Paying off debt comes down to a clear plan and consistent extra payments. Here is a framework that works for most people.

1. List every debt

Write down each debt with its balance, interest rate, and minimum monthly payment. Seeing everything in one place is the first step to a plan.

2. Keep making every minimum payment

Always pay at least the minimum on every debt to avoid late fees and credit damage. Your payoff strategy is about where the extra money goes.

3. Choose a payoff method

• Avalanche: Put every extra dollar toward the debt with the highest interest rate. This saves you the most money over time.
• Snowball: Put every extra dollar toward the smallest balance first. This gives you quick wins and momentum.

Both work — the best method is the one you will actually stick with.

4. Roll each payment forward

When one debt is paid off, take the full amount you were paying on it and add it to the next debt on your list. As debts disappear, your payments grow larger and the remaining balances fall faster.

5. Free up extra money to throw at it

Look at your budget for room to send more toward debt. Even a small consistent extra payment shortens your payoff timeline and cuts the total interest you pay.

In Wallet1000 you can build a debt payment plan and see how different extra payments change your payoff date and total interest.