Enter your debts, extra payments, and choose a method to see your personalized payoff plan, including debt-free date, total interest paid, interactive progress chart, and monthly schedule.
The Debt Snowball and Avalanche are popular strategies popularized by financial experts like Dave Ramsey (Snowball) and optimized for math (Avalanche). Both involve paying minimums on all debts while focusing extra payments on one debt at a time.
When a debt is paid off, its minimum payment "rolls over" to the next targeted debt, accelerating the process. Our calculator simulates this month-by-month, accounting for interest accrual.
Research from the Journal of Consumer Research shows behavioral methods like Snowball can improve adherence, even if Avalanche saves more on paper.
For more: Read this comparison guide.
Getting out of debt isn't just about numbers—it's about freedom. Benefits include:
Explore related tools: Budget Planner or Savings Goal Calculator.
Users like you have shared: "Using the Snowball method, I paid off $20k in credit cards in 18 months— the quick wins kept me going!" Share your story in the comments or on social media.
Pro tip: Combine methods—start with Snowball for motivation, switch to Avalanche for savings.
Avalanche saves more on interest, but Snowball provides psychological boosts that help many stick to the plan. Try both in our calculator to see the difference.
Yes, it applies minimum payments to all debts monthly, plus interest, while directing extras to the targeted debt.
Enter 0% rate. Prioritize them manually if the promo ends soon; otherwise, they fit naturally into the strategy.
Our model assumes fixed minimums. For variable mins (e.g., percentage of balance), estimate an average or update as balances drop.
Yes! Increase your extra payment or find ways to earn more/reduce expenses. Run scenarios in the calculator.
It can be if it lowers your average interest rate. Use our tool to compare before and after consolidation.