Put it all on the table
List every debt, with the amount left, the interest rate and the minimum payment. Include each person's own debts. Seeing the whole picture is the first step.
Pick a method
Both of these work. Choose the one you will keep up.
- Avalanche: pay the debt with the highest interest first. It costs the least overall.
- Snowball: pay the smallest debt first. The quick wins can keep you motivated.
- Either way: pay the minimum on all of them, and put every extra euro on the one you chose.
Make room in the budget
Find the extra by looking at your categories and subscriptions, then set it as a fixed monthly amount. Wollie shows your spending by category and your goals together, so you can see the amount you free up and track the month.
Questions
Should we pay off debt or save first?
Many people build a small emergency fund first, then pay off debt, then grow savings. Your own situation and interest rates matter, so consider advice if you are unsure.
Are we responsible for each other's debt?
It depends on the country, whether you are married, and whether you signed for the debt together. Check the rules where you live.
This guide is general information, not financial advice.