This free debt payoff calculator compares the two most popular repayment plans, the snowball and the avalanche, for up to four debts. Enter each balance, rate and minimum payment, add any extra money you can spare each month, and see the payoff date and total interest. Nothing you type is stored or sent anywhere.
How this debt payoff calculator works
Every month the calculator adds interest to each balance (the APR divided by 12), then pays every minimum. Your extra amount, plus any minimum freed up by a debt that is already paid off, goes to one target debt. The only difference between the plans is which debt is the target.
The snowball targets the smallest balance first. It clears debts quickly, which can keep you motivated. The avalanche targets the highest APR first. It usually costs the least interest. The third row, minimums only, shows what happens if you never add extra. For the ideas behind each plan, read our guide on debt snowball vs debt avalanche.
Example: four debts and $150 extra
The default numbers describe a hypothetical borrower with $16,500 in total debt: a $4,200 card at 24% with a $105 minimum, a $1,800 card at 19% with a $45 minimum, a $7,500 car loan at 8% with a $210 minimum, and a $3,000 personal loan at 12% with a $95 minimum. That is $455 in minimums plus $150 extra, or $605 a month.
- Minimums only: debt-free in 4 years and 2 months, with about $5,931 in interest.
- Snowball: debt-free in 2 years and 10 months, with about $3,506 in interest. The $1,800 card goes first.
- Avalanche: debt-free in 2 years and 9 months, with about $3,125 in interest. The 24% card goes first.
The avalanche saves about $381 here and finishes one month sooner. The snowball is not wrong; it just trades some interest for earlier wins. The best plan is the one you keep following.
What the results do not include
The calculator assumes fixed rates, monthly compounding and no new charges. Credit cards have variable rates, and a promotional rate can change the order. It also ignores fees, deferred interest and the way some lenders apply payments. Treat the debt payoff calculator’s output as a planning estimate and check your statements.
Ways to pay debt off faster
Find extra money in your budget, even $50 a month, and enter it in the debt payoff calculator to see the effect. Our guide on how to pay off $10,000 in debt in 12 months lists practical ideas. A lower rate can also help, so see whether a debt consolidation loan makes sense for your situation, and read the real cost of credit card debt to see why high APRs are so expensive.
Paying balances down also helps your credit. Credit utilization is the share of your card limits you use, and lower is generally better. See how to improve your credit score for more.
If a debt has gone to collections, the Consumer Financial Protection Bureau explains your rights on its debt collection page.
Frequently asked questions
Should I pick snowball or avalanche?
If saving interest matters most, the avalanche is usually cheaper. If you need early wins to stay on track, the snowball can help. The calculator shows the cost of each so you can decide.
What if my minimum is lower than the monthly interest?
The balance will not shrink. The debt payoff calculator warns you. You need a higher payment or a lower rate.
Can I leave a debt out?
Yes. Set its balance to 0. The calculator ignores it.
Does the order of payments change the total I pay each month?
No. The monthly total stays the same. Only the target debt changes, and freed-up minimums roll to the next debt.
Calculators are for education only. They give estimates based on the numbers you enter, not personalized financial, tax or legal advice.