It is always worth to have a proper plan before you start paying off your debt. Some moves can even damage your credit and it is not what you want while building a better financial future.

For instance, paying off your oldest loan or closing your oldest credit card account can damage your credit in two ways:

1. age of your credit history will be less than before (this factor accounts for 15% of your credit score) 
2. your types of credit in use can be less than before (10% importance in your credit score).

So while it is always good to have less debt, you need a strategy how to approach it:

• Pay off your youngest accounts first
• Pay out your accounts with biggest APR