💰 Extra Payment Impact

The Power of Extra Payments

Making extra payments toward debt is one of the most effective ways to save money and become debt-free faster. Even small additional amounts can save thousands in interest and shave years off your repayment timeline.

Where Extra Payments Go

Regular minimum payments are mostly interest at first. Extra payments go directly to principal, reducing the balance that generates interest. This creates a compounding effect—less principal means less interest, which means more of each future payment goes to principal.