Your Debts
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Payoff Strategy
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Debt-Free Date
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Time to Payoff
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Total Paid
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Payoff Order
Debt Payoff Strategies
Debt Snowball Method
Pay off debts from smallest to largest balance, regardless of interest rate. This method provides quick wins and psychological motivation as you eliminate debts one by one.
Debt Avalanche Method
Pay off debts with the highest interest rates first. This method saves the most money on interest but may take longer to see your first debt eliminated.
Tips for Faster Debt Payoff
- Make minimum payments on all debts, then put extra toward your target debt
- When one debt is paid off, roll that payment into the next debt
- Consider balance transfers to lower interest rate cards
- Cut expenses and redirect savings to debt payments
- Use windfalls (tax refunds, bonuses) for extra payments
- Avoid taking on new debt while paying off existing debt