How to Make a Debt Payoff Plan in 5 Steps
- List every debt. Name, balance, interest rate, minimum payment. Pull the numbers from your latest statements — guesses make bad plans.
- Find your extra. Even $25–$50 a month changes the debt-free date. Look at subscriptions, eating out, and anything you can sell.
- Pick snowball or avalanche. Compare both in the calculator.
- Automate the minimums. Set autopay for the minimum on every account so a late fee never undoes your progress. Pay the extra to the target debt by hand so you see it happen.
- Track it where you can see it. A paper chart on the fridge that you color in each payday is surprisingly powerful. Print your plan from the calculator, or use a color-in chart.
Stop adding new debt
A plan only works if the balances are not growing behind you. Many people put the cards somewhere inconvenient and keep a small cash buffer for surprises so a flat tire does not go on the Visa.