Tool · 06
Debt payoff planner
List your debts, add whatever extra you can throw at them each month, and compare the two payoff orders. Avalanche saves the most interest; snowball clears accounts fastest.
Total owed
$37,100
Debt-free in
6 yr 5 mo
Total interest
$7,252
Your debts
NameBalanceAPR %Min
On top of every minimum. This is the money that does the real work.
Method
Highest APR first. Pays the least interest overall.
Payoff order
- 01Credit card23.9% · $6,200
- 02Car loan7.5% · $12,400
- 03Student loan5.2% · $18,500
Interest compounds monthly on each balance. The plan assumes your payment stays the same every month and rolls a finished debt's payment onto the next one. Promo 0% periods and fees are not modeled.
Read the topic
Read the snowball-vs-avalanche math →