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YourMoneyPage New: Find your Net Worth with our updated Net Worth Calculator.
Now includes Social Security Present Value for a true picture. You might be pleasantly surprised!.

Best way to pay off Debt

So you've decided to pay off all your debts! Great. You can attack your debts using one of two basic methods. This calculator will compare these two methods.
1) The "Debt Snowball" method. Pay off the debt with the smallest balance first. This method is popularized by financial advice personality Dave Ramsey
2) Pay off the debt with the highest interest rate first.
Your Debts With Constant Monthly Payments
  Balance: Monthly Payment Annual Interest Rate
Home Mortgage: %
Auto Loan: %
Other Fixed Payment Loan: %
Your Debts With Varying Monthly Payments
  Balance: Annual Interest Rate
Credit Card or Store Card 1: %
Credit Card or Store Card 2: %
Credit Card or Store Card 3: %