See how the Debt Roll-Up could work with the balances, rates, and payments you enter. The result is an estimate, not a promise: lender rules, rate changes, fees, missed payments, and new charges can change the payoff date and interest.
Tip: This tool works best if you're planning to pay your debts in full. If you're in a consumer proposal, bankruptcy, or consolidation loan, your trustee or counsellor is your best next step — but you can still explore the numbers here.
Your Debts
Add each debt you're working to pay off — credit cards, lines of credit, personal loans, vehicle loans. Leave out your mortgage unless you plan to aggressively pay it down.
Creditor
Debt Type
Balance
Rate %
Min. payment / month
Choose Your Strategy
There are two proven ways to pay off multiple debts. Both work — the best one depends on your personality and your numbers. Let's find the right fit.
Avalanche
Highest interest rate first
You make minimum payments on everything, then throw every extra dollar at the debt with the highest interest rate. Once that's gone, you roll that payment into the next highest rate — and so on.
This is the mathematically optimal approach. You'll pay the least total interest and get out of debt in the fewest months.
Snowball
Smallest balance first
You make minimum payments on everything, then throw every extra dollar at the debt with the smallest balance. Once that's gone, you roll that payment into the next smallest — and so on.
This gives you quick wins early. You'll see debts disappear fast, which keeps you motivated to keep going.
Pros
Saves the most money in interest
Fastest total payoff time
Mathematically optimal
Cons
First win can take months
Harder to stay motivated early on
Progress feels slow at first
Pros
Quick emotional wins
Easier to stick with long-term
Reduces number of bills fast
Cons
Costs more in total interest
Can take longer overall
High-rate debts linger
Your strategy comparison
Which strategy do you want to use?
Avalanche
Highest rate first — saves the most money
Snowball
Smallest balance first — fastest emotional wins
Side-by-Side Comparison
Here's how both strategies play out with your actual numbers.
Avalanche
Debt-free in
—
Total interest
—
Total paid
—
First debt cleared
—
Snowball
Debt-free in
—
Total interest
—
Total paid
—
First debt cleared
—
Avalanche — Targeting Priority
Snowball — Targeting Priority
Your Targeting Priority & Payoff Timeline
The number (#) is your targeting priority — the order you aim extra money at each debt. “Paid off by” is the actual month each debt reaches $0, which can be different: a smaller debt may clear on its own minimum payments before a higher-priority target is finished. Pay the minimum on everything else while focusing your extra cash on your current target.
Balance Over Time
This is general education, not financial advice. Learn more.
Want to explore different options?
Not sure if snowball or avalanche is right for you? Our partner advisors can look at your full situation and walk you through all your options — consolidation, consumer proposals, or a custom payoff plan.
We'll send your information to a trusted advisor who will reach out to set up a meeting.
When the estimate needs more review
Compare the available paths
With your consent, your Debt Roll-Up report can be shared with the listed partner for review.
Send Your Info to an Advisor
Your Debt Roll-Up report includes the income, expenses, debts, and analysis entered here. It will be shared only after you consent so an advisor at the listed partner can review it before contacting you.
The secure form is used when available. If it is unavailable, we open an email draft that you must review and send yourself.
Information sent
Your Debt Roll-Up report has been submitted to the listed partner. Any review, response and timing are up to that independent provider.
Your Step-by-Step Walkthrough
This illustrates how the entered payments could be ordered under the avalanche method, month by month.
Pro Tips for Staying on Track
Use reminders or automatic minimum payments only when the paying account will reliably have enough money.
After a balance is actually paid, decide whether rolling that payment forward still leaves essentials and your emergency needs covered.
Treat bonuses, refunds, and side income as decisions—not guaranteed debt payments—until the money arrives and higher-priority needs are covered.
Recalculate after a rate, fee, minimum payment, new charge, or income change.
Confirm every payoff and current balance with the lender's statement.
The estimate reaches $0
The entered plan reaches $0 in this estimate
This is a planning projection, not a lender statement or guaranteed payoff result. Recalculate whenever an input changes.
Ask the Money Coach to explain the limited aggregate summary it receives
Review the assumptions used in this projection
Update the calculation after a job change, surprise expense, or new statement
Use a qualified professional for personalized debt, legal, or insolvency advice
It's not just AI. Message an advisor any time for judgment-free, general guidance on your debt plan — you reach out when you want it; no one contacts you first.