Organize multiple debts and estimate how long repayment could take using different payoff approaches.
Your Debts
Add each debt with its current balance, annual interest rate, and required minimum payment.
Estimated Repayment Plans
These estimates assume fixed interest rates, monthly payments, and that the available extra payment is applied toward the current target debt.
Highest interest first
The avalanche approach directs the available extra payment toward the debt with the highest interest rate while maintaining required minimum payments on the others.
Smallest balance first
The snowball approach directs the available extra payment toward the debt with the smallest balance while maintaining required minimum payments on the others.
Estimated Payoff Order
Avalanche order
Snowball order
How To Read The Results
The avalanche method prioritizes the highest interest rate. The snowball method prioritizes the smallest balance. Your actual result can change if interest rates, minimum payments, fees, payment dates, or balances change.
These methods are repayment strategies rather than guarantees of savings. Check the terms of each account before making additional payments, particularly if a lender applies prepayment restrictions or other charges.