Which Payoff Method Should You Use?

The most effective way to pay down debt is to focus on accounts with the highest interest rate which is known as the debt avalanche method or debt stacking. However, many people like to focus on accounts with the smallest balance first, also known as the debt snowball. You can simulate both methods with the form below to see which one works best for you.

$ .00
# Account Name Current Balance Minimum Payment Interest Rate
1
Add Row Delete Row
@undebt_it New Undebt.it+ Feature: Google Calendar/Apple iCloud/Outlook Integration https://t.co/3jyvMCL8cU https://t.co/GonseQvKU5
8:41 AM - Feb 23rd 2017
@undebt_it Now you can edit your debt snowflake additional payments instead of having to delete them and add them back in. https://t.co/Zn7cYX1keV
9:03 PM - Feb 16th 2017
@undebt_it The payment calendar now shows all future bills instead of just the ones due within 30 days. https://t.co/u5JqZKfjcK
8:50 PM - Feb 14th 2017
@undebt_it New Tutorial: Step-by-step Undebt.it Debt Snowball Table guide (with lots of screenshots!) https://t.co/K14pfTjJMa https://t.co/XTLD46mvuR
10:43 AM - Jan 30th 2017
@undebt_it I added another pie chart to the credit utilization page last night that shows credit card utilization only. https://t.co/sWukYJTZAd
10:39 AM - Jan 24th 2017