The Finance Algorithm
§ Tool · tier 1 · independent

Debt Payoff Optimizer.

Find the fastest and cheapest strategy to pay off multiple debts - snowball, avalanche, or consolidation

CalculatorFree, no signupOn-deviceupd May 2026
Inputs
Your numbers
$
$5k

Balance of your first debt (e.g. credit card)

%
20%

Interest rate on first debt

$
$8k

Balance of your second debt

%
9%

Interest rate on second debt

$
$2k

Balance of your third debt — set 0 to skip

%
25%

Interest rate on third debt

$
$800

Total amount you can put toward all debts each month

Math updates live as you change inputs · AI runs on submit

Awaiting inputs

Move the sliders or type in the form on the left — the math updates live as you go. Click Get AI verdict when you want a written analysis.

Juggling multiple debts? This calculator compares three proven payoff strategies - Snowball (smallest first), Avalanche (highest rate first), and Consolidation - to show you which gets you debt-free fastest and saves the most money.

§ Worked examples

Real-world scenarios

Mixed Debt Portfolio

Sarah has a $5,000 credit card at 21%, $8,000 car loan at 9%, and $2,000 store card at 25%.

Inputs

debts:3 debts totaling $15,000budget:600

Avalanche saves $1,400 more than Snowball but takes 3 months longer to feel the first win.

Similar Size Debts

Mike has two credit cards: $4,000 at 19% and $4,500 at 22%.

Inputs

debts:2 debts totaling $8,500budget:400

With similar balances, Avalanche is clearly better - saves $380 and same emotional wins.

§ FAQ

Questions Australians ask

§ Glossary

Plain-English definitions

Snowball Method
Pay off smallest debt first for quick wins, then roll that payment to the next smallest.
Avalanche Method
Pay off highest interest rate debt first to minimize total interest paid.
Debt Stacking
Taking the payment from a paid-off debt and adding it to the next target debt.