Debt payoff calculator: find your debt-free date.
List your debts, add whatever extra you can pay each month, and compare the avalanche and snowball strategies side by side — including how much interest each one costs you.
Debt repayment planner
How to use this calculator
- Add each debt with its balance, interest rate and minimum monthly payment.
- Enter the extra amount you can put toward debt each month on top of the minimums.
- Switch between avalanche and snowball to compare the payoff date and total interest.
- Pick the strategy you'll realistically stick with, then set the payments up automatically.
What this assumes
- Interest rates stay fixed and you never miss a payment.
- Once a debt is cleared, its payment rolls into the next debt in the order.
- No new borrowing is added during the payoff period.
Common questions
What's the difference between avalanche and snowball?
Avalanche puts every extra dollar toward the highest interest rate first, so you pay the least interest overall. Snowball targets the smallest balance first, so you clear whole debts sooner and feel the progress. Avalanche wins on maths, snowball wins on motivation.
Which one should I choose?
Run both here and look at the difference in total interest. If it's small, take the snowball — the plan you stick with beats the plan that's technically optimal.
How much extra should I put toward debt?
Whatever is left after your minimums, your essentials and a small emergency buffer. Even an extra 50 a month moves your debt-free date, and you can see exactly how much in the result.
Should I invest or pay off debt first?
Compare the interest rate to the return you'd reasonably expect from investing. High-interest debt like credit cards is close to a guaranteed return when you clear it. Low-rate debt is a closer call, and worth talking through.
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Need help turning the numbers into a plan?
The calculator shows you the numbers. The Financial Clarity Intensive helps you decide what to do with them.