Demo numbers — edit them to match your balances.
Payoff order
Payoff order
On these inputs, both methods cost about the same in interest.
Method: Each month: add APR/12 interest to each balance; pay every minimum; put leftover cash (your extra payment plus minimums freed when a debt is paid off) on one target — highest APR (avalanche) or lowest balance (snowball).
Share this result: vaultrubric.com/tools/debt-payoff?extra=150&n1=Credit+card&b1=4500&r1=22.9&m1=135&n2=Store+card&b2=1200&r2=26.9&m2=40&n3=Personal+loan&b3=6000&r3=11.5&m3=175
Estimates from the balances, APRs and minimums you enter. Not financial, credit or debt advice. Paying more than the minimum when you can usually cuts interest; which debt to target first is a personal choice.
You put every extra dollar toward the debt with the highest APR while paying minimums on the rest. This usually minimizes total interest.
You put every extra dollar toward the smallest balance while paying minimums on the rest. This often clears accounts sooner for motivation; interest may be higher.
No. It is plain amortization math from the numbers you enter. VaultRubric does not tell you which method to choose.
Estimates, not financial advice. Taxes, insurance, PMI and fees vary by lender, county and city; confirm with your lender, dealer and state agency before acting.