Debt Snowball Calculator

I want to use the debt snowball method to pay off my debts and see exactly how it compares to the debt avalanche approach so I can pick the strategy that works best for me.

Here are my current debts: [DEBT_LIST] (for each debt, include the creditor name, current balance, annual interest rate or APR, and minimum monthly payment).

My monthly take-home income is [MONTHLY_INCOME] and the total extra amount I can throw at debt each month beyond all minimums is [EXTRA_MONTHLY_PAYMENT].

My main reason for tackling debt right now is [MOTIVATION:select:I want quick wins to stay motivated,I want to pay the least interest possible,I am preparing for a major life change like buying a home,I just want to be debt-free as fast as possible,I feel overwhelmed and need a clear plan].

The debt I find most stressful is [MOST_STRESSFUL_DEBT?] (name or type, if there is one that keeps you up at night regardless of size or rate).

I expect my extra payment capacity to [PAYMENT_OUTLOOK:select:stay about the same for the foreseeable future,increase over the next 6 to 12 months as income grows,decrease soon due to an upcoming expense,fluctuate month to month because of irregular income].

Run the full debt snowball calculation first. List every debt from smallest balance to largest, assign the extra payment to the smallest balance while paying minimums on everything else, then roll each freed-up payment into the next smallest balance. Produce a month-by-month payoff schedule showing the payment applied to each debt, the remaining balance after each payment, and the month each debt reaches zero. Show the total interest paid across all debts and the projected debt-free date.

Then run the same debts through the avalanche method, ordering them from highest interest rate to lowest, and produce the same month-by-month schedule. Present a side-by-side comparison of the two strategies covering total interest paid, total amount paid, debt-free date, and the order each individual debt is eliminated.

Highlight the difference in interest cost between the two methods and the difference in time to the first debt payoff, since that early win is the core psychological advantage of the snowball approach. If my most stressful debt would be paid off significantly earlier under one method, call that out. Based on my stated motivation and payment outlook, recommend which strategy fits my situation better and explain why. If a hybrid approach, such as knocking out one small balance first for momentum then switching to avalanche order, would give me the best of both worlds, describe that option too. Finally, suggest one or two actions I could take to free up additional money each month to accelerate either plan.