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

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.

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?

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.

• Using Debt Avalanche method, automatically re-orders all your debts in order of highest to lowest interest rates.
• Once a debt is paid off, the extra money available is automatically re-allocated to the next debt.
• Minimum payment can either be a percentage of principal owed or a dollar amount. If value entered is less than 1, it will be considered a percentage of the debt principal. If value is 1 or more, it will then be considered a dollar value.
• Each debt can have an amount provided for new monthly spendings. (ie. utilities bill, cellular bill, streaming service(s), gym membership, etc.)

• Option to remember your debt scenario by saving a cookie on your computer. See Privacy section below for more information
• Option to keep a history of your debt scenario so that you can track your progress toward your debt free day. Again, this would be saved on a cookie on your computer as we do not save "any information you submit" at our end.

Go to: Debt Avalanche 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