List what you owe. We’ll compare the two proven payoff methods and show your debt-free date.
To get out of debt fastest, pay the minimum on everything and put any extra toward one debt at a time: the highest interest rate first (avalanche) usually costs the least, while the smallest balance first (snowball) gives quicker wins. This planner shows your debt-free date under both.
Educational only, not financial advice. This tool gives estimates based on what you enter and the stated assumptions. It is not financial, tax, or legal advice. Talk to a licensed professional before you make decisions. Everything is calculated in your browser, and nothing you type or upload leaves your device.
Avalanche usually saves the most interest because it targets the highest rate first. Snowball can be easier to stick with because small balances disappear sooner. The best method is the one you will keep doing.
The planner applies your monthly payment to your listed balances and rates month by month until every balance is paid. It assumes rates and payments stay the same.
Many people keep a small emergency cushion while paying down high-interest debt, so a surprise bill does not go back on a card. The right balance depends on your rates and job security.
Usually yes. Extra payments go straight to principal, which reduces future interest and can move your debt-free date noticeably. Enter different payment amounts to see the effect.