Debt Management Resources

Learn how to manage debt so you can maintain control over your finances.

If you’re going to use credit cards – or even loans – then you need to learn how to manage debt. Managing debt effectively means creating strategic plans for debt repayment and being able to prioritize debts effectively. With the right debt management strategy, you can stay on-budget and avoid credit problems down the road.

These free debt management resources can teach you how to start managing your debt correctly. We explain everything from how to construct and effective credit card debt repayment strategy to how to use solutions like consolidation to pay off debt faster and save money.

Video: Smart strategies to take down credit card debt

If you’re carrying multiple credit card balances over from one month to the next, it’s time to take them down! We explain two ways to take down credit card debt using two proven debt reduction techniques.

Self-Help Guide: How to read a credit card statement

Whether you go paperless or still get monthly statements in the mail, you should always review your credit card statements carefully. But the truth is, many Americans simply ignore them. If you do, you could miss rate increase notices and important information about how much your debt will cost you.

Infographic: Understanding the benefits of debt consolidation

Traditional payment methods aren’t always the fastest or least expensive way to pay off debt. Debt consolidation can help you eliminate debt faster and save big money on interest charges. And this works for more than just credit card debt! Learn about the advantages of debt consolidation so you can understand how it helps you reach zero faster.

Debt-to-income ratio calculator

If you apply for a loan, the lender will check your debt-to-income ratio to make sure you can afford the payments. If you’re over 41%, most lenders won’t approve the loan. But you can also use your DTI to measure your own financial health. Check your ratio now to see if you need to focus on debt elimination.

Bi-weekly payment calculator

Switching to a bi-weekly payment schedule can help you pay off loans faster and save money on interest charges. Instead of making monthly payments, you pay every other week. Your payments are cut in half. However, because you make 26 payments each year, you end up paying off debt faster than you would with 12 monthly payments. This calculator helps you evaluate the benefits of moving to bi-weekly payments.