Debt Payoff Calculator
Plan debt payoff with the snowball or avalanche method and see your payoff date.
| Debt Name | Balance | APR (%) | Min. Payment |
|---|---|---|---|
Months to Debt-Free
Payoff Date
Total Interest Paid
Total Paid
Payoff Order
| # | Debt | Paid Off In |
|---|
How the Debt Payoff Calculator Works
This calculator simulates your debt repayment month by month. Each month, interest accrues on every balance, you pay each debt its minimum payment, and any extra money — plus the minimum payments freed up by debts you've already cleared (the "rollover") — is thrown at one target debt until it's gone. The process repeats until every balance reaches zero.
Avalanche Method
The avalanche method targets the debt with the highest APR first. Because you attack the most expensive interest first, this approach mathematically minimizes the total interest you pay and usually gets you debt-free fastest.
Snowball Method
The snowball method targets the debt with the smallest balance first. Clearing small debts quickly delivers early wins that build motivation and momentum, even though you may pay slightly more interest overall than with avalanche.
Which Should You Choose?
Choose avalanche if you want to save the most money. Choose snowball if you value quick, motivating wins to stay on track. Either way, paying more than the minimum each month is the single biggest factor in becoming debt-free sooner. If a debt's minimum payment doesn't even cover its monthly interest, the calculator will flag it as unpayable under the current plan.
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Disclaimer: This calculator provides estimates for educational purposes only. Results do not account for fees, changes in interest rates, or changes to your payment behavior. Actual results may vary. Consult with a qualified financial advisor before making financial decisions.