See how fast you can pay off debt and how much extra payments save you
Even small extra payments can dramatically reduce the time and cost of paying off debt. On a $25,000 credit card balance at 18.9% APR, adding just $200/month to your minimum payment can save you thousands in interest and years of payments.
The debt avalanche method prioritizes paying off the highest-interest debt first, saving you the most money mathematically. The debt snowball method pays off the smallest balance first for psychological wins. Both work — choose the one that keeps you motivated.