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Tax & Debt Strategy

Debt Reduction Calculator

Compare the snowball method (smallest balance first) with the avalanche method (highest interest rate first) to see which approach could work better for your situation.

Your Debts

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Total monthly payment: $1,030 (minimums + extra)

Snowball Method

Pay off smallest balances first for quick wins and motivation.

Debt-Free In5 yrs 11 mos
Total Interest Paid$7,966
Total Paid$53,466

Avalanche Method

Pay off highest interest rates first to minimize total interest.

Debt-Free In5 yrs 11 mos
Total Interest Paid$7,966
Total Paid$53,466

Balance Over Time

$0
$11,375
$22,750
$34,125
$45,500
Month 0Month 72
Snowball
Avalanche

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This calculator is for illustrative purposes only. Results are estimates based on the inputs provided and assume consistent payments and fixed interest rates. Actual results will vary. This is not financial advice. Please consult with a licensed professional before making financial decisions.