Debt Payoff Calculator
Add each debt's balance, interest rate, and minimum payment, plus any extra you can put toward payoff — see the snowball (smallest balance first) and avalanche (highest rate first) methods side by side.
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How to plan paying off debts
- Click + Add debt for each card or loan, with its balance, interest rate and minimum payment.
- Enter any extra you can pay each month.
- Compare the snowball and avalanche plans: when you’ll be debt-free and the total interest.
How it's calculated
Every debt gets its minimum payment each month; the extra payment goes entirely toward one debt at a time — the smallest balance first for snowball, the highest interest rate first for avalanche — and rolls onto the next debt in that order once one is paid off. Avalanche minimises total interest paid; snowball tends to clear individual debts faster, which some people find easier to stick with. Nothing entered here is sent to a server.
Questions about paying off debt
What is the debt snowball method?
Pay the minimum on everything and put any extra on the smallest balance first. Clearing debts quickly keeps many people motivated.
What is the debt avalanche method?
Put the extra on the highest interest rate first. It always costs the least interest overall.
Which method is better?
Avalanche saves the most money; snowball gives quicker wins. The calculator shows both so you can see how big the difference really is.
What happens when a debt is paid off?
Its payment rolls onto the next debt in the plan, so your total monthly payment stays the same and later debts clear faster.