Debt Payoff Strategy Builder
PROGenerate optimized debt repayment schedules using Avalanche, Snowball, and Hybrid methods. Model refinancing scenarios, balance transfers, and goal-based reverse planning to accelerate debt freedom.
Example Usage
I have $52,000 in debt spread across:
- Credit card 1: $8,500 at 21.5% APR, minimum $200/month
- Credit card 2: $4,200 at 18.9% APR, minimum $100/month
- Personal loan: $15,000 at 12% APR, minimum $350/month
- Car loan: $24,300 at 6.5% APR, minimum $450/month
My total monthly payment budget is $1,500. I also have a balance transfer offer for 0% APR for 15 months with a 3% fee.
Compare avalanche vs snowball methods, evaluate the balance transfer, and tell me which approach gets me debt-free fastest while saving the most money.
How to Use This Skill
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Fill in your inputs below (optional) and copy to include with your prompt
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Suggested Customization
| Description | Default | Your Value |
|---|---|---|
| Array of debts with name, balance, APR, and minimum payment | [] | |
| Total monthly amount available for debt repayment | calculated from minimums | |
| Strategy preference: avalanche, snowball, hybrid, or custom | avalanche | |
| Additional monthly amount beyond minimums | 0 | |
| Desired debt-free date for reverse calculation | null | |
| Focus: balanced, psychological (quick wins), or financial (max savings) | balanced |
Research Sources
This skill was built using research from these authoritative sources:
- Snowball vs. Avalanche Method - Navy Federal Official comparison with metrics on interest paid and psychological advantages
- Avalanche vs Snowball Strategy - Experian Detailed breakdown of when each method works best
- Debt Snowball vs Avalanche - Discover Pros/cons analysis with real-world payoff timeline examples
- Debt Payoff Calculator Guide 2025 Comprehensive guide on calculator features and extra payment scenarios
- Undebt.it Calculator Free tool supporting 8 different payoff methods including hybrid strategies
- Repayment Policy for Multiple Loans - Academic Study Research proving MILP algorithms can achieve 4-40% savings over traditional methods
- Optimizing Repayment Strategies - MILP Research Academic optimization model showing 12-23% savings potential
- Debt Optimization vs Consolidation Strategic debt management with flexibility to adjust plans