How to pay off debt faster
Two proven strategies decide the order you attack your debts. Both have you pay the minimum on everything, then throw every spare dollar at one target debt — the difference is which target you pick.
Debt avalanche — lowest total cost
The avalanche method targets your highest interest rate first. Because you kill the most expensive debt fastest, you pay the least interest overall and become debt-free soonest, mathematically. Choose this if you want to save the most money.
Debt snowball — fastest momentum
The snowball method targets your smallest balance first. You clear whole debts quickly, which feels great and keeps you motivated. It usually costs a little more interest than avalanche, but the psychological wins help many people stick with the plan.
Why the extra payment matters so much
Minimum payments are designed to keep you in debt for years — a large share goes to interest. Every extra dollar, by contrast, goes straight to principal. As each debt clears, its old minimum rolls into your extra payment, so your payoff accelerates month after month. Try raising the extra amount above and watch the debt-free date jump forward.
Frequently asked questions
Snowball or avalanche — which should I use?
If you're driven by numbers, use avalanche — it always costs the least interest. If you need motivation to keep going, use snowball — clearing small debts early builds momentum. This calculator shows both so you can compare the real difference for your situation.
What counts as the APR?
Use the annual interest rate on each debt — the number on your credit-card or loan statement (for example, 19.99% for many credit cards). The calculator converts it to a monthly rate for you.
Is my information saved?
No. Everything runs in your browser and nothing you type is stored or sent anywhere.