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Debt Freedom Tool

Debt Payoff Calculator

Create a personalized plan to crush your debt using the Avalanche or Snowball method. See exactly when you'll be debt-free.

Total Debt

$17,000

Monthly Minimums

$450

Your Debts

$
%
$
$
%
$
$

Amount above minimum payments you can put toward debt

Avalanche vs Snowball: Which is Better?

🔥 Avalanche Method

Pay off debts from highest to lowest interest rate. This mathematically saves the most money in interest charges. Best if you're disciplined and motivated by long-term savings.

❄️ Snowball Method

Pay off debts from smallest to largest balance. You'll see debts disappear faster, building momentum and motivation. Best if you need psychological wins to stay on track.

The Truth

The best method is the one you'll stick with. Avalanche saves more money, but snowball has higher completion rates. Both beat minimum payments only.

Pro Tips

  • Build a $1k emergency fund first to avoid new debt
  • Look into balance transfer cards for high-interest debt
  • Cut expenses temporarily to accelerate payoff
  • Celebrate each debt payoff to stay motivated

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