Minimums only = long and expensive
Credit cards and many loans set minimums that mostly cover interest plus a tiny bit of principal. On a high-APR balance, years of minimums leave most of the original debt intact while interest compounds. That is why “I’ll just pay the minimum for now” is so costly.
What an extra monthly payment does
Any amount above the sum of your minimums is “extra.” In snowball or avalanche, that extra is applied to one target debt each month. Because it goes 100% to principal (after interest has already been added for the month), it shortens the amortization curve non-linearly.
- $50 extra can cut years off a typical credit-card stack.
- $100–$200 extra often halves the time to debt-free.
- The earlier you start, the more interest you avoid — time is the enemy of high APR.
One-time “snowflake” payments
Tax refunds, bonuses, gifts, or selling something you don’t need can be applied as a one-time bonus on a specific future month. A single $500–$1,000 snowflake on the current target debt can knock months off the plan. Schedule them in the calculator so your projected debt-free date stays accurate.
How to find the money
- Cancel or pause one subscription and redirect that amount automatically.
- Round up a side gig or overtime to the nearest $50 and send it to debt.
- After each debt is paid off, keep the same total payment — never shrink the budget.
See it live
Open the free calculator, enter your debts, and drag the extra-payment slider. Watch the debt-free date and total interest update in real time. Compare snowball vs avalanche with the same extra amount so you know which strategy wins for your numbers.