Financial Tools
Debt Payoff Calculator
Compare debt avalanche vs. snowball methods to find the best strategy for paying off your debts faster.
Your Debts
Enter information for each of your debts
Debt #1
Extra Monthly Payment
Additional amount you can put toward debt each month
Even an extra $25-50 per month can make a significant difference!
Payoff Methods
Debt Avalanche
Mathematically optimal - saves the most money in interest.
Best for: People motivated by saving money
Debt Snowball
Psychologically motivating - provides quick wins and momentum.
Best for: People who need motivation and quick victories
Debt Payoff Tips
Find Extra Money:
Cancel subscriptions, sell items, take on side work
Avoid New Debt:
Cut up credit cards or freeze them in ice
Automate Payments:
Set up automatic payments to stay consistent
Track Progress:
Use apps or charts to visualize your progress
Important: This calculator provides estimates. Actual results may vary based on payment timing, interest calculation methods, and other factors.
Debt Summary
Total Debt:$5,000.00
Total Min. Payments:$150.00
Extra Payment:$0.00
Total Monthly:$150.00