Debt Payoff Calculator
Compare debt snowball (lowest balance first) and avalanche (highest interest first) methods to find the best debt repayment strategy for you.
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Debt Payoff Strategies
Debt Snowball Method
Pay minimum on all debts, put extra money toward smallest balance. When smallest is paid off, roll that payment into next smallest. Great for motivation through quick wins.
Debt Avalanche Method
Pay minimum on all debts, put extra money toward highest interest rate. When highest interest is paid off, roll that payment into next highest. Saves the most money in interest.
Choose the method that best fits your financial situation and personality. The best strategy is the one you'll stick with consistently.