This debt payoff calculator builds a month-by-month plan for all your debts at once. Add each credit card or loan with its balance, APR and minimum payment, then enter any extra amount you can pay each month. You’ll see your debt-free date, total interest and the payoff order under both the debt avalanche and debt snowball methods.
Debt Payoff Calculator (Snowball vs. Avalanche)
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Avalanche vs. snowball
- Debt avalanche: pay minimums on everything, then put every extra dollar toward the debt with the highest APR. It usually saves the most interest.
- Debt snowball: target the smallest balance first. You’ll clear individual debts sooner, and those quick wins keep many people motivated.
With both methods, when one debt is paid off its minimum payment rolls into the next target, so your payoff speeds up over time.
Frequently asked questions
Which method is better?
Mathematically, the avalanche wins. In practice, the best method is the one you’ll stick with. If the difference in interest is small, the snowball’s early wins can be worth it.
Should I consolidate instead?
A debt consolidation loan or a 0% balance transfer card can cut your interest rate. Compare the numbers before you apply.
Related: Avalanche vs. Snowball Guide, Credit Card Payoff Calculator, All Financial Calculators.