Debt Payoff Tools
Debt Payoff Calculator
List your debts, add any extra you can pay each month, and compare the avalanche and snowball payoff order.
The values below are examples. Replace them with your own debts.
| Name | Balance ($) | APR (%) | Min. payment ($) | |
|---|---|---|---|---|
| Order | Paid off in | Interest paid |
|---|
This is a rough estimate for education, not financial advice. It assumes rates stay fixed and payments are made on time every month. Nothing you type is sent anywhere.
Avalanche vs. snowball
The avalanche method sends every extra dollar to the debt with the highest interest rate, which minimizes total interest paid. The snowball method sends extra money to the smallest balance first, which clears individual debts faster and can help with motivation. Avalanche usually saves more money; snowball often keeps people more consistent. Try both above and see the difference for your own numbers.
Frequently asked questions
Should I stop saving to pay off debt faster?
Most planners suggest keeping a small emergency fund even while paying off debt, so a surprise expense does not force you back into it.
Does this handle 0% promotional balances?
Enter 0 as the APR for the promotional period, then update the balance and APR once the promotion ends, or use the balance transfer calculator.
Related: the balance transfer calculator and the debt-to-income calculator.