Money Snapshot

What the snapshot tells you

Most people know roughly what they owe, but few see the whole picture in one place: what you own in cash, what you owe, what it costs you each month, and what is left. The snapshot adds those pieces and answers three questions. How big is the gap between savings and debt (net worth)? How long could your cash cover your spending if income stopped (months covered)? And what should the next dollar do? The last question is where a clear rule order helps, because "pay down debt" and "build savings" both sound right and they compete for the same money.

The order of attack, rule by rule

1. Pay every minimum on time. The minimums are the floor. If your take-home pay does not cover essentials plus minimums, the tool flags negative cash flow and stops: no ordering can fix a monthly shortfall, so the first job is to raise income or cut spending.
2. Build a starter emergency fund. By default, one month of essential spending plus your debt minimums. Without a cushion, any surprise goes onto a card at a high rate.
3. Capture an employer match. If you tick the box, this appears as a reminder. A match is an immediate return that is hard for any payoff to beat. It is not simulated, because it depends on your pay and plan; treat it as part of your normal spending.
4. Pay off high-rate debt. Debts at or above your threshold (8% APR by default, which you can change) are paid highest APR first. Paying such a debt is a guaranteed return equal to its APR.
5. Grow the emergency fund. By default to three months of spending. Many people choose more or less depending on how stable their income is.
6. Pay off remaining debts, again highest APR first.
7. Save and invest the rest for retirement and other goals.

The thresholds are judgment calls, not laws. A one-month starter fund and a three-month full fund are common planning conventions, and 8% as the line between "high" and "low" is a round number chosen for this tool. The CFPB says the right emergency savings amount depends on your situation and suggests thinking about the most common unexpected expenses you have had and what they cost, so change the months to match your own life.

Worked example

With the starting values: a card with $3,000 at 22% (minimum $90), a car loan with $9,000 at 6% (minimum $250), a student loan with $15,000 at 5% (minimum $160), $1,200 in savings, $4,500 take-home pay and $2,500 of essentials. Total debt is $27,000, savings $1,200, so net worth is −$25,800. Minimums total $500, so spending is $3,000 a month and $1,500 is left over. Cash covers only about 0.4 months of spending, and the average APR weighted by balance is about 7.2%.

The plan: the starter fund target is $3,000, reached in month 2. Then the card, the only debt at or above 8%, is cleared by month 4. The three-month fund ($9,000) is full in month 7. The car and student loans are then paid highest APR first and all debt is gone in month 19. Net worth turns positive in month 14 and reaches about $20,767 by month 24 and $92,767 by month 60. The last figures assume that every spare dollar is kept and earns nothing, so real results with interest on savings or investments would be higher, and income changes or new borrowing would change them.

How the projection works

Each month, interest of balance × APR ÷ 12 is added to every debt, then each minimum is paid. What remains of your budget (take-home pay minus essentials) goes through the steps in order: first to the starter fund until it reaches its target, then to the highest-APR debt among the high-rate ones, then to the full fund, then to remaining debts, then to savings. When a debt is paid off its minimum is freed up and joins the same pool, which is the "snowball" effect. The chart plots savings minus debt for each month over five years. The step completion months are listed in the plan above.

Frequently asked questions

Why not put everything on the highest-rate debt?

Because a cushion keeps one surprise from turning into more high-rate debt. The emergency fund vs. debt guide works through an example with numbers.

My debts are all low rate. Does this still help?

Yes. If nothing is at or above the threshold the high-rate step is marked done, and the plan moves to the emergency fund and then the remaining debts. You may also decide that investing beats paying a 3% loan early; that is a personal call the tool does not make.

Is my data saved anywhere?

Only in your own browser, using local storage, so it is still there when you return on the same device. Nothing is uploaded. Clearing site data or using the button above removes it.

Which order inside the debts is best, avalanche or snowball?

This tool uses highest APR first, which costs the least interest. If you need quick wins to stay motivated, read snowball vs. avalanche and try the payoff planner, which lets you compare both.

Methodology and sources

Net worth = total savings − total debt. Spending = essentials + all minimum payments. Left each month = take-home pay − spending. Months covered = total savings ÷ spending. Average APR is weighted by balance. The projection runs 60 months, assumes constant income and spending, no new borrowing, fixed APRs, and no return on savings. Debts whose minimum is below the monthly interest will grow in the projection, which is also what happens in real life.

Source: CFPB, An essential guide to building an emergency fund (the amount depends on your situation; start small; automatic transfers; where to keep it). The one-month and three-month defaults and the 8% threshold are this site's own planning conventions and are not taken from that page.

Limitations and assumptions

This is an educational estimate and not financial advice, and the site operator is not a financial adviser. It ignores taxes, income changes, one-off expenses, interest on savings, credit-score effects and the possibility of better uses for the money. Nonprofit credit counselors can help you build a plan around your actual accounts and income.