See how fast you can become debt-free with the snowball or avalanche method
Pay off smallest balance first. Make minimum payments on everything else. When the smallest debt is gone, roll that payment into the next smallest. Quick wins keep you motivated. Recommended by Dave Ramsey.
Best for: People who need motivation. Seeing debts disappear keeps you going.
Pay off highest interest rate first. Make minimum payments on everything else. Mathematically saves the most money. Takes longer to see first debt disappear but costs less overall.
Best for: People who want to save maximum money. Requires patience and discipline.
Enter all your debts including credit cards, car loans, personal loans, and student loans. Add any extra money you can put toward debt each month beyond the minimums. Then choose either the Snowball method (smallest balance first) or Avalanche method (highest interest first) to see your personalized payoff plan with exact dates and interest saved.
If you have good credit (680+), a debt consolidation loan at 8-12% can replace multiple credit cards at 20-25%. This saves money and simplifies payments. However, consolidation only works if you stop using the credit cards. Otherwise you end up with the consolidation loan PLUS new credit card debt — making the problem worse.
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