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Debt Payoff Calculator

Add your debts, choose snowball or avalanche, and see exactly when you'll be debt-free — and how much interest each method saves.

Highest APR first — least interest
Your debts3
$
%
$
$
%
$
$
%
$
Extra monthly payment On top of minimums
$
Debt-free inAvalanche
2y 4mo
total interest paid$2,730
total paid$24,730
saved vs snowball$461
debt-free by
2029
months
28
total interest
$2,730

Payoff order: Credit card → Personal loan → Car loan

Total balance over time
Avalanche Snowball
$0$6k$12k$18k$24k2026202720282029

Snowball vs. avalanche

Both methods pay the minimum on every debt, then throw every spare dollar at one target. The avalanche targets your highest interest rate first — mathematically the cheapest and fastest. The snowball targets your smallest balance first, clearing whole debts quickly for motivation.

As each debt is cleared, its payment rolls over onto the next — the snowball effect that accelerates payoff no matter which order you choose. The chart compares your total balance falling under each method.

Common questions

Snowball vs avalanche — which is better?
Avalanche (highest APR first) always costs the least interest and pays off soonest mathematically. Snowball (lowest balance first) clears individual debts faster for quick motivational wins. This tool shows both so you can weigh math against momentum.
How does the extra payment work?
Every month you pay the minimum on all debts, then the entire remaining budget — your extra payment plus any freed-up minimums from paid-off debts — attacks the target debt. As debts clear, that money 'rolls over,' accelerating the rest.
What if I can't pay off my debt?
If your minimums barely cover interest, the calculator flags it — the balance won't fall on that budget. You'll need to increase payments, lower rates (e.g. a balance transfer), or seek nonprofit credit counseling.
Does paying off debt help my credit?
Usually yes. Lowering your credit-card balances reduces your credit utilization, which is a major factor in your score. Paying on time and clearing accounts also helps over time.

How we calculate this

Month-by-month simulation: interest accrues, minimums are paid, and the remaining budget targets one debt by the chosen strategy. Estimates only — not financial advice.

Full methodology & sources →
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Estimates assume fixed rates and consistent payments. Actual interest and payoff depend on your lenders' terms and your payment history. Not financial advice.