Debt payoff calculator
Payoff time depends on your balances, interest rates and monthly payment. Enter your debts below to see your debt-free date and total interest, with snowball and avalanche compared.
Your results
An estimate to help you plan, not financial advice. Real balances change with fees, rate changes and missed or late payments.
Enter your debts and what extra you can pay each month. We compare the snowball and avalanche methods side by side, against paying minimums only.
What does a debt payoff plan look like with real numbers?
Take three debts: a credit card of $4,200 at 24.9% APR (minimum $105), a personal loan of $7,500 at 12.5% (minimum $190) and a car loan of $1,800 at 6.9% (minimum $75), with $150 extra each month. Paying minimums only clears everything after 87 months and costs $7,212.99 in interest. Snowball, which targets the smallest balance (the 6.9% car loan) first, clears everything after 32 months for $3,136.35. Avalanche, which targets the highest rate (the 24.9% credit card) first, finishes after 32 months for $2,809.78, so it costs $326.56 less interest than snowball here.
| Method | Time to be debt-free | Total interest |
|---|---|---|
| Minimums only | after 87 months | $7,212.99 |
| Snowball | after 32 months | $3,136.35 |
| Avalanche | after 32 months | $2,809.78 |
These are the calculator's own results for the starting numbers above. Your own debts will give different figures.
How does a debt payoff calculator work?
A debt payoff calculator adds a month of interest to each balance, takes your payment, and repeats until every balance is zero. Each month we add interest (APR divided by 12, times the balance), then pay the minimum on each debt. Whatever is left of your monthly total goes to the target debt.
Your monthly total is fixed: every minimum plus your extra amount. When a debt is paid off, its minimum rolls onto the next target. That rolling is what makes snowball and avalanche faster than paying minimums only.
Snowball orders debts by balance, smallest first. Avalanche orders them by APR, highest first, as in our snowball or avalanche guide. The order is set from your starting balances.
Minimums only is the baseline: each debt gets just its own minimum and nothing rolls over, so you can see what the extra payment is worth. The calculator stops at 600 months and tells you if a debt is not paid off by then.
Which method is right is a personal call, and this tool is an estimate, not financial advice.
Common questions
What is the difference between the snowball and avalanche methods?
Both pay the minimum on every debt and put everything extra on one debt at a time. The snowball picks the smallest balance first, so you clear whole debts sooner. The avalanche picks the highest interest rate first, which usually costs the least interest. This calculator runs both on your numbers so you can compare.
Why does the calculator say my debt is not paid off?
Either the minimum payment is lower than the interest added each month, or it would take longer than 50 years (600 months), which is where we stop the calculation. Check the balance, APR and minimum you entered, or try adding an extra monthly payment.
How accurate is the debt-free date?
It is an estimate. It assumes the rate stays fixed, interest is added monthly at APR divided by 12, you add no new debt, and you pay every month. Your lender may calculate interest daily, change rates or add fees, so the real date can differ.
Is my information saved or sent anywhere?
No. The calculation runs in your browser and nothing you type is sent to us or stored. Reload the page and the example numbers come back.
Should I use the snowball or the avalanche method?
Avalanche usually costs less interest, because it targets the highest rate first. Snowball clears small debts sooner, which some people find easier to stick with. The calculator shows both for your numbers; the best method is the one you will keep paying. Our post on snowball or avalanche explains the trade-off.
Does paying extra every month really make a difference?
Usually yes. Extra money cuts the balance sooner, so less interest is added next month. Try the extra box at 0 and then at your real figure, and compare the months and interest in the results.
What else can help?
- Debt Payoff Tracker: a planner you buy once, with both methods built in.
- Snowball or avalanche?: how the two methods compare.
- A budget that survives the month: finding the extra money to pay down debt.
- Christmas budget calculator: gifts and costs against a budget.
- Handmade pricing calculator: cost, wholesale, retail and profit.