Meet a Debt Payoff Goal

Which debt should I payoff first? Setting a goal for paying off a mortgage, auto loan, credit card or personal loan makes sound financial sense. Some loans, such as a mortgage or car loan have defined repayment periods. Others do not. To reach a debt repayment goal, you will need to know what you need to pay each month. You also might want to compare it to your current repayment schedule to see how helpful reaching that goal might be.