list of all you owe.  Use supporting documentation if you have to. A lot of people just guesstimate a ballpark figure. Create a list of each debt, the amount, AND the interest rate.  It’s much easier to make a debt reduction plan for the new year when you’re working from the right info.