Debt Payoff Calculator
Plan your way out of debt with the snowball or avalanche method. See when you'll be debt-free, the total interest, and how much each strategy saves. Everything runs locally in your browser.
New to this? Read the Debt Payoff guide →
Added on top of all minimum payments each month.
- Debt-free in
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- Total interest
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- Total paid
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Total balance over time
Payoff order
Estimates assume fixed rates and that you keep paying the same total each month. Not financial advice.
How to use the debt payoff calculator
- Add each debt with its balance, interest rate and minimum payment.
- Set how much extra you can put toward debt each month, and choose a strategy.
- See your payoff date, the total interest, and the order debts are cleared.
Snowball vs. avalanche
Both methods pay every minimum, then throw all spare money at one target debt:
- Snowball attacks the smallest balance first. You clear individual debts quickly, which builds momentum and motivation.
- Avalanche attacks the highest interest rate first. It is mathematically optimal and pays the least total interest.
The avalanche usually saves the most money; the snowball often keeps people going. Try both here and compare the payoff date and total interest for your actual debts.
Why extra payments matter so much
High-interest debt compounds against you, so every extra dollar above the minimum goes straight to principal and removes future interest. Even a small, consistent extra payment can move the payoff date forward by months or years. For the full comparison, read debt snowball vs. avalanche.
Where you'd use this
Choosing between clearing the smallest balance first for momentum or the highest rate first for cost, and seeing exactly what the choice costs.
For example: Three debts totalling $18,000 with rates from 6% to 24%: the avalanche method saves about $1,400 in interest over the snowball, but the snowball clears the first card five months sooner. Now it is an informed preference, not a guess.
Frequently asked questions
What is the difference between the snowball and avalanche methods?
Snowball pays the smallest balance first for quick, motivating wins; avalanche pays the highest interest rate first to minimise total interest. The calculator compares both.
How can I pay off debt faster?
Paying more than the minimum and directing extra payments to one debt at a time (per your chosen method) shortens the payoff time and cuts total interest.
Is my debt information uploaded?
No. The calculation runs entirely in your browser; your balances stay private.