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Debt Reduction

Fund your future, not your past

Getting rid of expensive debt is the foundation to a secure financial future.

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BrightPlan Goal Cards

Your personalized debt reduction plan

Our algorithms provide you with a custom debt payoff plan based on the specifics of your loans. It's as easy as 1,2,3.

  • icon roadmap

    Link your accounts

    Link the credit cards, student loans, car loans, personal loans, etc. you would like to eliminate.

  • icon target

    Commit to financial freedom

    Commit to paying more than your minimum payments each month, we'll show you where to apply them.

  • icon monitor

    Track your progress

    Follow our advice and easily track progress all the way to financial freedom.

Intelligent advice to keep you on track

The BrightPlan Debt Reduction Goal shows you:

  • 01

    Total Interest Saved

    We optimize your pay off plan to reduce the interest you pay over time.

  • 02

    Debt Over Time

    See how your debt balance changes as you pay off each balance.

  • 03

    Repayment Schedule

    Learn how to direct your total monthly contribution between accounts to maximize interest saved.

  • 04

    Debt/Income Ratio

    View your debt to income ratio, the same factor financial institutions use to decide if you’re credit worthy.

Automation for peace of mind

Once you’ve set up your monthly commitment, BrightPlan tracks your progress automatically. Follow the plan and we'll show you:

  • When you'll be debt free
  • How much you'll save on interest payments
  • Where to direct each payment, each month
  • Your debt-to-income ratio

BrightPlan uses the Debt Avalanche strategy to minimize the interest you pay when tackling debt.

Learn about the Debt Avalanche
Automation for peace of mind
  • Goal Business
  • Goal Debt Reduction
  • Goal Emergency
  • Goal Education
  • Goal Home
  • Goal Business
  • Goal Travel
  • Home Purchasing

    A dream home starts with a real plan

    Let BrightPlan guide you step by step to your new front door.

    Learn more
  • Entrepreneurship

    Big dreams for a small business?

    Prepare to make the leap by giving yourself a strong financial foundation.

    Learn more
  • Travel

    Meet your new travel planner

    Set a travel goal in minutes and start funding it right away.

    Learn more
  • Retirement

    Retire inspired

    Accelerate towards financial independence with a personalized retirement plan.

    Learn more
  • Debt Reduction

    Your roadmap to living debt-free

    Your paycheck can fund your future, not your past. Move towards living debt-free with a solid plan.

    Learn more
  • Emergency Fund

    Save up for peace of mind

    An emergency fund protects your stuff, your family, and your other financial goals.

    Learn more
  • Education

    Education planning that makes the grade

    Get the degree but dodge the debt with a solid plan to pay for college.

    Learn more

FURTHER READING

[1] Vanguard Statistic: For the 10-year period ended December 31, 2017, 9 of 9 Vanguard money market funds, 51 of 55 Vanguard bond funds, 21 of 22 Vanguard balanced funds, and 101 of 108 Vanguard stock funds—for a total of 182 of 194 Vanguard funds —outperformed their Lipper peer-group average. Results will vary for other time periods. Only mutual funds with a minimum 10-year history were included in the comparison. The competitive performance data shown represent past performance, which is not a guarantee of future results.

[2] Dimensional Statistic: Performance data shown represents past performance and is no guarantee of future results. Beginning sample includes funds as of January 1, 2002. The number of beginners is: Industry - 3,545 and Dimensional - 29. Outperformers (winners) are funds with return observations for every month of the 15-year period whose cumulative net return over the period exceeded that of their respective benchmark. US-domiciled open-end mutual fund data is from Morningstar and Center for Research in Security Prices (CRSP) from the University of Chicago. Performance of each fund in the industry sample are evaluated relative to the fund’s Morningstar Category Index. Dimensional fund data provided by the fund accountant. Dimensional funds exclude VA funds and those distributed exclusively through Loring Ward. Performance of Dimensional funds measured against prospectus benchmarks. When evaluating the Dimensional funds relative to the fund’s Morningstar category index, 79% outperform. For further methodology details, see DFA’s Mutual Fund Landscape brochure.

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