Getting debt free can take a lot of time and determination — but what if you could get there sooner than you think?
Putting a little extra toward your monthly payment can cut months or even years off your timeline. But what stops most people from doing it? Not seeing the bigger picture.
That’s what this quick check is for: no spreadsheets or complex math problems, just a simple way to see how small changes add up.
Step 1: See Your Current Trajectory
And the best way to do that is by grabbing a calculator or opening a free payoff calculator. (We like this one.) For each account you’re paying into, write down:
- The amount you owe
- Your minimum payment (both as a dollar amount and percentage of your balance)
- The APR %
Now, think of the maximum amount of extra cash you could put towards your debt — it doesn’t matter if it’s a big number, as even $50 more per month can make a difference. Using your preferred calculation method, compare your current approach’s debt-free date vs. the one where you’ll pay a bit extra. You’ll instantly see a new payoff date based on that change.
Step 2: Learn What that Reduction Means
Putting more money into your payment is like turbo-charging a car — you’re going to get where you want to go, faster. But what does your new timeline say about your debt status?
If you cut 1–2 months: You’re nearly there. That extra is mostly saving you interest now. Stay the course—you’re close.
If you cut 6–12 months: That’s major progress. Just a little more each month could set you free a year earlier. Think about adding consistent boosts, like paying twice per month or picking up a small side gig.
If you cut 2+ years: This is huge. You don’t need to hustle harder — just be intentional. A small shift now could save you years of payments.
Step 3: Make One Small Move This Week
You don’t need a big raise or second job to start. Try one of these:
- Auto-transfer $50 a month to your debt account
- Put part of your tax refund, bonus or extra income toward your next payment
- Check your payoff date every three months to stay motivated
It’s Worth your Time
Payoff progress can be slow to see, but checking your timeline makes the impact real. Every extra payment pulls the finish line closer. Even one small change can give you back months — or years — of your life.
Need to speed up the process more? Debt consolidation may be a good option for you.