Debt Snowball Calculator.

Accelerated Debt Repayment Calculator

Debt Snowball Instructions: Ordered from smallest balance to highest balance, enter the name, current balance, interest rate and minimum payment amount for all of your debts (up to a maximum of 10 debts). Next, enter a monthly dollar amount you could add to your accelerated debt payoff plan. Then, click the "Calculate Results" button.

Debt Avalanche Instructions: For the debt avalanche method the instructions are similar to the above, with the exception that you would put the debt with the highest interest rate first.

Entry Columns Calculated Columns
# Creditor Principal
Balance ($)
Rate (%)
Amount ($)
# of Pmts
Monthly dollar amount you can add to your debt payoff plan:

Results Principal
# of Pmts
Current totals:
ADP totals:
Time and interest savings from Accelerated Debt Payoff Plan:

Note: If you include your mortgage in your Accelerated Debt Payoff Plan, be sure to enter only the principal & interest portion of your monthly mortgage payment (don't include monthly tax and insurance portion).

This calculator will show you how much time and money you could save by paying off your debts using the "rollover" method. Using the rollover method, as each smaller debt is paid off, the freed-up payment amount is free to snowball onto the next larger debt, and so on until all debts are paid off. As you are about to see, the rollover method can save you a ton of money in interest charges, and get you debt free in a very short period of time.

The default instructions on this calculator tell borrowers to put their smallest debts first. This method is called the debt snowball method.

An alternative approach is to put the highest interest rate debt first. This alternative method is called the debt avalanche method.

From a purely mathematical standpoint, the debt avalanche method will save the borrower more interest expense than the debt snowball method. However, as people we are ever bit as much driven by emotion as logic, and by placing our smallest debts first we can see quick wins from our efforts that give us encouragement to keep fighting our personal debt mountains until we have them fully repaid. There is an emotional satisifaction that comes from paying a bill off & needing to pay fewer bills each month.

Current San Diego Personal Loan Rates

We publish current San Diego personal loan rates to help borrowers compare rates they are offered with current market conditions and connect borrowers with lenders offering competitive rates.

Settle Your Debts Responsibly

Debt Monster.

Lending principles are learned at young ages, as kids and teens buy things on credit.  Bikes and other big-ticket items are beyond their means, so kids rely on generous gifts and installment plans to secure things before they can really afford them.  Even when loans originate from mom and dad, they are sometimes laden with interest responsibilities.  In this example, interest-paid might be household chores, but the essential message still comes through clearly:  Buying ahead comes with interest attached.

As they age, teens' consumer appetites grow, expanding to sports equipment, mobile phones, designer clothes, and eventually automobiles.  Store cards and other resources enter then picture, as well as mobile phone contracts and other financial obligations.  Retaining multiple debts adds another dimension to managing payback, which prepares young borrowers for the credit realities they'll face as adults. Accelerated debt payoff calculator highlights various credit scenarios, reinforcing repayment lessons learned at an early age.

Managing Debt

Consumers seek financing for a variety of purchases, ranging from everyday necessities, to long-term buys like homes and cars.  As a result, credit offers and financing strategies are all over the board in terms of interest rates and monthly payment obligations.  It is up to each borrower to keep debt within reasonable means, making payments on-time.

Eventually, adults carry credit cards, mortgages, car loans, student loans and other debts.  While it is easy to consider them a single responsibility, each individual loan or card actually has its own unique conditions.

Mortgages, for example, are installment loans based on set principal amounts, which are broken-down into equal monthly payments, with interest attached.  Because they are long-term loans, with real property as collateral, the rates attached to mortgages are often very low when compared to other forms of credit.

Credit cards, on the other hand, are revolving credit sources, allowing for continuing purchases and subject to variable repayment terms.  Short-term loans given on a revolving basis carry more risk than traditional mortgages and other installment loans, so interest rates on credit cards are extremely high, compared to the single-digit rates attached to home loans, which are as low as 3-4% in recent months.

Prioritize and Rollover Payments

Life lessons about credit and interest are applied toward debt reduction for most of our lives, especially when multiple loans and other debts crowd our financial ledgers.  We learn to prioritize payback as youngsters, clearing the board for future purchases by keeping pace with payments we owe.  As adults, the principle is formalized into a solid debt repayment strategy, which accelerates the process and preserves borrowers' credit ratings.

Rollover accelerated debt repayment follows a strict approach toward debt reduction.  First, cards and loans must be evaluated in terms of the interest they draw each month.  Debts tied to the highest interest rates are then prioritized for repayment, so the costliest loans are paid-off first.  As each debt is erased, it falls from the payment slate, opening-up cash for other purposes.  Rather than integrating the windfall into daily life, rollover debt repayment dictates that it is applied instead to the next highest-rate debt.

By repeating the process and maintaining discipline toward where payments are placed, repayment is accelerated and substantial interest savings result.  Accelerated debt payment calculator hashes-out various scenarios, illustrating the savings.