Calculators / Debt Payoff
Debt Payoff Planner
List your debts, add whatever extra you can throw at them, and pick a strategy. Avalanche targets the highest interest rate first (least interest paid); snowball clears the smallest balance first (fastest wins for motivation). See your payoff date and exactly what the extra saves you.
Your debts $0
| Debt | Balance $ | APR % | Min $/mo | |
|---|---|---|---|---|
Your plan · Minimums only · the gap is time + interest saved
How this works
Each month, interest is added to every balance, minimum payments are made, and the leftover (your extra, plus the minimums freed up as debts get cleared) is thrown at one target debt. That "rolling" payment is what makes both methods fast.
Avalanche orders debts by highest APR first, mathematically the least total interest. Snowball orders by smallest balance first, so you clear whole debts sooner, which many people find easier to stick with. The "minimums only" line pays each debt its minimum with nothing rolled over, the slow default.
Simplifications: fixed APR and minimums, monthly compounding. Illustrative, not advice.
Illustration only. Accuracy not guaranteed. A simplified model for education, not financial advice, and not credit counseling, debt settlement, or debt-adjusting advice. It only does math on the numbers you enter. See the disclaimer.