Wise Financial Cambodia

Financial Education Tools
All Calculators › Budgeting › Debt Pay-Off Strategies

Debt Pay-Off Strategies

Compare all five pay-off strategies side by side — enter your debts, set your monthly budget, and instantly see which approach gets you debt-free fastest and cheapest.

Currency:
Monthly Budget for Debt Payments
$
per month — total available for all debts combined
Your Debts ☰ drag rows · ▲▼ move · Custom order = 🎯 strategy
# ☰ Debt Name Balance Rate/yr Int. Type Min. Payment /mo Penalty /mo
Simple interest = fixed charge on original balance each month.  Compound = interest on current balance (most loans).  Penalty /mo = monthly % charged on the shortfall if you pay less than the minimum.  Rate/yr = yearly interest rate (e.g. 18%/yr = 1.5%/month).  Min. Payment /mo = the required monthly payment amount.
⚠️ Budget is less than total minimum payments — strategies may stall. Increase your monthly budget or reduce minimum payments.
All Strategies Compared
Strategy Pay-off Order Months Total Interest Total Paid
Remaining Debt Over Time
Monthly Payment Schedule
Strategy Guide
⛄ Snowball Pay off the smallest balance first. Builds momentum with quick wins. Best for motivation.
🏔 Avalanche Pay off the highest interest rate first. Mathematically minimises total interest. Best if disciplined.
🪜 Stairstepper Pay off whichever debt will be eliminated soonest with your available extra budget. Frees up cash flow the fastest — re-evaluated after each payoff. A balance between snowball and avalanche.
💰 High Payment Pay off the debt with the highest minimum payment first. Frees up the largest monthly cash amount when paid off — good if your goal is maximising future cash flow.
🎯 Custom Your own order. Drag the rows or use ▲▼ to arrange debts in the order you want to pay them off. The custom strategy follows the table order from top to bottom.
Click Print / Save as PDF to export results.