Welcome to the debt snowball/avalanche payoff calculator. This free tool enables you to enter all of your debts and compare the payoff scenarios between the debt snowball and debt avalanche methods.
Give the calculator a try and let me know what you think!
Step 1: Enter all of your debt information below.
We built this debt payoff calculator to help people eliminate their debt once and for all. As you use the calculator, keep the following in mind:
Remember that deciding on a debt repayment strategy is just the first step. Another critical strategy is to reduce your interest rates where possible. This may including transferring credit card balances to a 0% card, refinancing a student loan or car loan, or refinancing a mortgage.
For additional reading, here are some resources on the debt snowball: