Debt Calculator

Debt Reduction Calculator - Wiser Wealth Management

Debt Information

#	Creditor	Loan Balance	Rate (%)	Payment Amount	Action
Totals:		$0		$0

Payment Settings

Total Monthly Payments:

$0

Extra Monthly Payment:

Payoff Strategies

Snowball Method (Lowest Balance First)

Gives you the benefit of the snowball effect, but you may pay more interest in the end than Highest Interest First. The main benefit of this approach is the psychological effect of seeing the number of debts disappear more quickly.

Avalanche Method (Highest Interest First)

This strategy results in the lowest total interest, but depending on the balance of your higher interest loans, it may take you longer to see your first loan/debt completely paid off. If the difference in the total interest is not significant, than you may get more satisfaction from the Lowest Balance First method.

Order Entered In Table

Pay off debts in the order you entered them in the table above.

📊 Summary Results

Total Debt: $0

Monthly Payment: $0

Total Interest: $0

Months to Pay Off: 0

Debt-Free Date: N/A

Debt Information

Payment Settings

Payoff Strategies

Strategy Comparison

📊 Summary Results

Payoff Order