Calculate how fast you can become debt-free. Compare snowball vs avalanche methods and see your exact payoff date.
Fill in your current debt details
Avalanche: Pay off highest interest rate debts first. Saves the most money long-term.
Snowball: Pay off smallest balances first. Provides quick wins for motivation.
Excellent! Your aggressive payment plan minimizes interest costs.
Avalanche method pays off debts with the highest interest rates first, saving you the most money in interest.
Snowball method pays off smallest balances first, giving you quick wins for psychological motivation.
Increase your monthly payment even slightly (extra $25-50/month makes a big difference), make bi-weekly payments, apply any windfalls (tax refunds, bonuses) to debt, and consider a balance transfer to lower interest rate.
High interest rates compound monthly. Even a small balance can accumulate significant interest over time. The solution is to pay more than the minimum - even $25 extra per month dramatically reduces total interest.
Pair your debt payoff plan with a savings challenge to build wealth simultaneously
Total Debt Amount: $5,000
Annual Interest Rate: 18%
Monthly Payment: $200
Payoff Method: Avalanche (Highest Interest First)
Debt-Free Date:
Time to Payoff: 0 months (0.0 years)
Total Debt: $5,000
Total Interest Paid: $0
Total Amount Paid: $0
Excellent! Your aggressive payment plan minimizes interest costs.