Debt Payoff Calculator
Add your debts below to see exactly when you'll be debt-free and how much you'll pay in interest.
Your Debts
Any extra amount you can put toward debt each month
Your Payoff Plan
Add your debts and click "Calculate" to see your personalized payoff plan
Payoff Order
How to Pay Off Debt Faster
Avalanche Method
The avalanche method prioritizes debts with the highest interest rates first. This approach saves you the most money on interest over time.
- Saves the most money on interest
- Mathematically optimal
- May take longer to see first win
Snowball Method
The snowball method prioritizes debts with the smallest balances first. This approach provides quick wins that keep you motivated.
- Quick psychological wins
- Easier to stay motivated
- May pay more interest overall
Frequently Asked Questions
How accurate is this calculator?
Our calculator uses standard amortization formulas. Results assume consistent payments and no new debt. Actual payoff dates may vary based on payment timing, rate changes, and additional charges.
Which method is better: avalanche or snowball?
Mathematically, avalanche saves more money. But research shows many people are more successful with snowball because of the motivation from quick wins. Choose the method you'll actually stick with.
Should I pay more than the minimum?
If you can afford it, yes! Even an extra $50-100/month can cut years off your payoff date and save hundreds or thousands in interest. Use the "Extra Payment" field above to see the impact.
What if I have a 0% APR card?
Pay attention to when the promotional rate ends. With avalanche, focus on other debts first. With snowball, tackle it based on balance. Make sure it's paid off before the promo period ends to avoid retroactive interest.