Debt payoff calculator
Snowball or avalanche: see with your own numbers which order gets you debt-free sooner and which saves more.
An estimate based on the figures you enter; not financial advice.
Bring these numbers into your everyday life
MonVault's debt planner keeps track of your debts, reminds you of payments and shows month by month how far you are from being debt-free.
Snowball and avalanche in a nutshell
With both methods you always pay the minimum on every debt and put all the extra money into just one. When it is gone, its payment rolls into the next. Only the order changes.
The avalanche starts with the highest rate and costs the least. The snowball starts with the smallest balance: it costs a little more, but seeing debts disappear early is very motivating.
📖 Learn more: Debt snowball or avalanche: which order to pay off your debts
Frequently asked questions
What happens if I miss a minimum payment?
You usually get late fees, penalty interest and a mark on your credit record. That costs more than any method saves, so minimum payments always come first.
Should I consolidate my debts?
Only if the new loan has a clearly lower rate and does not stretch the term much: a lower payment in exchange for more years can end up costing more. Compare the total cost, not just the monthly payment.
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