Debt Payoff Calculator

List your debts, add any extra you can pay each month, and compare the snowball and avalanche methods. See your debt-free date and how much interest each plan costs.

Debt nameBalance ($)APR (%)Minimum ($)
Avalanche (highest rate first)
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    Snowball (smallest balance first)
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      How the plan works

      1. Every month, each debt is charged interest and gets its minimum payment.
      2. Your extra payment goes to the target debt: the highest rate (avalanche) or the smallest balance (snowball).
      3. When a debt is paid off, its minimum rolls into the extra payment for the next target.

      Example

      Three debts: a $900 store card at 19%, a $4,200 Visa at 26% and a $9,500 car loan at 7%, with $250 extra a month. Both methods finish in 24 months, but the avalanche pays the Visa first and saves about $65 in interest. Paying only the minimums would take about 45 months and cost around $4,600 in interest, so the extra $250 saves over $2,800.

      Tips that make any plan work

      • Automate the minimums so you never miss a payment or pay a late fee.
      • Find the extra money: trim one or two subscriptions, sell unused items, or put windfalls toward the target debt.
      • Stop adding new debt while you pay down the old.
      • Keep a small emergency fund so a surprise bill does not go straight onto a credit card.

      Only one card to clear? The credit card payoff calculator is simpler.

      Last reviewed October 2026.

      Frequently asked questions

      What is the debt snowball method?

      With the snowball method you pay the minimum on every debt and put all extra money toward the smallest balance first. When it is paid off, its payment rolls onto the next smallest. Quick wins keep many people motivated.

      What is the debt avalanche method?

      With the avalanche method you put extra money toward the debt with the highest interest rate first. It usually saves the most interest and can finish sooner, though the first payoff may take longer.

      Which method is better?

      Avalanche is mathematically cheaper. Snowball can be easier to stick with because you see debts disappear sooner. The calculator shows both side by side, so you can see how much the difference really is for your debts.

      What happens when one debt is paid off?

      Its minimum payment is not dropped from your budget. It rolls over to the next debt in line, so your total monthly payment stays the same until everything is paid. That rollover is what makes both methods powerful.

      Should I include my mortgage?

      Most people leave out the mortgage and focus on credit cards, personal loans, car loans and medical bills. Including a mortgage makes the timeline very long and can hide the progress on smaller debts.