This tool helps answer the questions:
  1. If I am disciplined to repay my debt in fixed amount, should I use avalanche (pay highest interest rate first) or snowball method (pay smallest balance first)?
  2. If I accumulate significant savings from a bonus or lump-sum benefit recently, should I use avalanche or snowball method to repay the debt?
  3. Should I still prepay my laon (such as mortgage) to be debt-free early, even if the loan interest rate is lower than investment yield?
Outstanding Debt clear
Loan #1 Loan #2
Is credit card debt
Current balance
APR (interest rate)
Remaining term months months
Scheduled monthly payment If this is credit card debt, this amount will be the minimum payment required, usually 1% of balance or $25 (whichever is more), plus the accrued interest.
Select to prepay
Prepayment Settings
Monthly saving Your monthly saving after all living expenses, before considering any debt payment
Scheduled debt payment
Monthly prepayment The extra debt repayment you want to make in addition to "Scheduled debt payment".
One-time prepayment One-time prepayment, only at the end of next month, out of your current savings, or for example, out of a bonus to be received.
Investment yield This is the expected annual investment yield you assume to get if you don't make extra debt payment, but save it for investment.
Depending on your investment type, 3% ~ 10% is reasonable. For example, CD: 3~5%, bond: 4~6%, stock: 6~10%. 		on savings
Payoff Strategy
Avalanche Snowball No Prepay
Years to pay off
Total amount paid
Total interest saved