Your Debts
NameBalanceAPR %Min Payment
$
$
$
$
$
$
Strategy
$
Payoff Summary
Months to Debt-Free
38 mo
Total Interest
$4,580.00
Interest Saved
$2,980.00
Monthly Payment
$660.00
Total debt: $20,500.00. With $200.00/mo extra, you save $2,980.00 in interest vs. minimum payments only.
Frequently Asked Questions
Avalanche vs Snowball — which is better?
The avalanche method (highest-rate first) saves the most money in interest. The snowball method (lowest-balance first) provides psychological momentum by eliminating debts faster. Most financial experts recommend avalanche, but snowball works better if you need motivation to stick with the plan.
How much should I put toward extra debt payments?
Even $50–$100 extra per month can dramatically reduce payoff time and interest. The key is consistency. Start by cutting one discretionary expense and directing that amount to your highest-interest debt.
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