Debt Payoff Calculator

1. 01List your debtsAdd each debt with its current balance, annual interest rate (APR), and minimum monthly payment.
2. 02Enter your extra monthly paymentAny amount beyond the combined minimum payments that you can put toward debt each month.
3. 03Choose snowball or avalancheSnowball targets the smallest balance first (for quick psychological wins); avalanche targets the highest interest rate first (for the lowest total interest paid).

• Comparing snowball vs avalanche for your own debtsRun the same debts through both strategies to see the actual difference in payoff time and total interest for your specific numbers.
• Seeing exactly when each debt will be paid offGet a concrete payoff month for every debt, not just a total, so you can plan around specific milestones.
• Testing how a larger extra payment changes the timelineAdjust the extra monthly payment amount to see how much faster you could be debt-free.

• The classic "rollover" effectOnce a debt is fully paid off, this calculator redirects its minimum payment amount toward your next targeted debt, on top of your extra payment — the defining feature of both the snowball and avalanche methods.
• Why avalanche usually saves more moneyBy targeting the highest-interest debt first with extra payments, avalanche generally results in less total interest paid over the life of the plan than snowball, even though the specific payoff order can sometimes look similar.
• Why snowball is popular anywaySnowball prioritizes paying off the smallest balance first, which can create faster, more frequent "wins" that make it easier to stay motivated, even if it is not always the mathematically cheapest path.

Each debt's interest rate (APR) is assumed fixed for the entire simulation, with interest compounding monthly (APR ÷ 12 applied to the current balance each month). Your total monthly budget — every debt's minimum payment plus your extra payment — is assumed to stay constant throughout, with freed-up minimum payments rolling onto your next targeted debt as debts get paid off. This does not model fees, promotional rate periods, rate changes, or missed payments.

Both methods pay the minimum on every debt each month. The difference is where the extra payment goes: snowball sends it to the debt with the smallest remaining balance; avalanche sends it to the debt with the highest interest rate. Avalanche is mathematically guaranteed to result in equal or lower total interest paid compared to snowball for the same debts and extra payment — but it will not always finish debts in the same order that snowball does, since a high-interest debt with a large balance can still take a while to clear even while receiving all the extra money.

If a debt's minimum payment does not even cover the interest accruing on it each month (and no extra payment or freed-up rollover eventually reaches it), that debt's balance would grow indefinitely rather than shrink. This calculator detects that case and shows no result rather than an artificially large but misleading payoff time — try a higher minimum payment or extra payment.

Which is better: snowball or avalanche?

Avalanche (highest interest rate first) mathematically minimizes total interest paid. Snowball (smallest balance first) often produces faster early "wins," which some people find easier to stick with. Try both here with your real numbers to see the actual difference for your situation.

Does this account for interest rate changes or promotional periods?

No — every debt's interest rate is treated as fixed for the entire simulation. If a rate is scheduled to change (like the end of a promotional 0% period), the result will not reflect that.

Why does the payoff order look the same for both strategies sometimes?

Avalanche guarantees the lowest total interest, not that the highest-interest debt always finishes first chronologically — if that debt has a much larger balance, it can still take longer to clear even while receiving all the extra payment, so the finishing order can end up similar to snowball's while the total interest paid still differs.

Is my data saved?

No. Everything is calculated in your browser; nothing is sent to a server.