Debt Repayment Calculator | Snowball & Avalanche Methods

Debt Repayment Calculator

Plan and optimize your debt repayment strategy with this tool. Choose between the snowball or avalanche method to achieve debt freedom faster.

Enter Debts (Separate Each Debt by Commas, e.g., "1000, 500, 200") (£) Enter Corresponding Interest Rates (Separate by Commas, e.g., "10, 15, 5") (%) Monthly Budget for Debt Repayment (£) Select Repayment Method

Debt Repayment Plan

How to Use the Debt Repayment Calculator

List all your debts and corresponding interest rates.
Enter the monthly budget you can allocate to debt repayment.
Select either the Snowball or Avalanche repayment method.
Click "Calculate" to get your repayment schedule and estimated debt-free date.

Tips for Debt Management

Track your progress: Regularly review your repayment progress to stay motivated.
Consider debt consolidation: Simplify multiple debts into one loan with a lower interest rate.
Prioritize high-interest debts: If using the avalanche method, focus on reducing the most expensive debts first.
Build an emergency fund: Avoid relying on credit during unexpected expenses.