Question 1

Is the snowball or avalanche method better?

Accepted Answer

Snowball (smallest balance first) wins on motivation; avalanche (highest interest first) saves the most money. Mathematically avalanche is cheaper, but many people stick with the plan longer using snowball. This calculator follows snowball order.

Question 2

What extra payment should I add?

Accepted Answer

Any fixed amount above your minimums speeds things up — even a small extra $25–50 per debt. Enter what you can reliably afford each month; the calculator shows how many months you cut off.

Question 3

Should I still keep an emergency fund while paying debt?

Accepted Answer

Yes, a small starter cushion (about one month of expenses) prevents new debt when something breaks. You can build it fully after high-interest debt is gone, depending on your local cost of living.

Debt Snowball Calculator

Debt-free plan

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