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Debt Payoff Calculator

Plan your way out of up to three debts at once. Enter each balance, APR and minimum payment, add whatever extra you can afford each month, and choose the avalanche or snowball method. You get the number of months until you are debt-free and the interest saved compared with paying minimums only.

Quick examples
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Leave a balance at 0 to skip that debt.

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Months until debt-free37
That is
3 years 1 month
Total interest
$3,426.61
Total paid
$23,426.61
Monthly payment toward debt
$650.00
Interest saved vs minimums only
$4,161.09

Combined balance over time

PeriodPaidInterestBalance left

Saved setups

Save a set of inputs you reuse — your usual rate, your loan, your room sizes — and load it back in one tap.

    Your recent calculations

    Results you calculate here are kept on this device so you can come back to them.

      Formula

      Monthly budget = sum of minimum payments + extra
      Each month every debt accrues balance × APR ÷ 12 and receives its minimum
      All remaining budget goes to the target debt: highest APR (avalanche) or smallest balance (snowball)
      When a debt is cleared, its payment rolls over to the next target

      How to use it

      1. Enter the balance, APR and minimum payment for each debt; leave unused rows at 0.
      2. Enter the extra amount you can put toward debt each month.
      3. Choose a strategy and compare the months and total interest between the two.

      Worked examples

      A single $3,000 debt at 18% with a $100 minimum and $50 extra

      Months until debt-free
      24
      That is
      2 years
      Total interest
      $593.48
      Total paid
      $3,593.48
      Monthly payment toward debt
      $150.00
      Interest saved vs minimums only
      $422.01

      $6,000 at 22%, $12,000 at 7% and $2,000 at 15% with $200 extra, avalanche

      Months until debt-free
      37
      That is
      3 years 1 month
      Total interest
      $3,426.61
      Total paid
      $23,426.61
      Monthly payment toward debt
      $650.00
      Interest saved vs minimums only
      $4,161.09

      The same three debts with the snowball method

      Months until debt-free
      37
      That is
      3 years 1 month
      Total interest
      $3,654.51
      Total paid
      $23,654.51
      Monthly payment toward debt
      $650.00
      Interest saved vs minimums only
      $3,933.18

      Avalanche versus snowball

      Avalanche attacks the highest interest rate first and always costs the least interest. Snowball clears the smallest balance first, which gives quicker wins and frees up a minimum payment sooner; many people find it easier to stick with.

      With $6,000 at 22%, $12,000 at 7% and $2,000 at 15% and $200 extra a month, both methods finish in 37 months. Avalanche costs $3,426.61 in interest and snowball $3,654.51 — a $227.90 difference. The gap grows when the high-rate debt is also the large one.

      What the model assumes

      The total monthly payment stays constant until everything is paid, minimums do not shrink as balances fall, and no new debt is added. Real card minimums do fall over time, so the “minimums only” comparison here is, if anything, optimistic about how long minimum payments take.

      Questions people ask

      Which is better, debt snowball or debt avalanche?

      Avalanche is cheaper; snowball is often easier to keep up. In the three-debt example above avalanche saves $227.90 and both take 37 months, so pick the one you will actually follow.

      How much does paying extra save?

      A lot. Adding $200 a month to the $650-a-month example saves $4,161.09 in interest compared with paying only the minimums.

      How long to pay off $3,000 at 18%?

      With a $100 minimum and $50 extra ($150 a month), 24 months and $593.48 in interest — $422.01 less than paying $100 a month.

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