Debt payoff calculator●
Add your debts, choose snowball or avalanche, and see when you are debt free and how much interest it costs.
The result updates as you type. Nothing you enter leaves this page.
Your plan
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Payoff order
| No. | Debt | Paid off after | Interest paid |
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Your debts are used only in this browser tab. Nothing is sent, saved or tracked.
Snowball or avalanche
Both methods start the same way: pay the minimum on every debt and put all the extra money on one debt. With the avalanche method that debt is the one with the highest interest rate, which usually gives the lowest total interest. With the snowball method it is the smallest balance, so debts disappear sooner and the monthly money freed up rolls onto the next debt, which many people find easier to stick with. The calculator runs both month by month, charging interest at the yearly rate divided by 12, so you can see the real difference for your own debts. When one debt is cleared, its minimum payment is added to the next one, so the total you pay each month never changes.
Loan calculator →Common questions
What is the debt snowball method?
Pay the minimum on every debt and put all extra money on the smallest balance. When it is gone, move its payment to the next smallest balance.
What is the debt avalanche method?
Pay the minimum on every debt and put all extra money on the debt with the highest interest rate. It usually saves the most interest.
Which method is better?
Avalanche is cheaper or equal in interest. Snowball clears debts faster at the start. The calculator shows both so you can compare the cost for your numbers.
Why must my monthly total cover the minimums?
Missing a minimum payment usually means fees and damage to your credit. The plan assumes every minimum is paid every month.
What if my monthly amount is too low?
If interest grows as fast as you pay, the balance never falls and the calculator tells you so. Raise the monthly amount or lower the rate, for example by refinancing.
Is my debt information stored?
No. The numbers stay in your browser tab and are never sent or saved.