Proof of Budget

Payoff simulator

Snowball vs. Avalanche

Two honest ways to pay off debt, side by side on your own numbers. Enter what you owe, add anything extra you can manage each month, and see payoff order, months to debt-free and total interest for each plan. No shame here: every debt on this page is simply a number with a finish line.

Your debts

One bill stub per debt. Use the figures from your latest statement, or round them. Nothing leaves this page.

    Both plans spend exactly the same total every month, so the comparison is fair.

    The race

    Your two payoff plans

    Enter at least one valid debt above and the plans will appear here.

    Plain talk

    Two plans, one goal

    Both plans do the same thing for most of the journey: pay every minimum on time. They differ in just one choice, which debt receives the extra money.

    Snowball

    Put every extra dollar on the smallest balance. When it is gone, its whole payment rolls onto the next smallest. You clear debts quickly at the start, which feels good and can keep you going. It may cost more interest, because a small balance is not always the expensive one.

    Avalanche

    Put every extra dollar on the highest interest rate. When it is gone, its payment rolls onto the next highest rate. Because expensive interest gets stopped first, this plan generally costs the least in total. The first win can take longer to arrive.

    Which one is better?

    The one you will stick with. If the two plans land close together on your numbers, many people choose the one whose first win feels motivating. If one saves meaningfully more, you now know what that choice costs. Either way, you are paying debts down, and that deserves credit.

    Using the simulator

    1. Add a stub for each debt: a name, the current balance, the yearly interest rate (APR) and the minimum monthly payment.
    2. Optionally enter an extra monthly amount you can really sustain.
    3. Read the two trays: months until debt-free, total interest, payoff date and the order debts disappear in.
    4. Press "Send monthly payment to the planner" to give your debt payments their own envelope.

    Assumptions and edge cases

    • Interest is the yearly rate divided by twelve, added to each balance every month before payments.
    • Rates and minimum payments stay fixed, and no new charges are added. Real minimums often shrink as balances fall.
    • The total paid each month is the same in both plans: all minimums plus your extra. A paid-off debt's payment rolls forward.
    • If a minimum is smaller than a month's interest and nothing else covers it, that debt never shrinks. The page names it and asks you to raise the payment.
    • Plans longer than one hundred years are reported as "not paid off" instead of a date.
    • Rows with a blank, zero or invalid balance, or an invalid rate, are skipped and flagged. Everything here is a simulation, not financial advice.