Educational tool. Not financial advice. Snowball-vs-avalanche outcomes depend on rate spread and behavioral consistency — the math favors avalanche, but behavior often favors snowball.
Debt Payoff Calculator
Enter your total debt, interest rate, and monthly payment to see how long it takes to become debt-free and how much interest you'll pay.
How to plan debt payoff
- Enter each debt with balance, APR and minimum payment.
- Choose a strategy — avalanche (highest APR first, mathematically optimal) or snowball (smallest balance first, psychologically motivating).
- Set the total monthly amount you can allocate to debt payoff.
- The calculator produces a month-by-month payoff schedule showing when each debt disappears and total interest paid.
Common use cases
- Deciding between avalanche and snowball strategies by seeing the interest-cost difference between them.
- Modelling the impact of an extra $200 per month on total payoff time and interest saved.
- Planning a debt consolidation — comparing a consolidation loan's total cost against staying with current balances.
- Communicating a realistic payoff timeline to a partner or accountability group.
Frequently asked questions
Avalanche or snowball — which is better?
Avalanche saves more interest. Snowball pays off a debt sooner for the psychological win. If you have fallen off prior plans, snowball's motivation can make it the more effective choice in practice.
Should I stop saving while paying off debt?
Keep an emergency fund of 1-3 months and capture any employer retirement match. Beyond that, high-interest debt (20%+ APR) usually beats the expected return of most investments.
Is it worth refinancing to a lower rate?
If the rate drop covers the origination fees within your remaining term, yes. Avoid consolidation loans that extend the term and reduce monthly payments without cutting total interest.
Is my data stored?
No. All payoff calculations run in your browser.
About debt payoff
Understanding your debt payoff timeline helps you make informed decisions about extra payments vs. investing.
- Payoff timeline in months
- Total interest calculation
- Remaining balance chart
- Adaptive sliders
- Payment too low warning
Free. No signup. Inputs stay in your browser. Ads via AdSense (consent required).