Discover which debt payoff strategy could save you the most money or get you debt-free fastest. Compare Snowball vs Avalanche methods based on your specific situation.
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Select the debt payoff method that works best for your situation and goals.
Additional amount you can apply to debt payoff each month
When a debt is paid off, automatically apply its minimum payment to the next debt. This is the true "snowball" effect that accelerates debt payoff.
Focus on paying minimum payments on all debts, then put any extra money toward the debt with the smallest balance. This provides quick psychological wins as you eliminate debts faster.
Focus on paying minimum payments on all debts, then put any extra money toward the debt with the highest interest rate. This typically saves the most money in total interest paid.
Focus on paying minimum payments on all debts, then put any extra money toward the debt with the smallest balance. This provides quick psychological wins as you eliminate debts faster.
Please enter at least one debt to calculate payoff strategies