Debt Payoff Calculator
List every debt with its balance, minimum payment and rate, add any extra monthly payment, and see two complete payoff plans: the cost-efficient debt avalanche (highest rate first) and the motivational debt snowball (smallest balance first).
TheCalculators — Debt Payoff Calculator
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Debt Free In (Avalanche)
136 months (11 yr 4 mo)
$284,000 debt · $2,629.00/mo · avalanche interest $72,918
⚡ Avalanche vs snowball
- Avalanche Total Interest
- $72,918
- Avalanche Payoff Time
- 11 yr 4 mo
- Snowball Total Interest
- $73,043
- Snowball Payoff Time
- 11 yr 4 mo
- Avalanche Advantage
- $126
- Extra Payment Used
- $100.00/mo
Debt balances
- Auto loan$25,000
- Home mortgage$250,000
- Credit card 1$6,000
- Credit card 2$3,000
Avalanche payoff schedule (highest rate first)
Snowball order: Credit card 2 → Credit card 1 → Auto loan → Home mortgage.
The avalanche saves $126 in interest versus the snowball. If visible quick wins keep you motivated, the snowball’s small premium can still be worth it — the best method is the one you stick to.
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Formula
Minimums on all debts → extra dollars to the target (highest APR = avalanche, lowest balance = snowball); freed payments roll into the next target
Pro tips
- • Rolling each paid-off debt’s payment into the next (the "fixed total" toggle) is what creates the avalanche effect.
- • Attack debts above ~8% APR first — that beats most guaranteed investment returns.
- • Build a small emergency fund first so new surprises don’t go on the credit cards.
FAQ
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