There are two proven ways to clear debt: the snowball (smallest balance first, for quick wins) and the avalanche (highest interest first, for lowest total cost). This planner runs both side by side so you can pick the one you will actually stick with.
What is inside
- A table for every debt: balance, interest rate, and minimum payment
- Snowball and avalanche payoff orders calculated automatically
- A payoff date and total-interest estimate for each method
- Space to set the extra amount you can throw at debt each month
How to use it
- Copy the planner from the link below.
- List every debt with its rate and minimum.
- Enter how much extra you can pay beyond the minimums.
- Compare the two payoff dates and pick your method.
Snowball or avalanche
The avalanche saves the most money on paper. The snowball wins more often in real life because the early payoffs keep you motivated. If the difference in total interest is small, choose the snowball. If it is large, the avalanche is worth the patience.