Debt Payoff Calculator
Plan payoff for several debts at once and compare the avalanche and snowball methods side by side.
How the plan works
Every month you pay the minimum on each debt and send all remaining money, your extra payment plus any minimums freed up by paid-off debts, to one target debt. The calculator simulates both popular ways of choosing the target.
- Avalanche: target the highest interest rate first. This minimizes total interest.
- Snowball: target the smallest balance first. You close accounts sooner, which many people find motivating.
With a $6,000 Visa at 22.9%, a $900 store card at 18% and a $4,000 car loan at 6.5%, paying the minimums plus $200 a month: the avalanche clears everything in 23 months with about $1,720 of interest; the snowball takes 24 months and costs about $2,158. The avalanche saves roughly $440 here.
Entering your debts
Type one debt per line with a name, the current balance, the APR and the minimum payment, separated by commas or spaces. Credit cards, personal loans, medical bills and car loans can all be included. Leave out your mortgage unless you plan to prepay it.
Speeding things up
- Every $100 of extra monthly payment shortens the plan noticeably; try different amounts above.
- A 0% balance transfer can pause interest on the highest-rate card while you pay it down.
- Avoid new charges on cards you are paying off, or the balance keeps refilling.
Frequently asked questions
Is avalanche or snowball better?
Avalanche saves the most money. Snowball can be better if quick wins help you stick with the plan. The difference is often small when your smallest debts also have high rates.
Should I include my mortgage?
Usually not. Mortgages have low rates and long terms; focus extra money on high-interest debt first.
What if I can only pay minimums?
Then each debt follows its own schedule. Even $25–50 extra a month directed at one debt can save months of payments.
Last reviewed October 2026. Results are estimates; check important decisions with a qualified professional.