Enter all your debts, set your extra monthly payment, and see which repayment strategy saves you more money — with a real month-by-month simulation.
This is the amount you can put toward debt above your minimum payments each month. Even $50 makes a significant difference.
Debt Avalanche — Pay the debt with the highest interest rate first, while paying minimums on everything else. When that debt is cleared, redirect its minimum payment (the "waterfall") to the next highest-rate debt. This minimizes the total interest you pay and is mathematically superior.
Debt Snowball — Pay the debt with the smallest balance first. You get early "wins" as debts are eliminated, which can help maintain motivation if you have many accounts. The trade-off is paying more in interest overall.
The best strategy is the one you stick to. If you know you need quick wins to stay motivated, the snowball might be worth the extra cost. If you are disciplined and want to minimize interest, the avalanche is the mathematically correct choice.
This simulation assumes minimum payments are made as entered and does not account for interest rate changes, missed payments, or income-based programs such as RAP. Results are estimates for educational purposes only.