Debt payoff guides

Plain-language answers to common questions about paying down debt. Each one uses real numbers so you can see the effect.

Compare the debt snowball and debt avalanche methods with a worked example showing months to payoff and total interest.

See how long it takes to pay off a $5,000 credit card at different monthly payments, and how much interest each choice costs.

Learn how credit card interest is calculated, what a grace period is, and why carrying a balance costs more than the stated APR suggests.

APR is the yearly cost of borrowing. Learn how it differs from the interest rate and why it matters when comparing loans and credit cards.

Find out how much interest extra car loan payments can save, and what to check with your lender before you send more than the required payment.

A plain-language framework for deciding between extra student loan payments and investing, with an example of what extra payments save.

See how much interest extra mortgage payments can save on a 30-year loan, and the trade-offs to weigh before you pay down your home loan.

Eight practical steps for paying off debt faster, including how rolling freed-up payments into the next debt cuts months and interest.

See how long it takes to pay off $10,000 of credit card debt at different monthly payments, and how much interest each choice costs.

Compare a debt consolidation loan with paying several credit cards separately, using a worked example with interest, fees and payoff time.

Learn how a 0% balance transfer works, how the transfer fee affects savings, and what to check before moving a credit card balance.

A plain-language way to decide between building an emergency fund and paying off debt, with an example of interest cost versus savings.

Learn how to estimate how long it takes to pay off a credit card or loan, with the formula, a worked example and a table of payments.