Planning
Debt Snowball / Avalanche Planner
Plan your debt payoff strategy. Compare the snowball method (smallest balance first) vs. avalanche method (highest rate first) to find the fastest, cheapest path to debt freedom.
Debt Payoff Planner
Compare snowball and avalanche methods to find the fastest way to become debt-free.
How This Tool Works
How It Works
When you have multiple debts, this planner helps you decide which to pay off first using two proven strategies:
Snowball Method
- Pay minimums on all debts
- Put extra money toward the smallest balance first
- When that's paid off, roll its payment into the next smallest
- Advantage: Quick wins keep you motivated
Avalanche Method
- Pay minimums on all debts
- Put extra money toward the highest interest rate first
- When that's paid off, roll its payment into the next highest rate
- Advantage: Saves the most money mathematically
What You Enter
For each debt: name, balance, monthly interest rate, and minimum payment. Plus your total extra payment available.
What You Get
- Total months to become debt-free
- Total amount paid and total interest
- Payoff order
- Month-by-month schedule showing remaining balances