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debt-payoff-calculator
Your Debts
Debt Name
Balance
Interest Rate
Min Payment
$
%
$
$
%
$
$
%
$
$
%
$
Total Debt: $19,500Total Min Payments: $440/mo
$200
Total monthly payment: $640 · Extra payment gets directed to target debt
❄️ Avalanche saves more interest
Avalanche saves $2,950 in interest over Snowball
$2,950 saved
Which Method Should You Choose?
⛄ Snowball is best if…
✓You struggle with motivation
✓You want quick early wins
✓Your debt balances are similar in size
✓You have several small debts to eliminate
❄️ Avalanche is best if…
✓You want to minimize total interest paid
✓You have high-rate credit card debt
✓You're mathematically motivated
✓You can commit to a long-term plan