Debt doesn't have to define your financial future.
Millions of Canadians are carrying debt that feels overwhelming. Credit cards. Car loans. Lines of credit. Student loans. The weight of it affects sleep, relationships, and how you feel about your future. This page is not here to judge you. It's here to show you that no matter where you are starting from — there is a real path forward. And it starts with knowing your numbers.
73%
of Canadians carry debt
$21,000
avg non-mortgage debt
No judgement
every journey starts somewhere
Every extra dollar you put toward debt is a guaranteed return equal to the interest rate. Paying off a 19.99% credit card is like earning 19.99% risk-free — no investment can match that.
Your Debts
Debt Entries
Payoff Strategy
This is the most powerful lever — even $100/month extra makes a dramatic difference.
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Using Avalanche strategy
Total Debt
$39,000
Interest (Minimums)
$16,849
Interest (With Strategy)
$10,393
Interest Saved
$6,455
| Strategy | Payoff Time | Total Interest | Interest Saved |
|---|---|---|---|
| Minimum Only | 7 years 11 months | $16,849 | $0 |
| Snowball | 3 years 9 months | $10,551 | $6,298 |
| Avalanche | 3 years 9 months | $10,393 | $6,455 |
Debt Payoff Order
Debt Balance Waterfall
Current Monthly Minimums: $906
- Principal: $444
- Interest: $462
Right now 51% of every minimum payment goes to interest. As you pay down debt, this improves.
Avalanche Method
Pay minimums on all debts. Put all extra money toward highest interest rate first.
Saves $157 more than snowball in your case.
Snowball Method
Pay minimums on all debts. Put all extra money toward smallest balance first.
Pays off first debt 0 months sooner — building momentum.
See what different extra payment amounts do:
The Debt-Free Dividend
Once your debts are paid off, you'll free up $1,106/month in cash flow. If you redirect that to investments at 7% for 10 years, it grows to $191,432.
You have $39,000 in total debt across 4 accounts. Making minimum payments only, you'd pay $16,849 in interest and be debt-free in 7 years 11 months. Using the Avalanche method with $200 extra/month, you save $6,455 in interest and become debt-free 50 months sooner.
First — a few things we want you to know.
Debt is not a character flaw
Debt happens. Job losses. Medical emergencies. Relationship breakdowns. Cost of living increases that outpaced wages. The reasons people carry debt are almost always completely understandable. The only thing that matters now is what you do next.
You do not need to earn a lot to make real progress
Some of the most powerful debt payoff strategies work best for people with limited extra cash. The snowball method. Stopping one subscription. One less takeout meal per week. Small consistent changes compound into life-changing results.
Asking for help is the strongest financial move
The families who turn their financial situation around fastest are the ones who stopped trying to figure it out alone. A free conversation with Sarah costs nothing — and most people leave feeling genuinely hopeful for the first time in years.
Two proven methods to become debt free faster.
The Avalanche Method
How it works:
Make minimum payments on all debts. Put every extra dollar toward the debt with the highest interest rate. When that is paid off roll that payment to the next highest rate.
Why it works:
You minimize the total interest paid over time. This is mathematically the most efficient method.
Best for:
People who are motivated by numbers and want to pay the absolute least amount of interest.
The Snowball Method
How it works:
Make minimum payments on all debts. Put every extra dollar toward the smallest balance first regardless of rate. When that is eliminated roll that payment to the next smallest.
Why it works:
You build momentum quickly. Paying off a debt completely is psychologically powerful and keeps people on track.
Best for:
People who have struggled to stay motivated in the past. Studies show this method has higher completion rates.
Neither method is wrong. The best strategy is the one you will actually stick to. Sarah can help you decide which approach fits your personality and situation.
What an extra $100 per month actually does.
Example 1 — $5,000 credit card at 19.99%
Min payments only: 27 years / $5,200 interest
With extra $100/mo: 2.5 years / $680 interest
TOTAL SAVINGS: $4,520 & 24.5 years
Example 2 — $15,000 line of credit at 8%
Min payments only: 10 years / $7,400 interest
With extra $100/mo: 6 years / $2,900 interest
TOTAL SAVINGS: $4,500 & 9 years
Example 3 — $30,000 combined debt at 12%
Min payments only: 20+ years / $25,000+ interest
With extra $100/mo: 5 years / $9,000 interest
TOTAL SAVINGS: $16,000 & 11 years
These numbers are estimates. Your actual results depend on your specific balances and rates — use the calculator above to see your personal numbers.
Other resources that may help.
Credit Counselling Society
Free non-profit credit counselling for Canadians. Help with debt management plans and budgeting.
Financial Consumer Agency
Government of Canada's free financial literacy tools, budgeting resources, and consumer protection info.
Talk to Sarah
A free 30-minute conversation with no obligation and no judgement. Sarah has helped BC families at every stage of their financial journey.
Your path to debt freedom starts today.
Debt consolidation, HELOC strategies, and budget restructuring can dramatically accelerate your payoff. Book a free call and we'll find the fastest lowest-cost path to financial freedom for your situation.
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