Pay Off Debt: Order and Plan
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A plan lets you reduce debt step by step.
The key points
- List every debt with balance, interest rate and payment.
- Pay at least the minimum on all of them on time.
- Put extra money toward the highest interest rate.
- If it feels overwhelming, use free nonprofit credit counseling.
Recommended product
Weekly and Monthly Finance Planner
A planner with templates for monthly budgets, savings goals and a debt plan.
Bottom line
The step you will probably feel first: list every debt with balance, interest rate and payment. Start with one point, check the result after a few weeks, then build on your plan.