By Frankie Group Financial · Educational resource · Updated September 11, 2026
Choose the method you can understand and sustain.
A useful comparison starts with the same balances, interest rates, and monthly payment budget. A faster projected payoff is less meaningful if it assumes more money than you can reliably set aside.
Three approaches, different tradeoffs
| Approach | Focus | Question to ask |
|---|---|---|
| Avalanche | Direct extra payments toward the highest-rate debt while maintaining other required payments. | Can I stay consistent if the first balance takes time? |
| Snowball | Clear smaller balances first, then roll the freed-up payment into the next debt. | Is the motivation worth potentially paying more interest? |
| Software-assisted | Use a tool to organize inputs and proposed payment steps. | Do the benefits justify all program and borrowing costs? |
For the first two methods, see the CFPB guide to reducing debt (opens in a new tab). Money Max is one software option, not a requirement for paying down debt.
Try a simple extra-payment illustration.
This calculator models one fixed-rate debt. It does not model Money Max, a HELOC, multiple debts, or a lender’s daily-interest rules. Your entries stay in this browser and are not submitted.
Compare the complete cost.
Ask for the total interest, any software price, borrowing fees, and the proposed monthly payment. Request a second illustration for a lean month. A plan that looks efficient but leaves no cash for an urgent repair may be difficult to sustain.
New credit is not the same thing as eliminating debt. If a proposal uses home equity, consider the risks separately from the software. CFPB explanation of HELOCs (opens in a new tab).
Curious about Money Max?
Read our Money Max overview and decision checklist, or go directly to the provider’s review page.
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