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Step 1
Collect all of your statements ranging from credit cards to automobiles to unsecured loans.
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Step 2
Use the statements to figure out which has the highest interest rate. Rank all of the others by the next highest interest rate until all of your bills have a rank.
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Step 3
Figure out how much extra money you can pay toward the bill with the highest interest rate while you pay the minimum on all of the other debt. Put as much toward the card with the highest rate and pay it down as fast as possible while always paying the minimums for your other accounts.
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Step 4
Once the first debt is paid off, move on to the next debt by the order from a previous step. Use the money that you used for the first account plus the minimum payment for the current account. Remember to keep paying the minimum on the other accounts. Once this account is paid, continue the same strategy for the next account and so on.
