How to pay off debt faster
A payoff plan becomes easier to follow when you know the balance, rate, minimum payment and extra amount.
Snowball
Pay minimums on all debts and direct extra money to the smallest balance first. This can create quick milestones.
Avalanche
Pay minimums on all debts and direct extra money to the highest interest rate first. This focuses on interest cost.
Make the extra payment explicit
Even a fixed additional amount each month can materially change the timeline. Test the amount before committing to it.
Use the debt payoff calculator Track debt in The Wealth Flow