Debt Destroyer Calculator

Compare the Snowball vs. Avalanche method and estimate your debt-free timeline.

These calculations are illustrative estimates based on your inputs. Actual results may vary by lender.

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1. List Your Debts

2. Set Your Extra Payment

How much extra can you pay towards your debts each month? This is on top of your minimum payments.

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How to use this Calculator

Simple steps to clarity.

1

List

Add every debt with its Balance, APR, and Minimum Payment.

2

Fuel

Enter the "Extra Payment" you can afford monthly.

3

Compare

See which method (Snowball vs Avalanche) saves you more time or money.

What This Tool Is

  • • A Mathematical Model: It projects outcomes based strictly on the numbers (balance, APR, payment) you enter.
  • • A Comparison Engine: It helps you visualize the difference in interest and time between two standard strategies.
  • • A Planning Aid: Use it to set goals and track your own progress offline.

What This Tool Is Not

  • • Not a Guarantee: Actual payoff dates will vary if interest rates change (e.g., variable APRs) or if payments are missed.
  • • Not a Loan Offer: We do not offer consolidation loans, refinancing, or credit counseling services.
  • • Not Financial Advice: This tool cannot assess your broader financial health or legal insolvency options.

Debt Payoff Methods Explained

What Is the Debt Snowball Method?

The Debt Snowball Method is a payoff strategy often used for motivation. You list your debts from the smallest balance to the largest, regardless of interest rate. You pay the minimum on all debts, but put every extra dollar toward the smallest one.

Once it's paid off, you "snowball" that payment (its minimum plus the extra you were paying) onto the next-smallest debt. Our debt snowball calculator does this math for you instantly.

What Is the Debt Avalanche Method?

The Debt Avalanche Method is the mathematical counterpoint. You list your debts from the highest interest rate (APR) to the lowest. You pay minimums on everything, but all extra money goes to the debt with the highest APR.

Mathematically, this is often the most efficient way to reduce total interest paid. Our debt avalanche calculator helps you visualize potential savings.

Debt Snowball vs. Avalanche: Comparing the Approaches

Choosing between the debt snowball vs avalanche method is a personal decision.

  • S Consider the Snowball if: You prefer quick wins to help stay motivated. Paying off a small debt, even if it's not the mathematically optimal way, can give you the emotional boost to keep going.
  • A The Avalanche is often preferred if: You are purely numbers-driven. This method is mathematically the most efficient and will minimize interest costs.

Our snowball vs avalanche calculator is the best way to compare both plans side-by-side with your real numbers.

How to Use This Debt Payoff Planner

This tool is your interactive debt payoff planner.

  1. List Your Debts: Add all your debts, including their balance, APR, and minimum payment. This is especially useful as a multiple credit card payoff calculator.
  2. Set Your Extra Payment: Add any extra amount you can afford to pay each month. This is the "fuel" for your plan.
  3. Calculate: The tool instantly shows you both models, your estimated debt-free date, and your potential interest paid.

Why Use Our Calculator Over a Spreadsheet?

Many people look for a debt snowball calculator excel template or a debt snowball worksheet. While a spreadsheet can work, it's often complex, easy to break, and doesn't show you a side-by-side comparison.

Our tool is simpler, faster, and gives you an instant, clear answer without any formulas.

Are you sure?

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