Debt Payoff Planner
List your debts and your monthly budget, and get a concrete plan: what to pay, to which debt, starting when. The plan uses the avalanche method - minimums on everything, then every spare dollar at the highest interest rate first - because it is mathematically the cheapest way out of debt. The budget section shows how much cutting your flexible spending accelerates the payoff.
Your monthly budget
$
$
$
Your debts
Debt nameBalanceAPR %Min /mo
Results
Total debt
$0
Debt-free in
-
Total interest
$0
Saves vs minimums
$0
Balance over time
Your plan Minimums only
Your payoff plan - what to pay, and when
Each month, every debt accrues interest at APR÷12, minimum payments are made on all active debts, and your budget surplus (take-home income minus essentials, minus the flexible spending you keep, minus all minimums) goes to the highest-APR debt - plus the minimums freed up by already-cleared debts. Attacking the highest rate first is always the cheapest path out of debt. If a debt's minimum doesn't cover its monthly interest, it will never amortize - the plan will flag it.