Simulate multiple debts using the snowball repayment strategy, with a fixed total payment budget.
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Minimum payments stay fixed. Paid-off minimum payments roll into the remaining debts. Snowball prioritizes the smallest opening balance; avalanche prioritizes the highest interest rate. Interest accrues before end-of-month payments. No new borrowing, fees or promotional-rate changes are included.
Monthly multi-debt simulationInterest = opening balance × annual rate / 1200; remaining budget pays the priority debt.
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Compare a 2,000 card at 24% and a 6,000 loan at 8%, using minimum payments of 60 and 150 plus an extra 200 each month.
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Additional monthly budget
Scenario
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160
1
24
200
2
22
240
3
20
Hypothèses, interprétation ak erreurs cwallarantes
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Rates and minimum payment amounts stay fixed; no new borrowing or fees are added.
The initial total minimum payments plus extra payment form a fixed monthly budget.
Minimum payments are made first, then remaining cash targets the smallest balance or highest rate.
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The payoff order shows when each debt is cleared.
Paid-off minimum payments remain in the budget and roll into remaining debts.
Final payments are limited to the remaining amount owed.
Erreurs cwallarantes à éviter
Using changing percentage minimums as if they were fixed amounts.
Omitting a debt or assuming new purchases have no effect.
Entering a budget that cannot reduce the total balance.