Sort by urgency and cost
Make upcoming due dates and higher-interest debts visible. The strategy changes depending on whether you need immediate liquidity or interest savings.
- Effective annual interest rate.
- Remaining term.
- Late-payment penalties.
Debt and smarter payments
Back to resourcesMeeting obligations
Prioritise and organise debts to reduce financing costs without putting essential expenses at risk.
Prioritise debts by cost, remaining term and urgency to restore stability.
A progressive repayment plan
Choose a main debt and set a monthly minimum payment plus a target extra amount, while still covering basic expenses.
What to watch
- Less stress from arrears.
- Lower late-payment costs.
- An orderly recovery of cash flow.
Negotiate with information
Before negotiating, gather dates, balances and your repayment capacity. Negotiation requires preparation.
Next step
To bring these habits together in one tool, visit the Prism Finance website or app.