If you only have one $5,000 credit card to pay off and your resolution for the new year is to pay off all debt by the year's end, we're not worried about you. But if you have tens of thousands of dollars in student loan debt and a mortgage and your goal is to become debt-free in 12 months, we are kindly urging you to settle yourself down. Setting too big of a goal provides a breeding ground for stress and potential (nay ... probable) failure.
Instead: Work toward chipping away at specific debt. If you've got some debt that you could feasibly start paying more on in order to eliminate it under a tighter timeframe, try that.
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