Debt Payoff Calculator
List your debts, set an extra monthly payment and compare the snowball and avalanche strategies side by side. The calculator simulates every month to show how long each plan takes and how much interest you pay.
How to use the debt payoff calculator
- Add each debt with its balance, interest rate and minimum payment.
- Enter any extra amount you can pay every month on top of the minimums.
- Compare the snowball and avalanche results for months to debt free and total interest.
Examples
Two cards, $200 extra, avalanche
Card A $5,000 @ 22% min $100; Card B $2,000 @ 12% min $50; extra $200
Avalanche clears Card A first and pays the least total interest.
Snowball for quick wins
Same two cards, but using the snowball method
Snowball clears the $2,000 card first for an early win, paying slightly more interest.
Frequently asked questions
What is the difference between the snowball and avalanche methods?
The snowball method pays off the smallest balance first, then rolls that payment into the next smallest. The avalanche method targets the highest interest rate first. Both pay minimums on every other debt.
Which method saves the most money?
The avalanche method almost always costs less interest because it kills your most expensive debt first. The snowball can match it only when your smallest balance also has the highest rate.
Why would anyone choose the snowball method?
Behavior. Clearing a whole debt quickly gives a motivating win and frees up a payment, which helps many people stay consistent. The best plan is the one you actually finish.
How much do extra payments help?
A lot. Every extra dollar goes straight to principal on your target debt, so even a small fixed extra amount each month can cut months off the schedule and save meaningful interest.
What happens if my minimum payments do not cover the interest?
Then the balance grows instead of shrinking and the debt is never repaid. The calculator detects this and flags it so you know you need a larger payment.
Is my financial data sent anywhere?
No. The calculation runs entirely in your browser. Your balances and rates are never uploaded or stored.
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