Debt payoff planner
Two strategies, one honest comparison: the avalanche saves the most interest, the snowball keeps the most people going. See both timelines for your actual debts. Estimates for understanding, not financial advice.
AVALANCHE (HIGHEST RATE FIRST)
6y 5m
$10,858 total interest
SNOWBALL (SMALLEST BALANCE FIRST)
6y 5m
$10,858 total interest
MINIMUMS ONLY
10y 2m
$22,055 total interest
IN PLAIN ENGLISH
With $300.00 extra per month, the avalanche method (attack the highest interest rate first) is debt-free in 6y 5m and costs $0 less in interest than the snowball. The snowball’s edge is psychology, not math — your first paid-off account (Credit card, month 21) arrives sooner, and finished accounts keep people going. Here the difference is small — pick whichever you'll actually stick with. Paying minimums only costs $11,198 more than the avalanche.
- 01Credit card — paid off in month 21 (1y 9m)
- 02Car loan — paid off in month 40 (3y 4m)
- 03Student loan — paid off in month 77 (6y 5m)
ESTIMATES FOR UNDERSTANDING, NOT FINANCIAL ADVICE. ASSUMES FIXED RATES AND NO NEW CHARGES. CALCULATIONS RUN IN YOUR BROWSER — NOTHING IS SAVED OR SENT.
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