Eliminate Your Debts Faster

Want to know when you can be free of debts? This calculator might help you.

Debt Snowball vs Debt Avalanche

There are two popular methods for paying down your debts faster. The Debt Snowball and the Debt Avalanche (also known as "Debt Stacking").

Both methods start with a list of all the debts you want to manage. Debt Avalanche method will arrange these debts in order of highest to lowest interest rate while the Debt Snowball method will arrange them from the smallest to the largest amount due.

Both methods will require you to pay the minimum amount due on each debt monthly and the extra funds available will then go to the debt at the front of the list. The Debt Avalanche method will help you save the most money overall while the Debt Snowball method can help keep you motivated with faster elimination of smaller debts.

This calculator uses the "Debt Avalanche" method.

An excellent description of the pros and cons of each debt repayment method is available here: Debt Snowball vs. Debt Avalanche: What's the Difference?

Why use this calculator?

While a lot of web sites will provide you some tutorial on how to apply Snowball or Avalanche methods, most of them provide only a final result using the information you provide. I haven't found one yet that provides me with a flexible calculator that can fit most scenarios I have encountered with friends over the years and I also like to see when each of my debts get eliminated. This is what this calculator provides.

Completed features Upcoming features

Go to: Debt Avalanche Calculator

Loan Amortization Calculator

Want to buy a car? A home? Pay off a single loan?
Use this easy Loan Amortization Calculator to find out your monthly payment amount based on Loan amount, Loan Duration in months and Interest rate.

This amortization schedule will also show you a table with your monthly progress throughout the life of the loan.

Go to: Amortization Calculator

The material and information contained on this website is for general information purposes only.
You should consider whether the information is appropriate to your needs and, where appropriate, seek professional advice from a "Financial Adviser".
Beware of the important differences between Financial Advisers and Financial Advisors
While we endeavor to keep the information up to date and correct, Indyo Systems Inc. makes no representations or warranties of any kind,
express or implied about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information,
products, services or related graphics contained on the website for any purpose.
Any reliance you place on such material is therefore strictly at your own risk.

Indyo Systems Inc. will not be liable for any false, inaccurate, inappropriate or incomplete information presented on the website.

As we do not want any concerns about privacy, here is how we store information and our recommendations on what information you should provide:
- We do not ask for any of your personally identiable information.
- When giving a name to each of your debts, make sure that you do not enter any personal identifiable information
- We do not keep track of you, your profile or your session information like browser usage and IP address
- If your browser allows it, we can save a cookie containing your debt scenario. If you delete your cookies or do not allow cookies, you will need to re-enter your entire debt scenario at each visit.