Debt Payoff Calculator
Become debt-free faster with smart payoff strategies and consolidation analysis
Credit CardsAvalanche vs SnowballConsolidation Analysis
Choose Your Path to Financial Freedom - Compare different debt payoff strategies to find the one that works best for your situation. Whether you want to save the most money (avalanche) or build momentum with quick wins (snowball), we'll help you make an informed decision.
Credit Card Payoff Calculator
Minimum Payment Calculation
Minimum payment: $100
Smart Strategies
Compare avalanche vs snowball methods to find the optimal payoff strategy for your financial goals and personality
Save Money
See exactly how much interest you'll save by paying more than the minimum or consolidating your debts
Visual Progress
Track your debt-free journey with interactive charts showing balance reduction and payment breakdowns
Debt Payoff Strategies Explained
Understanding different approaches to becoming debt-free
Debt Avalanche Method
Pay minimums on all debts, then attack the highest interest rate first. This method saves the most money in interest charges.
- • Best for: Analytical, patient people
- • Pros: Maximum interest savings
- • Cons: May take longer to see first payoff
❄️ Debt Snowball Method
Pay minimums on all debts, then attack the smallest balance first. This method provides psychological wins.
- • Best for: People who need motivation
- • Pros: Quick wins build momentum
- • Cons: May pay more interest overall
When to Consider Debt Consolidation
- • You have multiple high-interest debts (credit cards, personal loans)
- • You qualify for a lower interest rate than your current debts
- • You want to simplify multiple payments into one
- • You're committed to not accumulating new debt