Debt Payoff Calculator
Use this debt payoff calculator to compare snowball vs avalanche, see how long until you're debt-free, and how much interest you'll pay. Enter your debts and extra payment to get a payoff timeline and payoff order.
With the snowball method you pay off the smallest balance first for quick wins; with the avalanche method you pay the highest interest rate first to save the most money. This debt payoff calculator shows your payoff timeline and total interest for both strategies so you can choose and stay on track.
How to use this debt payoff calculator
Add each debt (credit cards, loans, etc.) with its current balance, APR, and minimum monthly payment. Enter how much extra you can put toward debt each month and choose snowball (smallest balance first) or avalanche (highest interest first). The calculator shows how many months until you're debt-free, total interest paid, and the order each debt is paid off. Switch strategies to compare interest and timeline.
Amount you can add on top of minimums toward one debt at a time.
- Credit Card A — paid off in month 12
- Credit Card B — paid off in month 16
- Personal Loan — paid off in month 24
How the snowball and avalanche methods work
With both methods you pay the minimum on every debt each month. The difference is which debt gets your extra payment. With snowball, you target the debt with the smallest balance first. When it’s paid off, you roll that payment (minimum + the extra you were putting there) to the next smallest balance. With avalanche, you target the debt with the highest interest rate (APR) first, then the next highest, and so on. Avalanche typically saves more in interest; snowball can be more motivating because you see balances hit zero sooner.
Why use a debt payoff calculator?
A debt payoff calculator shows you how long it will take to become debt-free and how much interest you'll pay—so you can set a realistic timeline and see the cost of carrying debt. It also lets you compare snowball vs avalanche with your real numbers: sometimes the interest difference is small, sometimes large. Seeing the payoff order and total interest helps you decide which strategy fits your goals and motivation. Adding extra payment amounts shows how even a small increase can shorten your timeline and save money.
When to use snowball vs avalanche
Use avalanche if you want to minimize total interest and can stay motivated without quick wins—you'll pay the highest-APR debt first. Use snowball if you're more motivated by closing accounts and seeing small balances disappear; you'll pay the smallest balance first regardless of rate. For many people, snowball's psychological boost leads to better follow-through. Run both in this calculator: if the interest difference is small, snowball may be the better choice for you; if avalanche saves a lot, it might be worth the extra discipline.
Tips for paying off debt faster
Pay at least the minimum on every debt every month to avoid fees and damage to your credit. Put any extra toward one target debt at a time (snowball or avalanche). When one debt is paid off, roll that payment to the next so your momentum grows. Use this debt payoff calculator to see how much an extra $50, $100, or $200 per month shortens your timeline. Consider redirecting windfalls (tax refunds, bonuses) to debt. Avoid adding new debt while you're paying down existing balances. If you have high-interest credit cards, see if a balance transfer or lower-rate option makes sense—then use the calculator with the new rate to see the impact.