node-debt-snowball v2.5.0

node-debt-snowball

Node script to calculate debt repayment using the snowball method

Features

• Fully tested with 100% code coverage
• Module and CommonJS compatible
• Nightly builds to evaluate accuracy
• Lightweight - completely dependency free

Installation

npm install node-debt-snowball

Usage

Basic Usage

import { snowball } from 'node-debt-snowball';

const accounts = [
  {
    name: 'Credit Card',
    interest: 14.99,
    balance: 1000,
    minPayment: 75,
  },
  {
    name: 'Student Loan',
    interest: 4.75,
    balance: 7500,
    minPayment: 150,
  },
];
const additionalPayment = 100;
const strategy = 'avalanche'; // possible values: avalanche (default), snowball

const repaymentPlan = snowball(accounts, additionalPayment, strategy);
console.log('repaymentPlan', repaymentPlan);

Strategies

There are two options for the strategy argument:

1. avalanche - This strategy applies additional payments to the account with the highest interest rate. This is the default value
2. snowball - This strategy focuses on paying off the account with the lowest balance first

For additional information on these strategies read more on Investopedia.

API

Full API documentation is available can be found at https://nielse63.github.io/node-debt-snowball

Response Schema

{
  "totalInterestPaid": "number",
  "totalPayments": "number",
  "strategy": "string",
  "payments": [
    {
      "balance": "number",
      "accounts": [
        {
          "name": "string",
          "balanceStart": "number",
          "balanceEnd": "number",
          "accruedInterest": "number",
          "additionalPayment": "number",
          "paymentAmount": "number"
        }
      ]
    }
  ]
}

A full sample response can be found at examples/response.json.

Contributing

Clone the repo and install the dependencies:

git clone https://github.com/nielse63/node-debt-snowball.git
cd node-debt-snowball
npm ci

Prerequisites

Node v20.13.1:

nvm use v20.13.1

NPM Scripts