Know Your Debt-Free Date
Compare Snowball vs Avalanche strategies. See exactly how much interest you will save. Track 7 types of debt in one place.
Cash Balancer runs both snowball and avalanche calculations on your actual debts and shows you exactly when you'll be debt-free with each strategy.
Two proven strategies, one clear answer
Cash Balancer calculates both methods with your actual numbers and shows you the difference in dollars and months.
Avalanche Method
Save the most money
Pay minimums on everything, then throw every extra dollar at the debt with the highest interest rate. Once that is paid off, roll the payment to the next highest rate. This is mathematically optimal — you pay the least total interest.
Snowball Method
Build momentum fast
Pay minimums on everything, then throw every extra dollar at the debt with the smallest balance. Once that is paid off, roll the payment to the next smallest. Quick wins build momentum and keep you motivated.
Cash Balancer shows you both strategies with your actual debts
See exactly how many months and dollars each strategy saves you
Track every type of debt
Each debt type has specialized fields so the calculator is accurate to your actual terms.
Credit Cards
Dual APR tracking (purchase + cash advance), credit limit, closing day, CARD Act payment allocation
Student Loans
Loan term tracking, federal and private loan support, balance and APR
Auto Loans
Vehicle details (make, model, year, mileage), purchase date, original loan amount, term length
Mortgages
30-year fixed, 20-year fixed, 15-year fixed, and ARM term types with original amount tracking
Personal Loans
Loan purpose, issue date, original amount, and term length for unsecured debt
Medical Debt
Original amount tracking for medical bills, hospital payment plans, and healthcare financing
Other
Custom description field for any debt type not covered — family loans, buy-now-pay-later, etc.
How the calculator works
Add Your Debts
Enter each debt manually or scan a document. For credit cards, the AI extracts purchase balance, cash advance balance, dual APRs, credit limit, and due date automatically.
Choose a Strategy
Select Avalanche (highest rate first) or Snowball (smallest balance first). The app calculates your monthly payoff plan, total interest, and debt-free date for both strategies side by side.
Follow Your Action Plan
Get a month-by-month breakdown showing exactly how much to pay on each debt. Track your progress with a debt-free date countdown and percentage-paid progress bars.
See where your money actually goes
The interest analysis view breaks down every dollar of interest you are paying. It shows each debt's effective APR (including weighted averages for credit cards with dual purchase and cash advance rates), monthly interest charge, and total interest over the life of the debt.
An APR distribution chart gives you a visual overview of your debt landscape — so you can instantly see which debts are costing you the most and make informed decisions about where to direct extra payments.
Dual APR tracking for credit cards
Most debt calculators treat credit cards as a single balance at a single rate. Cash Balancer tracks purchase and cash advance balances separately with their own APRs, just like your credit card company does.
Payments follow CARD Act rules: minimum payments are split proportionally across balance types, while extra payments are directed to the highest-APR balance first. This gives you an accurate payoff calculation instead of an oversimplified estimate.
Frequently Asked Questions
What is the difference between the Snowball and Avalanche methods?
The Snowball method pays off your smallest balance first, regardless of interest rate. Once that debt is gone, you roll its payment into the next smallest balance. This creates psychological wins that keep you motivated. The Avalanche method targets the highest interest rate first, which mathematically saves you the most money in total interest paid. Cash Balancer calculates both strategies side by side so you can see the exact dollar difference and choose the approach that fits your personality.
How accurate is the debt-free date calculation?
The calculator uses your actual balances, APRs, and minimum payments to simulate month-by-month payoff with compound interest. For credit cards, it separately tracks purchase and cash advance balances at their respective APRs and follows CARD Act payment allocation rules (minimums split proportionally, extra payments go to the highest-rate balance first). The projection assumes you make at least the minimum payment each month and do not add new charges. If you add extra payments above the minimums, the calculator shows how that accelerates your payoff date.
What types of debt does the calculator support?
Cash Balancer supports seven debt types: credit cards, auto loans, student loans, personal loans, medical debt, mortgages, and a general 'other' category. Each type has specialized fields. Credit cards track purchase balance, cash advance balance, purchase APR, cash advance APR, credit limit, and closing day. Auto loans include vehicle details and loan term. Mortgages support 30-year fixed, 20-year fixed, 15-year fixed, and ARM term types. Every debt type feeds into the payoff calculator.
Can I scan my credit card statement to add a debt?
Yes. Cash Balancer includes an AI-powered document scanner that can read credit card statements, loan documents, and other financial paperwork. You take a photo of the document, and the AI extracts the relevant fields — balance, APR, minimum payment, due date, credit limit, and more. It supports multi-page credit card statements and automatically separates purchase and cash advance balances. The extracted data pre-fills the debt form, so you just review and save.
How does the interest analysis feature work?
The interest analysis view shows you a breakdown of how much interest you are paying across all your debts. It displays each debt's effective APR (weighted average for credit cards with dual APRs), monthly interest charge, and total interest paid over the life of each debt. You can see exactly where your money is going and which debts are costing you the most. This information is also what the Avalanche strategy uses to prioritize your payoff order.
Is the debt payoff calculator really free?
Yes, completely free. There is no premium version, no in-app purchases, and no limit on the number of debts you can track. Cash Balancer is a fully free app with no monetization. The debt payoff calculator, interest analysis, strategy comparison, and debt-free date countdown are all included at no cost.
Your debt-free date is closer than you think. Cash Balancer does the math for you — just enter your debts and see exactly how to pay them off fastest.
Find your debt-free date
Download Cash Balancer for free. Add your debts, pick a strategy, and see exactly when you will be debt-free.
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