You make payments every month. But do you know the month you will finally be done? Type in your debts and in seconds you will see your debt-free date, the order to pay them off, and exactly what to pay each month.
Just $9, one time. Instant download.
The My Plan tab lists every month until you are debt-free: what to pay on each debt and what is left. Gold marks the month a debt disappears, so you can watch your progress coming.
Paying the smallest balance first feels good, but it can cost you hundreds of dollars more in interest. The calculator runs both methods on your numbers and shows you the difference in dollars and months.
✓ The full calculator as an .xlsx file for Excel and Google Sheets
✓ Up to 10 debts: credit cards, car loans, student loans, medical bills, personal loans
✓ Debt-free date, total months and total interest
✓ Payoff order with the month and date each debt is gone
✓ Month-by-month plan for every debt
✓ Avalanche vs. snowball comparison in dollars and months
✓ Protected formulas, clear error messages, no macros
Use it on your computer in Excel, or upload it to your own Google Drive and open it with Google Sheets. Update your numbers any time and your plan updates with them.
Educational tool, not financial advice. Assumes fixed interest rates and payments, interest charged monthly (APR / 12), and no new charges.
Bob Invests | Smarter Money Starts With Better Math.
