Free Debt Payoff Calculator

Compare your debt payoff
strategy

Enter your debts, minimum payments, interest rates, and the extra amount you can pay each month to compare avalanche and snowball payoff paths.

Debt payoff calculator

This calculator estimates payoff timelines using simplified monthly interest. Keep making every minimum payment while targeting one debt with extra money.

United States view: Amounts are shown in United States dollars. Credit cards, personal loans, and auto loans may calculate interest differently than this simple model.

US$

This is money above your required minimum payments. The calculator adds it to the target debt first.

How avalanche works

The avalanche method pays every minimum, then sends extra money to the debt with the highest interest rate first. It is usually the strongest math-first strategy.

  • Best for reducing estimated interest.
  • Useful when one debt has a much higher rate.
  • Can feel slower if the highest-rate debt has a large balance.

How snowball works

The snowball method pays every minimum, then sends extra money to the smallest balance first. It is often used when motivation matters more than pure math.

  • Best for quick account-level wins.
  • Useful when debt feels overwhelming.
  • May cost more interest if low-balance debts have low rates.
Read the debt payoff guide Use the emergency fund calculator Use the money plan tool Browse money lessons

Frequently asked questions

Avalanche is usually better for minimizing estimated interest. Snowball may be better if quick wins help you stay consistent. The best method is the one you can follow without adding new debt.
Usually no. This calculator is designed for consumer debt such as credit cards, personal loans, auto loans, and similar balances. Mortgages often require a different comparison.
Lenders may calculate interest daily, add fees, change minimum payments, or apply promotional rules. This tool uses a simplified monthly model for educational planning.