Debt Payoff FAQ

Does paying extra really make that much difference?

Yes. On a $5,000 card at 23% with a $150 minimum, adding $100 a month can cut the payoff from over four years to well under two, and roughly halves the interest.

What if my minimum payment barely covers interest?

Then the balance barely moves. You must pay above the minimum or the debt never clears. Raise the payment or move the balance to a lower-rate option.

Is it better to save or pay off debt first?

High-interest debt usually outweighs savings returns. A common rule is to build a small emergency fund first, then attack high-APR debt aggressively while keeping a minimal savings cushion.

Are these calculators financial advice?

No. They show the math of your inputs. For tax, legal or major financial decisions, speak with a qualified professional.