Debt payoff calculators help plan elimination of multiple debts using structured strategies. The two most popular are: Avalanche (highest interest rate first — mathematically optimal) and Snowball (smallest balance first — psychologically motivating).
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Pro Tip
For large high-interest debt (credit cards), a 0% balance transfer card can eliminate interest for 12–21 months, giving your payments maximum impact. Apply this before using either strategy.
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Did You Know?
Dave Ramsey popularized the Snowball method in his "Total Money Makeover" (2003). Research from Harvard Business School found Snowball users are more likely to complete their debt payoff than Avalanche users — motivation matters.
References
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