Question 1

What is the debt avalanche method?

Accepted Answer

Pay minimum on all debts, then put extra money toward the highest-interest debt first. This minimizes total interest paid.

Question 2

What is the debt snowball method?

Accepted Answer

Pay minimum on all debts, then put extra money toward the smallest balance first. This provides psychological wins to stay motivated.

Question 3

How much faster can I pay off debt with extra payments?

Accepted Answer

Even $50–$100 extra per month can cut years off your debt payoff timeline. Use this calculator to see exactly how much you'd save.

Question 4

Should I pay off debt or invest?

Accepted Answer

If your debt interest rate is higher than expected investment returns (typically 7–10%), pay off debt first. For low-rate debt under 4%, investing may make more sense.

Month	Payment	Principal	Interest	Balance
1	$380.90	$155.90	$225.00	$14,844.10
2	$380.90	$158.24	$222.66	$14,685.86
3	$380.90	$160.61	$220.29	$14,525.25
4	$380.90	$163.02	$217.88	$14,362.22
5	$380.90	$165.47	$215.43	$14,196.75
6	$380.90	$167.95	$212.95	$14,028.80
7	$380.90	$170.47	$210.43	$13,858.33
8	$380.90	$173.03	$207.88	$13,685.31
9	$380.90	$175.62	$205.28	$13,509.69
10	$380.90	$178.26	$202.65	$13,331.43
11	$380.90	$180.93	$199.97	$13,150.50
12	$380.90	$183.64	$197.26	$12,966.86

Month	Payment	Principal	Interest	Balance
1	$380.90	$155.90	$225.00	$14,844.10
2	$380.90	$158.24	$222.66	$14,685.86
3	$380.90	$160.61	$220.29	$14,525.25
4	$380.90	$163.02	$217.88	$14,362.22
5	$380.90	$165.47	$215.43	$14,196.75
6	$380.90	$167.95	$212.95	$14,028.80
7	$380.90	$170.47	$210.43	$13,858.33
8	$380.90	$173.03	$207.88	$13,685.31
9	$380.90	$175.62	$205.28	$13,509.69
10	$380.90	$178.26	$202.65	$13,331.43
11	$380.90	$180.93	$199.97	$13,150.50
12	$380.90	$183.64	$197.26	$12,966.86

Debt Payoff Calculator

Amortization Over Time

Amortization Schedule

Frequently Asked Questions

Amortization Over Time

Amortization Schedule