Calculators
Debt Payoff Calculator
Plan payoff of several debts with the avalanche or snowball method, see your debt-free date and compare total interest.
- Runs in your browser
- Nothing uploaded
The tool
Enter your numbers below. Results update as you type, and nothing leaves your browser.
Everything you enter stays on your own machine. Nothing is sent to us or to anyone else, which you can confirm in your browser network tab.
What people use it for
- Building a debt-free plan
- Choosing between avalanche and snowball
- Seeing the effect of an extra monthly payment
- Prioritising which debt to pay first
About this tool
What the Debt Payoff Calculator does
With several debts, the order you pay them in matters. The avalanche method targets the highest interest rate first and saves the most money; the snowball method clears the smallest balance first for quick wins. This calculator simulates both, rolls freed-up payments into the next debt, and compares them.
Formula
- Each month: add interest to every balance, pay every minimum
- Put the extra (and minimums freed by cleared debts) on the target debt
- Avalanche targets the highest APR; snowball targets the smallest balance
Worked example
Using the starting values in the calculator above:
| Input | Value |
|---|---|
| Debts | 4 entries |
| Extra each month | $200 |
| Method | Avalanche (highest rate first) |
| Result | Value |
|---|---|
| Months to debt-free | 35 months |
| Total interest | $4,751 |
| Interest saved vs the other method | $183 |
| Months with the other method | 35 months |
| Total debt today | $27,500 |
How to read the result
Avalanche always costs the same or less interest. Snowball can still be the better plan if early wins keep you motivated; the difference is shown above.
Keep paying the same total each month after a debt is cleared. Rolling those payments forward is what makes both methods fast.
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Questions
Questions about this tool
The things clients actually want to know — costs, timelines, ownership and what happens after launch.
Paying minimums on every debt and putting all extra money towards the debt with the highest interest rate.
Paying minimums on every debt and putting all extra money towards the smallest balance first.
Avalanche saves the most interest; snowball delivers faster early wins. The best plan is the one you will stick to.
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