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Debt Destroyer Calculator

Compare Snowball vs Avalanche methods to see which debt payoff strategy saves you the most money and time.

Add Your Debts

Enter each debt with balance, interest rate, and minimum payment

Your Extra Monthly Budget

How much extra can you pay toward debts each month?

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Side-by-Side Comparison

See both Snowball and Avalanche methods side by side with clear metrics

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Interest Savings

Discover exactly how much interest you'll save with each method

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Debt-Free Timeline

Get your projected debt-free date for both strategies

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Motivation Tracking

Snowball method provides quick wins to keep you motivated

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Mathematical Optimization

Avalanche method minimizes total interest paid

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Mobile Friendly

Use on any device, anytime, anywhere

About the Debt Destroyer Calculator

Our free Debt Destroyer Calculator is a powerful financial planning tool designed to help you eliminate debt faster and smarter. Whether you're managing credit card debt, student loans, personal loans, or other obligations, this calculator compares two proven debt payoff strategies to show you exactly which method works best for your situation.

The calculator uses robust amortization math to provide accurate projections for both the Snowball Method (paying smallest balances first) and the Avalanche Method (paying highest interest rates first). You'll see your debt-free timeline, total interest paid, and the savings difference between both approaches.

Understanding the Two Debt Payoff Strategies

The Snowball Method focuses on building momentum by eliminating smaller debts first. This psychological approach provides quick wins that keep you motivated throughout your debt journey. While you might pay slightly more in interest overall, the motivation factor is invaluable for many people.

The Avalanche Method is mathematically optimal, targeting high-interest debts first to minimize total interest paid. This strategy saves you the most money in the long run, making it ideal for those who prioritize financial efficiency over quick wins.

How to Use This Calculator

Simply add each of your debts by entering the name, current balance, interest rate, and minimum monthly payment. Then input how much extra money you can dedicate to debt repayment each month. The calculator will instantly show you the payoff timeline and total interest for both methods, helping you make an informed decision.

Who Should Use This Tool?

Credit Card Holders

Manage multiple credit card balances with different interest rates and find the optimal payoff strategy.

Student Loan Borrowers

Plan your student loan repayment strategy across multiple loans with varying interest rates.

Personal Loan Users

Optimize repayment for personal loans, auto loans, and other installment debts.

Financial Planners

Create debt payoff plans for clients or personal financial management.

Frequently Asked Questions

The Snowball Method is a debt payoff strategy where you focus on paying off your smallest debts first while making minimum payments on all other debts. Once the smallest debt is paid off, you "roll" that payment amount into the next smallest debt, creating a snowball effect. This method provides psychological wins that keep you motivated throughout your debt journey.

The Avalanche Method is the mathematically optimal debt payoff strategy. You focus on paying off debts with the highest interest rates first while making minimum payments on all other debts. This approach minimizes the total interest you pay over time, making it the most cost-effective method for debt elimination.

It depends on your personality and financial goals. If you need motivation and quick wins to stay on track, the Snowball Method is better. If you want to save the most money and are disciplined enough to stick with it, the Avalanche Method is superior. Our calculator shows you the exact difference so you can make an informed decision.

Our calculations use robust amortization math that accounts for compound interest, minimum payments, and your extra monthly contributions. The projections are highly accurate for planning purposes, though actual results may vary slightly based on payment timing and any changes to your debts.

Yes, you can add as many debt rows as needed. The calculator dynamically handles any number of debts and provides comprehensive results for all of them using both payoff methods.