Tools → Debt Payoff Planner
Debt Payoff Planner
Understand your debt payoff. Make your own decisions. Take control of your future.
Enter all your debts, add an extra monthly payment, and compare avalanche vs. snowball side by side.
Pays off highest-interest debt first. Minimizes total interest paid — mathematically optimal.
Your debts
How this is calculated
We simulate paying your debts month by month under the avalanche or snowball method and show your payoff date and total interest vs. paying minimums only.
The steps
- Order debts by the chosen strategy: avalanche (highest APR first) or snowball (smallest balance first).
- Each month: add interest to every balance, pay the minimums, then throw all your extra payment at the priority debt.
- Repeat until everything is paid, recording the payoff month and total interest.
- Compare against a minimum-only schedule to show interest and time saved.
Assumptions
- Fixed APRs and minimum payments; the extra payment stays constant.
Good to know
- Avalanche saves the most interest; snowball can help motivation. Real minimums often shrink with the balance.
- If your payments don’t cover the monthly interest, the plan never pays off — the tool flags this instead of showing a payoff date.
Related resources
Educational disclaimer: All content on WealthSerene.com is for educational purposes only and does not constitute investment advice. Projections and calculations are illustrative — actual results will vary based on market conditions, your specific situation, and many factors outside this tool’s scope. Always consult a qualified financial professional for advice specific to your situation. View full disclosures →