How it Works

1. Add each loan with Type, Name, Balance, APR %, and Minimum Payment.
2. Choose Snowball (smallest balance first) or Avalanche (highest APR first) and set your extra monthly amount.
3. Click Run Payoff Plan. We compute monthly interest, pay minimums on all loans, and aim the extra at one loan until it’s gone. When a loan is paid off, its minimum rolls into your budget automatically.

What is the Debt Snowball method?

Debt Snowball focuses on paying off your smallest balances first while making minimums on all others. Each win frees up cash (“the snowball”) that rolls into the next debt. It’s popular because quick progress can boost motivation and follow-through.

What is the Debt Avalanche method?

Debt Avalanche pays the highest APR first to minimize total interest paid. It’s mathematically efficient — often cheaper overall — especially for high-interest credit card debt.

Which is better: Snowball or Avalanche?

If staying motivated is hard, Snowball usually keeps people engaged. If you’re already consistent and want to pay the least interest, pick Avalanche. This planner lets you switch between both and compare the payoff dates and total interest side-by-side.

Tips to Pay Off Faster

• Add even $25–$50 extra per month — the roll-over effect compounds quickly.
• When a loan is paid off, keep paying the same total amount (don’t drop your budget).
• Revisit your plan if rates change or you can add more extra payment.

Disclaimer: Informational only. Not financial advice. Verify calculations before making decisions.