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Debt Payoff Calculator

Plan your way out of debt — compare the avalanche and snowball methods side by side.

  • 100% free
  • Snowball vs avalanche

Currency

  • $
    %
    $
  • $
    %
    $
  • $
    %
    $
$

On top of all the minimums

Debt-free in (avalanche)

2 years 5 months

Total interest $2,299.88 on $15,200.00 of debt

Avalanche

Highest interest rate first

2 years 5 months

Interest $2,299.88

Order: Store card → Credit card → Car loan

Snowball

Smallest balance first

2 years 5 months

Interest $2,299.88

Order: Store card → Credit card → Car loan

Extra payment saves
$3,229.19
in interest, vs minimums only
And gets you there
1 year 9 months
sooner

Assumes fixed rates and no new spending on these debts. When a debt is paid off, its minimum payment rolls onto the next one.

Last reviewed by the OnlineToolPro team

What is the Debt Payoff Calculator?

Builds a month-by-month payoff plan for several debts at once. Compare the avalanche method (highest interest rate first, least interest overall) with the snowball method (smallest balance first, quicker early wins).

How it works

How to use the Debt Payoff Calculator

3 simple steps. No experience needed.

What can you use it for?

  • Find your debt-free date.
  • See how much an extra payment saves.
  • Choose between snowball and avalanche.

Why minimums must cover interest

If a minimum payment is smaller than the interest added each month, that debt grows forever. The calculator warns you so you can raise it.

FAQ

Frequently asked questions

Snowball or avalanche — which is better?

Avalanche always costs the least interest. Snowball pays off small debts first, which many people find motivating. The calculator shows the real difference for your debts — often it's small.

What happens when one debt is paid off?

Its minimum payment rolls onto the next debt, which is why payoff speeds up over time.

Related guides

Step-by-step help for getting more out of the debt payoff calculator.

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