💳 Debt Payoff Planner

Avalanche vs snowball payoff comparison.

What it does

Simulates paying off multiple debts with two strategies — avalanche (highest interest first) and snowball (smallest balance first) — plus your extra monthly payment.

When to use it

Use it to choose a payoff order and to see how much an extra monthly payment saves in interest.

Assumptions
  • All debts accrue interest monthly; minimums stay fixed.
  • The extra payment goes entirely to one target debt each month.
  • No new debt is taken on during the payoff.
Inputs
Enter up to 4 debts. Leave balance blank for unused rows.
Debt 1
%
Debt 2
%
Debt 3
%
Debt 4
%
Pro tip

The math almost always favors avalanche — pay the highest-rate debt first. But if you are the type who gives up, snowball's quick wins may keep you going, and staying consistent beats the 'optimal' plan you abandon. Either way, the extra payment is what accelerates everything.