Debt Payoff Planner: avalanche vs snowball vs consolidation vs balance transfer

Your debts

Quick start

Your debts, what you can pay each month and the order. Everything else uses typical assumptions; open the sections below to fine-tune.

Total I can pay each month toward all debts

Which debt gets the extra first

Consolidation loan

A personal loan at a fixed rate that pays off the debts you pick. Shown in the comparison either way.

Loan APR from the quote

Term

Origination fee typically 0–10%

The fee is

Debts it pays off

Balance transfer

A new card with a low promo rate. Shown in the comparison either way.

Promo APR usually 0%

Promo length

months

Transfer fee typically 3–5%

APR after the promo

Credit limit the fee counts against it

Debts that move

Minimum payments

Each debt's rule is under its Options. Card minimums shrink as the balance falls; loans keep a fixed payment.

1% + interest: 1% of the balance plus the month's interest, the most common card rule.
% of balance: a flat share, often 2–3%.
Fixed: the amount you enter, like a loan payment.

Most cards also have a floor, typically $25–$40. These are typical issuer rules, not official ones: check your statement.

Behavior

Roll freed-up minimums into the next debt

When a debt is paid off, its payment moves to the next one, so you keep paying the same total each month.

One-off lump sum a bonus or tax refund

In month 1 = next month

Savings comparison

Interest on your cash savings /yr

For the "pay debt or keep cash" note. 4% is a typical high-yield savings rate.

What you owe, month by month

Payoff order on your plan

Lighter: minimum payments only. Darker: the debt is getting the extra money.

Month-by-month payments, interest and balance on your plan
Month	Paid	Interest	Still owed	Note

Five ways to pay it off

Debt-free date, interest, fees and total cost for each plan
Plan	Debt-free	Interest	Fees	Total cost

What could go wrong

Debt-free date and total cost for each stress test
Scenario	Debt-free	Total cost	Change

Total cost is interest plus any loan or transfer fee.