Free debt tool

Debt Payoff Calculator

Compare debt snowball and debt avalanche strategies, estimate your debt-free month, and see how extra payments could change your timeline.

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Debt Details

Compare snowball vs avalanche

Debt 1
Debt 2
Debt 3
Minimums: $355 per month
Total debt: $11,400
Payoff Plan

See which strategy gets you free faster

Debt snowball
2 years 9 months
Debt-free month
December 2028
Interest paid
$2,580
Debt avalanche
2 years 9 months
Lowest interest
Debt-free month
December 2028
Interest paid
$2,395
Avalanche saves about $186 in this setup. Snowball usually feels easier to stick to because you close small balances sooner. Avalanche usually minimizes total interest by targeting the highest APR first.
Why it matters

See the real payoff timeline

Debt feels endless when there is no end date. A calculator turns your balances, rates, and payments into a visible plan.

Compare strategies

Snowball vs avalanche

Use the same debts and extra payment amount to compare the motivational method against the most interest-efficient method.

Pressure test extra payments

See what an extra $50 does

Even a modest extra payment can move the debt-free date forward. Use the slider field to test different monthly amounts.

How to use it

Start with every debt you are actively paying down

Add each balance, annual percentage rate, and minimum payment. Then add the extra amount you can realistically put toward debt every month.

The calculator will estimate how long each strategy takes and how much interest you could pay along the way. That makes the tradeoff visible before you commit.

What to include
  • Include: credit cards, personal loans, store cards, and other balances with monthly minimums
  • Use real APRs: the closer your inputs are to reality, the better the payoff estimate
  • Use a realistic extra payment: pick a number you can repeat every month, not a best-case guess
FAQ

Debt payoff questions

What is the debt snowball method?

The debt snowball method pays minimums on every debt and sends extra money to the smallest balance first. It is popular because it creates quick wins.

What is the debt avalanche method?

The debt avalanche method pays minimums on every debt and puts extra money toward the highest interest rate first. It usually saves more in total interest.

Should I choose snowball or avalanche?

Choose the method you are most likely to stick with. Avalanche often wins on math. Snowball often wins on motivation. This calculator helps you compare both.

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