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🎯 Debt Payoff Calculator

A debt payoff calculator compares the snowball method (pay smallest balance first for quick wins) vs the avalanche method (pay highest interest rate first to minimize total interest). Enter your debts and extra monthly payment to see your debt-free date and total interest paid.

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Payoff time

3y 5m

Total interest

$3,134.34

Total paid

$18,134.34

Total debt balance declining over time

Payoff order (avalanche)

  1. 1Credit Card
  2. 2Personal Loan

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Frequently asked questions

Which is better: debt snowball or avalanche?
Avalanche saves more money (pays less interest), while snowball boosts motivation with quick wins. Research shows snowball works better for most people psychologically.
How much extra should I pay toward debt?
Any extra payment helps. Even $50–100/month extra on high-interest debt can save thousands in interest and shave years off your payoff timeline.

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Disclaimer: This calculator is for informational and educational purposes only. Results are estimates and not financial advice. Consult a licensed financial advisor before making financial decisions.