Credit Card and Consumer Debt Payment Calculator

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Most people have a hard time determining the right payment allocation for servicing debts. In general, there are two prevailing thoughts on this subject. These two debt repayment strategies are snowballing (suggesting that the debt with the smallest balance should paid first) and avalanche method (focusing on the interest rate with the debt with the highest one being serviced first).

This Credit  Card and Consumer Debt Payment Calculator spreadsheet is available to support these two debt repayment strategies - showing you how much money should be paid for each outstanding debt for that period. Aside from these two strategies, an third strategy is being introduced called Targeted Avalanche.


The Targeted Avalanche method uses the same principle as the Avalanche method with one minor difference. The Targeted Avalanche strategy uses the estimated interest amount to be incurred in the next period instead of the interest rate. In terms of the efficient use of your money, this is our preferred method of payment.

Using the Credit  Card and Consumer Debt Payment Calculator
First, fill in the  names of the creditor or lending company, the account balances for each debt and the associated monthly interest rate.Unlike other debt payment calculators, you don't need to sort your entries using any criteria. This automatically done for you.


Second, put in the required minimum monthly payments for each account. This is is the minimum amount you pay to avoid incurring penalty charges. For the credit card debts, your monthly statement will contain the information. For other type of debts, you maybe required to correspond with your lending provider to get the correct figure.

Finally, enter the amount of money available to pay-off your debt. This amount will be easier to determine if you prepare a monthly budget before preparing this from.


Want to purchase this product?
This Credit  Card and Consumer Debt Payment Calculator is an easy tool to use. If you are interested with this, this product is available for purchase for GBP 4.99 using the button below. Before you buy please ensure that you read the purchase and delivery process and our terms of use.