Debt Payoff Calculator
Compare the snowball and avalanche debt payoff strategies across multiple debts and see exactly when you'll be debt-free.
Debt-free in
3y 1m
Paying $2,298.66 in total interest
How the Debt Payoff Calculator works
Add each of your debts with its balance, interest rate, and minimum payment, then choose a strategy and an extra amount to put toward debt each month. The calculator simulates your payoff month by month — applying interest, minimum payments, and your extra payment in priority order — until every debt reaches zero.
Frequently asked questions
What's the difference between avalanche and snowball?
Avalanche pays off the highest-interest debt first, minimizing total interest paid. Snowball pays off the smallest balance first, which can build momentum and motivation even if it costs slightly more in interest.
How is the extra payment applied?
Every debt's minimum payment is always paid first. Any extra amount you enter is then applied entirely to your top-priority debt (by your chosen strategy) until it's paid off, then rolls to the next one.
Does this account for interest accruing each month?
Yes — the simulation calculates interest on every debt's remaining balance each month before applying payments, so the results reflect real amortization.