Create a personalized plan to become debt-free. Compare strategies, see timelines, and track your progress.
Pay minimum payments on all debts
Pay highest interest rate first (saves most interest)
Pay smallest balance first (quickest wins)
| Strategy | Payoff Time | Total Interest | Total Paid | Savings vs Standard |
|---|---|---|---|---|
| Standard Payment | 2.8 yrs | $2,847 | $19,347 | $0 |
| Avalanche Method | 2.5 yrs | $2,450 | $18,950 | $397 |
| Snowball Method | 2.6 yrs | $2,550 | $19,050 | $297 |
Avalanche method: Pay minimum on all debts, then put extra money toward the debt with the highest interest rate. This saves the most money on interest over time. Snowball method: Pay minimum on all debts, then put extra money toward the smallest balance first. This gives you quick wins and motivation to continue.
Even small extra payments can make a big difference. Start with whatever you can afford - $25, $50, or $100 extra per month. Use our slider to see how different amounts affect your payoff time and total interest saved. The more you can pay, the faster you'll be debt-free.
Debt consolidation can be helpful if you can get a lower interest rate, but it's not for everyone. Compare your current weighted average interest rate to the consolidation loan rate. Also consider fees and the new loan term. Use our tool to compare different scenarios.
Missing payments can result in late fees, penalty interest rates, and damage to your credit score. If you're struggling to make payments, contact your lenders immediately - many have hardship programs. Our tool can help you adjust your plan if you need to reduce payments temporarily.