Debt payoff calculator
List your debts, add what you can spare each month, and see the month you'll owe nothing. Snowball and avalanche, side by side.
Your numbers
Your plan
Savings compared with paying only the minimum on each debt.
Where your payments go
Interest by method
Same debts, same monthly budget. Only the order changes.
Payoff order
- 1Store cardGone by May 2027
- 2Visa cardGone by Sep 2028
- 3Personal loanGone by Nov 2028
- 4Car loanGone by Dec 2028
Rather work in a spreadsheet?
A free payoff spreadsheet for Excel and Google Sheets is on the way, with the same math as this page and no macros.
Estimates only, based on the numbers you enter. Assumes fixed rates, no new charges, no fees and payments made on time. This is not financial advice.
How this calculator works
Each month, the calculator does three things for every debt you've listed:
- Adds that month's interest: balance × APR ÷ 12.
- Pays the minimum on every debt.
- Sends everything left in your monthly budget (minimums + extra) to one target debt.
When a debt is paid off, its minimum stays in your budget and rolls on to the next target. That roll-over is what makes both methods speed up over time.
Monthly budget = sum of all minimums + your extra amount
Avalanche vs snowball
Avalanche sends the extra to the debt with the highest interest rate. It always costs the same or less in interest. Snowball sends it to the smallest balance first, so your first debt disappears sooner, which many people find easier to stick with.
Worked example
Using the four debts this page starts with ($14,150 in total: a $6,200 card at 24.99%, a $1,450 store card at 29.99%, a $3,900 car loan at 7.9% and a $2,600 personal loan at 11.5%) and $200 extra a month:
| Plan | Months | Interest | Total paid |
|---|---|---|---|
| Minimums only | 67 | $6,846 | $20,996 |
| Snowball + $200 | 26 | $3,242 | $17,392 |
| Avalanche + $200 | 26 | $2,817 | $16,967 |
“Minimums only” means each debt gets just its own minimum, with no extra and no roll-over.
Questions
Which method should I pick?
If you want the lowest total cost, pick avalanche. If you need an early win to stay motivated, pick snowball. When the difference shown above is small, choose the one you'll actually keep doing.
Why is my date different from my lender's?
Lenders may charge interest daily, change your rate, add fees or set a minimum that changes as your balance falls. This page uses a fixed monthly rate and fixed minimums, so treat the date as a close estimate.
What if my minimum payment goes down as I pay?
Many credit card minimums shrink with the balance. This calculator keeps your monthly budget fixed, which is the habit that gets debt paid off fastest. If you pay less as minimums drop, it will take longer.
Is my information saved anywhere?
No. The math runs in your browser and nothing is sent to us. If you use “Share my plan”, your numbers go into the link itself, after the # sign, which browsers don't send to our server.