Dealing with Debt – Roll Down Your Debts (2009)

Many people budget a certain amount each month for the repayment of debts, but are puzzled that their debt load doesn’t decrease as quickly as they had expected. In this brief document, the authors present a strategy that won’t cost any more per month, but allows an individual to see real progress in debt reduction.

The strategy emphasizes eliminating one debt at a time, rather than trying to pay down all debts at the same time. The authors break the strategy down into a series of steps, and discuss factors to consider when deciding which debt to pay off first.

For example, a person might choose to start with the debt that carries the highest interest rate in order to avoid paying the most interest to creditors. They point out that another option is to pick the lowest balance and get the added boost from eliminating a debt quickly.

Once the first debt is paid off, the extra money is shifted to paying the next debt.

This document was developed by Money Mentors, a not-for-profit credit counselling and money management organization based in Alberta.

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Money Mentors. Dealing with Debt – Roll Down Your Debts 2009. Web. 19 Aug. 2022 <>
Money Mentors (2009). Dealing with Debt – Roll Down Your Debts. Retrieved August 19, 2022, from
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