Eliminate Debt without Loans


I found a really cool website called Undebt.it. As you know, Scott and I are working to get rid of our debt (you can read about that here). According to The Simple Dollar the average American household carries about $7k in credit card debt alone. You guys, think about auto loans, student loans, and other miscellaneous debts on top of $7k in credit card debt — that’s absolutely crazy! Fortunately, our credit card debt is lower than that and our interest rates are pretty good for what we do owe.

Really, the only debt we’d be OKAY with is a mortgage. Other than that, we want to be debt-free. The site asks you to put all of your debts into the fields on the dashboard below:

undebt.it account fields

After you’ve filled in your information, this is what the site kicks back:

  • the date of payoff
  • credit utilization
  • the progress you’ve made
  • how much interest has accrued
  • minimum payments

You’re also able to add payments you’ve made to get an accurate view of your overall progress. The site allows you to choose your plan of attack. You can take the snowball approach, avalanche, debt blaster, or no snowball at all.

Undebt.it also shows you a Snowball Table with all of your payments up to the payoff date.

snowball debt calculator

It’s awesome! According to our goals, we’ll be debt-free in 2020, HOWEVER, we’ll be making snowflake (additional) payments when we can to expedite the process.  I hope you all find it helpful. How are you tracking your progress? Have you used a tracker to attack your debt?