This tool is designed to help prioritise your debts based on the interest each account accrues. Start by defining your accounts below to see how it works. This is a single page app that stores your information solely on your computer. No data is collected by us; save after adding each account to avoid data loss.
| User-defined Values | Calculated Values | |||||||
|---|---|---|---|---|---|---|---|---|
| Name | Balance | APR | Payment | Duration | Total Payments | Total Interest | Edit | Remove |
| Totals | ||||||||
This chart is an illustration of the Accounts table. The visualisation provides a perspective based on proportions.
Debt-to-Income (DTI) is a good indicator for debt health. Generally maintaining a DTI less than 35% of your gross income is manageable. Overleveraging your income beyond 35% will lead to stressful financial situations.
Your current sum of monthly payments for debt is $0. This does not include any contributions toward savings or investments. If you are able to pay an additional amount per month above the current total, please enter it below.
Below is a snapshot of the next three months. If you are able to commit to paying an additional amount above your monthly minimum payments, the slides will show you where you can apply the additional amount to reduce your debt most effectively.
The Avalanche strategy focuses on paying off your highest interest accounts first. This reduces the maximum amount of interest accrued per dollar of debt. Even though higher balances are acruing more interest per period, focusing on the highest interest rate accounts first will net the most savings.