Frequently Asked Questions

Snowball pays off debts from smallest balance to largest. You get quick wins that keep you motivated.

Avalanche pays off debts from highest interest rate to lowest. This saves you the most money in interest over time.

No. All calculations happen in your browser or on our server temporarily. We don't store your debt information or share it with anyone. The shareable link contains your data encoded in the URL — it's not stored in a database.

Our calculator assumes monthly compounding interest, which is standard for most consumer debts. The calculations provide accurate estimates, but actual results may vary slightly based on:

• Your actual payment dates
• Changes to interest rates
• Minimum payment calculation methods
• Fees or charges not included

Use the Compare tool to see the actual difference with your debts. Generally:

• Snowball if you need motivation and quick wins
• Avalanche if you're disciplined and want to minimize interest

The best method is the one you'll stick with!

Generally yes, but first make sure you have:

1. A small emergency fund ($1,000 minimum)
2. All minimum payments covered
3. No super-high-interest payday loans

Then put any extra money toward debt using your chosen strategy.

Balance transfers can be useful if you have high-interest debt and can pay it off during the 0% intro period. Consider:

• Transfer fees (usually 3-5%)
• The go-to APR after the intro period
• Whether you'll actually pay it off in time

Our Balance Transfer calculator (coming soon) will help you analyze if it's worth it.

Monthly compounding, which is standard for credit cards and most consumer loans. The monthly rate is your APR divided by 12.

Formula: Monthly Interest = Balance × (APR ÷ 12)

We use the minimum payment amount you enter. In reality, credit cards often use the greater of:

• A flat dollar amount ($25-35)
• A percentage of balance (1-3%)
• Interest + fees + 1% of principal

For accuracy, enter your actual minimum payment from your statement.