💳 Calculator Tools

Debt Payoff Calculator

List your debts, add what you can pay extra, and compare the snowball vs avalanche strategies — payoff date, interest paid, and the exact order to attack.

Your debts

Debt-free in

4y 3m

paying $5,187 interest on $34,500 of debt

Your $200/mo extra saves $4,382 and 25 months vs minimums only.

Payoff order (avalanche)

  1. 1Credit card
  2. 2Car loan
  3. 3Student loan
Snowball instead: 4y 3m, $5,187 interest (same)
About this calculator

Snowball vs avalanche — with your real numbers

Paying off multiple debts is a sequencing problem: minimums must be paid on everything, but where should every spare dollar go? The avalanche method targets the highest interest rate first and is mathematically optimal; the snowball method targets the smallest balance first and delivers faster psychological wins. This calculator simulates both, month by month, with your actual debts.

Enter each debt's balance, APR and minimum payment, add whatever extra you can commit monthly, and see your debt-free date, total interest, and the exact payoff order. As each debt clears, its minimum payment automatically rolls into the next target — the compounding effect that makes both strategies accelerate over time.

100% freeNo sign-upCompare both strategiesPrivate — runs locally
How to use it
  1. 1List every debt with its current balance, APR and minimum monthly payment.
  2. 2Enter the extra amount you can pay each month on top of all minimums.
  3. 3Pick avalanche (highest APR first) or snowball (smallest balance first).
  4. 4Compare: the card shows your debt-free date and interest for the chosen strategy, plus what the other strategy would cost.
What it simulates
  • True month-by-month amortization across all debts simultaneously
  • Rollover of freed-up minimum payments as each debt clears
  • Side-by-side interest and time comparison of both strategies
  • Savings vs paying minimums only
  • Exact payoff order so you know which debt to attack now
  • Any number of debts — credit cards, loans, BNPL, medical bills

Frequently asked questions

Which is better, snowball or avalanche?
Avalanche always costs the least in interest because it kills the most expensive debt first. Snowball closes accounts sooner, which keeps many people motivated. The calculator shows the exact dollar difference for your situation — if it is small, pick whichever keeps you paying.
What does the extra payment change?
Everything. Minimums are designed to keep balances alive for years; the extra amount is what actually shortens the timeline. Even $50–$100 a month typically cuts years and thousands in interest — the results card shows your exact savings.
What APR do I enter for a credit card?
Use the purchase APR from your statement (US cards commonly run 18–29%). If a card has a 0% promotional rate, enter 0 and remember to update it when the promo ends.
Should I save or pay off debt first?
A common rule: keep a small emergency buffer (e.g. one month of expenses), then attack any debt whose APR exceeds what savings or investments realistically earn — which almost always means credit cards first. This tool is educational, not financial advice.
Is my debt information private?
Completely. The simulation runs in your browser's memory only — nothing is uploaded, saved or shared, and refreshing the page clears it.