Debt Payoff Calculator & Planner (Snowball vs. Avalanche)
Disclaimer
Drowning in credit card debt? Wondering which loan to pay off first? Pixedra’s Debt Payoff Planner does the math for you.
Instead of guessing, use this tool to compare the two most popular debt-reduction strategies: the Debt Snowball (Psychological wins) and the Debt Avalanche (Maximum Interest Savings). Enter your debts, set your extra monthly budget, and see the exact date you will become Debt-Free.
How It Works
- List Your Debts: Enter each of your debts, including the current balance, interest rate (APR), and minimum monthly payment.
- Add Extra Payments: Enter any extra amount you can afford to pay each month. This is the key to getting out of debt faster.
- Compare Methods: The calculator instantly shows you a side-by-side comparison of the Snowball and Avalanche methods, including your debt-free date and total interest saved for each.
Snowball vs. Avalanche: Which is Right for You?
Debt Snowball
Pay off debts from smallest balance to largest. This gives you quick wins and builds momentum.
Best for: Motivation & building habits.
Debt Avalanche
Pay off debts from highest interest rate to lowest. This saves the most money over time.
Best for: Saving money & mathematical efficiency.
Frequently Asked Questions
Income Check
Need to find extra money to pay off debt? Check your take-home pay with our Hourly to Salary Calculator.
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