Jasperly logo

Debt Repayment Strategies

Model your payoff journey, compare tactical approaches, and fine-tune extra payments to reach debt freedom with confidence.

Debt Inputs & Extra PaymentSummary
Credit Card A
$5,000Balance
$150Min Payment
Credit Card B
$3,200Balance
$96Min Payment
Personal Loan
$8,500Balance
$250Min Payment
Store Card
$5,200Balance
$50Min Payment
Extra Payment
$200Per Month

Added beyond minimums.

Debt Snowball Method
Focus on smallest debts first for quick wins and motivation
Time to Debt-Free
41 months
3.4 years
Total Interest Paid
$8,189.56
Total Amount Paid
$30,089.56

Payoff Order:

1
Credit Card B
$3,200 at 22.5%
2
Credit Card A
$5,000 at 18.99%
3
Personal Loan
$8,500 at 12.5%
4
Store Card
$5,200 at 24.99%
How the Snowball Method Works

List your debts from smallest balance to largest. You pay the minimum on every debt, then put any extra money toward the smallest one. When a debt is paid off, you roll that payment into the next smallest. This creates momentum like a snowball rolling downhill.

  • Focus: smallest balance first (not interest rate)
  • Motivation: quick wins keep you going
  • Roll-over: freed minimums become extra payment next month
  • Trade‑off: may pay more interest than Avalanche
Snowball Method Insights

Psychological Wins

Paying off smaller debts first provides quick victories that boost motivation and commitment.

Momentum Building

Each paid-off debt frees up more money to attack the next one, creating a snowball effect.

Best For

People who need motivation and encouragement to stick with their debt payoff plan.

Side-by-Side Comparison

Snowball

Time to Debt-Free
41 months
3.4 years
Total Interest
$8,189.56
Total Paid
$30,089.56
Key Benefit:

Quick wins build momentum and motivation

Avalanche

Fastest
Time to Debt-Free
40 months
3.3 years
Total Interest
$7,201.58
Total Paid
$29,101.58
Key Benefit:

Saves the most money on interest

Consolidation

Time to Debt-Free
46 months
3.8 years
Total Interest
$11,783.22
Total Paid
$33,683.22
Key Benefit:

Simplifies payments into one monthly bill. Note: Depending on credit worthiness you may only be offered higher rates by predatory lenders.