Are you burdened by a mountain of debt? Is it a constant struggle for you to be debt-free? Are you stressing over whether you will ever get out of your debt? Use our debt calculator to find out. If you can save a little extra money each month to put towards your debt, slowly and surely, you will be able to eliminate all your debt and live stress-free.
There are two systematic ways to pay down your debt – the snowball method and the avalanche method. In either case, be sure to pay the minimum balance for each of your debts. The avalanche method pays highest interest debt first so that you pay lower interest overall. The snowball method prioritizes lowest balance debt. You will pay higher interest overall, but this method helps some people feel more motivated as they knock out smaller balances entirely. Another motivation for paying off lower balances first is to help with your credit score. Learn how to improve your credit score by clicking here.
Extra cash available each month: $
|Pay highest interest debt first|
|Pay lowest balance debt first|