Debt payoff calculator
Type your debts and see when you'll be debt-free with the snowball and avalanche methods, and how much interest you save compared with paying only the minimums. Free, and nothing you type leaves this page.
My debts
Example numbers from the Debt Payoff Planner. Type over them with yours (up to 8 debts).
| Debt | Balance | APR % | Minimum | Remove |
|---|
Avalanche
- Debt-free
- -
- Time
- -
- Total interest
- -
Snowball
- Debt-free
- -
- Time
- -
- Total interest
- -
Minimums only
- Debt-free
- -
- Time
- -
- Total interest
- -
Total debt over time
Avalanche with your extra paymentMinimums only
Payoff order
Estimates assume fixed rates and that you pay on time every month. Not financial advice.
Track it month by monthThe Debt Payoff Planner does this math in Excel or Google Sheets, with a payment log, a payoff schedule and a dashboard. $7, one payment.
See the Debt Payoff PlannerQuestions
What is the difference between snowball and avalanche?
Both pay the minimum on every debt and put any extra money on one debt at a time. Avalanche starts with the highest interest rate, so it usually costs the least. Snowball starts with the smallest balance, so you clear whole debts sooner. When a debt is gone, its payment rolls into the next one.
Why do minimum payments cost so much?
Most of a minimum payment goes to interest, so the balance shrinks slowly and the interest keeps adding up.
What does the extra payment do?
It is the amount you can pay on top of all your minimums each month. It always goes to the debt that comes first in the order you pick.
Is my information saved or sent anywhere?
No. The math runs in your browser. Nothing you type leaves this page.
Is this financial advice?
No. It is an estimate that assumes fixed rates and on-time payments.