Compare different debt payoff strategies and see how they impact your net worth over time. Find the best approach for your financial situation.
Pay minimums on all debts, then distribute extra payments proportionally across all debts based on their remaining balances. Often the most mathematically optimal approach.
Pay minimums on all debts, then put extra money toward the debt with the highest interest rate. This saves the most money on interest over time.
Pay minimums on all debts, then put extra money toward the debt with the smallest balance. This provides quick psychological wins and motivation to continue.
Pay only the minimum required payment on each debt. This is the baseline approach that shows the cost of not paying extra.
Total Debt: $25,000
Note: Once debt is paid off, extra payments will be invested at the specified return rate.
| Month | Aggressive | Avalanche | Snowball | Minimum Only |
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These tools are for educational purposes only. For personalized financial advice, please consult with a qualified financial professional.