Pay minimums on all debts, then focus extra payments on the smallest balance first. Builds momentum through quick wins and psychological victories.
Pay minimums on all debts, then focus extra payments on the highest interest rate first. Saves the most money overall by minimizing interest payments.
Distribute extra payments proportionally across all debts based on their balances. Balanced approach where all debts reach zero together.
Additional amount you can pay beyond minimums
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Pay minimums on all debts, then focus extra payments on the smallest balance first. Builds momentum through quick wins.
Pay minimums on all debts, then focus extra payments on the highest interest rate first. Saves the most money overall.
Distribute extra payments proportionally across all debts based on their balances. Balanced approach to debt reduction.
Important: Debt Planner is an educational tool only. We are not licensed financial advisors, credit counselors, or debt management professionals. All calculations are for educational purposes. Please consult qualified financial professionals before making significant financial decisions.
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