Toolkit

Debt Escape Planner: give every debt a job and a finish line

Debt feels heavier when it is scattered across cards, loans and overdrafts. A plan starts by putting every balance in one place.

Step 1: list everything honestly

Write down the lender, balance, interest rate, minimum payment, payment date and whether the rate is promotional or variable. This turns a vague worry into a set of numbers you can actually work with.

Step 2: choose your strategy

The avalanche method attacks the highest interest rate first. It is usually the most efficient mathematically. The snowball method attacks the smallest balance first. It can feel more rewarding because accounts disappear sooner.

The best strategy is the one you will keep following. If you need quick wins, snowball may help. If you are focused on total cost, avalanche usually makes more sense.

Step 3: automate the boring parts

Set reminders for payment dates, rate changes and promotional period end dates. A missed payment or forgotten 0% end date can undo months of progress.

Important: This is general organisation, not debt advice. If debt is unmanageable, speak to a regulated debt charity or qualified adviser.
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