Debt Payoff Calculator

List your debts and how much extra you can pay each month to see when you'll be debt-free, which debt goes first, and how the avalanche and snowball methods compare.

On top of all the minimums. Leave blank rows at zero.

Debt-free in
2 years 5 months
Avalanche method
Total interest
$3,039.96
Total paid
$24,039.96
Snowball method instead
2 years 6 months, $3,424.53 interestCosts $384.57 more interest
Saved by paying the extra
$2,576.36and 1 year 2 months sooner than minimums alone
  • When a debt is paid off, its minimum payment rolls into the next debt in line, so your total monthly payment stays at $830.00 until everything is clear. First target: Credit card.
  • Assumes fixed minimum payments, no new borrowing, and interest charged monthly at APR ÷ 12. Card minimums usually fall as balances fall; keeping your payment fixed is what makes the plan work.

Payoff order (avalanche)

DebtBalanceAPRPaid off afterInterest paid
Credit card$6,000.0024%1 year 8 months$1,282.68
Personal loan$3,000.0012%1 year 11 months$478.81
Car loan$12,000.007%2 years 5 months$1,278.47

Avalanche vs snowball

Both methods work the same way: pay the minimum on every debt, put every spare dollar toward one target debt, and when it's gone, add its payment to the next target. The total you pay each month stays the same; it just gets concentrated on fewer debts as they disappear. The only difference is the order.

The avalanche method targets the highest interest rate first. It generally costs the least interest, because the money goes where it's growing fastest. The snowball method targets the smallest balance first. It usually costs a little more, but you clear whole debts sooner, and many people find those early wins help them stick with the plan. On the default debts here, avalanche costs $3,039.96 in interest and snowball $3,424.53, a difference of $384.57.

Why the extra amount matters more than the method

The gap between avalanche and snowball is often small. The amount you pay each month makes a much bigger difference. With the default debts, adding $200 a month to the minimums (avalanche) gets you debt-free in 2 years 5 months instead of 3 years 7 months and saves $2,576.36 in interest. Choose the method you'll keep following, and put as much as you can toward it.

Making the plan work

Use the minimum payment from each statement, and keep paying that amount even when the issuer's required minimum drops. Stop adding to the debts you're paying off. Keep a small emergency fund so a surprise bill doesn't go on a card. If you can get a lower rate through a balance transfer or consolidation loan, rerun the numbers with the new rate and any fees. If payments are unmanageable, a nonprofit credit counselor can review options with you.

How each month is calculated

Interest on each debt = balance × APR ÷ 12Budget = sum of all minimum payments + extraPay each debt its minimum; the rest of the budget goes to the target debt, then the next in order
  • Avalanche order: highest APR first (ties: smaller balance first)
  • Snowball order: smallest balance first (ties: higher APR first)

Example: three debts with $200 extra

  1. Credit card $6,000 at 24% (minimum $180), car loan $12,000 at 7% ($350), personal loan $3,000 at 12% ($100). Total budget: $630 + $200 = $830 a month.
  2. Avalanche: the credit card goes first, getting $380 a month. It's paid off in month 20, the personal loan in month 23 and the car loan in month 29, for $3,039.96 of interest.
  3. Snowball: the personal loan goes first and is gone in month 11, then the card in month 24 and the car in month 30, for $3,424.53 of interest.
  4. Avalanche saves $384.57 here and finishes a month sooner (29 months against 30). Paying only the $630 of minimums, with no extra, would take 43 months and $5,616.32 of interest.

Frequently asked questions

Which is better, debt avalanche or debt snowball?

Avalanche saves the most interest. Snowball gives quicker wins that help some people stay motivated. If the interest difference is small for your debts, as it often is, choose the one you're more likely to stick with.

Should I include my mortgage?

Usually not. Mortgages have long terms and relatively low rates, and the methods are designed for consumer debts like cards, car loans and personal loans. You can include it if you're aiming to be completely debt-free.

What if one of my debts is at 0%?

Enter 0% and its minimum. The avalanche puts it last. If a promotional 0% rate is ending soon, enter the rate it will jump to so the plan reflects reality.

Is debt consolidation better?

A consolidation loan or balance transfer can lower the rate, but watch for fees, longer terms that increase total interest, and the temptation to run the cards up again. Compare the total interest here with the new loan's total cost.

Sources

Last reviewed for 2026. How we calculate.