Growing Wealth
◆ Track 02 · E-course

Debt payoff.

Debt isn't a moral failure — it's a math problem with an interest rate. Here's how to make the math work for you.

For: Anyone carrying credit-card balances, student loans, or a car note that won't quit.

Start lessons →Take the quizReading list ↗
Course at a glance
  • Lessons4
  • Total time20 min
  • Quiz3 questions
  • Books2
← All tracks
§ Overview

What you'll walk away with.

By the end of this course you'll have a written payoff plan with a real freedom date, you'll know whether to avalanche or snowball, and you'll have stopped the most expensive bleeds in your financial life.

  1. 01List every debt with balance, APR, and minimum payment.
  2. 02Choose a payoff method you'll actually finish.
  3. 03Cut interest costs through refinancing or consolidation where it makes sense.
  4. 04Build a relapse-proof routine that keeps balances dead.
§ Lessons

The course.

  1. 01
    5 min

    Inventory before strategy

    You can't pay off what you haven't measured. The first move is brutal honesty on one page.

    Key points
    • →List every balance, lender, APR, and minimum.
    • →Sum the totals — yes, all of it.
    • →Calculate total monthly minimums vs your take-home pay.
    Action

    Open a doc. Write 'Debt Inventory' at the top. Don't stop until it's complete.

  2. 02
    6 min

    Avalanche vs snowball, honestly

    The avalanche saves more money. The snowball keeps more people in the game. Pick what you'll finish.

    Key points
    • →Avalanche: highest APR first — mathematically optimal.
    • →Snowball: smallest balance first — psychologically motivating.
    • →The best method is the one you stick with for 24+ months.
    Action

    Sort your debt inventory by APR (avalanche) and by balance (snowball). Pick one order.

  3. 03
    5 min

    Lowering the interest rate itself

    Before you pay faster, see if you can pay less per dollar. Refinancing, balance transfers, and negotiation.

    Key points
    • →0% balance transfers can buy you 12–21 months of zero interest — if you'll actually pay it off.
    • →Student loan refinancing trades flexibility for a lower rate.
    • →A simple call asking 'is there anything you can do on my rate' works more than you'd think.
    Action

    Call one lender today and ask for a rate reduction. Script: 'Is there any way to lower my APR?'

  4. 04
    4 min

    Staying out after you get out

    The riskiest moment isn't being in debt — it's the month after you escape it.

    Key points
    • →Keep the payoff money flowing — into savings, not lifestyle.
    • →Close fewer cards than you think (it can hurt your score); just stop carrying balances.
    • →Build a 1-month buffer immediately so emergencies don't reload the cards.
    Action

    Redirect your old debt payment to a savings auto-transfer the day it ends.

§ Quiz

Check your work.

  1. 01

    You have $500/month extra to throw at debt. Which method pays off ALL debt fastest in total dollars?

  2. 02

    When does a 0% balance transfer card backfire?

  3. 03

    Why might closing a paid-off credit card hurt your credit score?

0 / 3 answered
§ Reading list

Books for this track.

01Must read

The Psychology of Money

by Morgan Housel

Debt is mostly emotional. This is the clearest book on the behavior side of money.

02

I Will Teach You to Be Rich

by Ramit Sethi

Has the most practical scripts for negotiating APRs and automating payoff.

§ Additional sources

Curated extras.

Videos, articles, podcasts, and tools that pair with this track. Add your own here — this section is built to grow.

Space reserved

Drop your additional sources here — YouTube videos, blog posts, podcasts, tools.

Add entries to additionalSources in education-tracks.ts for this track.

← Previous track
Money basics
Track 02
Debt payoff
Next track →
Investing