Setting a goal for paying off a mortgage, auto loan, credit card or personal loan makes good financial sense. Some loans, such as mortgage or auto loans have defined repayment periods. Others do not. In order to reach a debt repayment goal, you'll 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.

Please Note: Information and interactive calculators are made available only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regard to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.