How to use this debt payoff calculator
Enter each debt balance, APR, minimum payment, and any extra monthly payment you can add. The calculator compares paying the highest-interest debt first with paying the smallest balance first.
Free finance calculator
Debt Payoff Calculator
Compare debt snowball and debt avalanche strategies to estimate payoff time, total interest, and how much extra payments can help.
- Snowball vs avalanche
- Payoff timeline
- Total interest
- Extra payment effect
Payoff estimate
Recommended strategy
Estimated best strategy
$0
Enter your debt details to compare payoff strategies.
- Selected strategy payoff
- 0 months
- Selected strategy interest
- $0
- Avalanche payoff
- 0 months
- Avalanche interest
- $0
- Snowball payoff
- 0 months
- Snowball interest
- $0
Estimate only. Confirm actual payoff details with each lender before making financial decisions.
Debt snowball vs debt avalanche
The avalanche method usually reduces interest by targeting the highest APR first. The snowball method targets the smallest balance first, which can create faster visible wins and help motivation.
What this calculator does not include
This estimate does not include new purchases, penalty rates, late fees, balance transfer fees, promotional APR expirations, or lender-specific minimum payment changes.