Debt payoff calculator
Free debt payoff calculator comparing the snowball and avalanche methods instantly. See months to debt-free and total interest for each, and which saves more.
How to use
- Add each of your debts. Enter a name, current balance, APR, and minimum monthly payment for every debt you want to pay off, such as credit cards, loans, or store cards.
- Set your total monthly budget. Enter the total amount you can put toward debt each month. It must be at least the sum of all your minimum payments so there's extra to accelerate payoff.
- Compare the two methods. Instantly see months to debt-free and total interest paid for both the snowball and avalanche strategies, side by side.
- See which saves more. The calculator highlights which method clears your debt sooner and how much interest the avalanche approach saves over the snowball.
- Adjust and re-run. Try a higher monthly budget or edit a balance to see how much faster you could be debt-free, then pick the plan you'll actually stick to.
Features
- Snowball and avalanche side by side. Compare both strategies at once with months to debt-free and total interest for each, so the trade-off between motivation and savings is obvious.
- Tells you which saves more. The tool calls out which method clears your debt sooner and the exact interest the avalanche approach saves, taking the guesswork out of the choice.
- Handles multiple debts. Add as many debts as you have, each with its own balance, APR, and minimum payment, for a realistic whole-picture plan.
- Instant and private. Calculations run entirely in your browser and update the moment you change an input. Nothing you enter is uploaded to any server.
- Free with no sign-up. Run unlimited what-if scenarios with no account, no email, and no cost.
When to use it
- Deciding whether to attack your smallest credit card first for a quick win or your highest-rate card to save the most money.
- Seeing how many months sooner you'd be debt-free if you added an extra $100 to your monthly budget.
- Mapping out a payoff plan across several cards and loans before committing to one strategy.
- Estimating the total interest you'd save by choosing the avalanche method over the snowball method.
- Checking whether your current budget is enough to make real progress beyond just the minimum payments.
Is it private?
The debt names, balances, APRs, and budget you enter are processed locally in your browser and are never uploaded.
Frequently asked questions
Is this debt payoff calculator free and private?
Yes, it's completely free with no sign-up and no limits. Everything is calculated locally in your browser, so the debts and amounts you enter are never uploaded to any server and stay on your device.
Is this financial advice?
No. This tool is educational only and does not provide financial advice. Results are estimates based on the values you enter and assume your balances, APRs, and budget stay constant. For decisions about your money, consult a qualified professional.
What is the difference between the snowball and avalanche methods?
Both pay every debt's minimum, then put all your spare budget toward one target debt. The snowball method targets the smallest balance first for fast, motivating wins. The avalanche method targets the highest APR first to minimize total interest. When one debt is cleared, its payment rolls onto the next.
Which method saves more money?
The avalanche method almost always costs less interest and clears debt as fast or faster, because it kills your most expensive debt first. The snowball can cost a little more but delivers quicker early wins, which helps many people stay motivated. This calculator shows the exact difference for your debts.
How is the payoff calculated?
Each month, interest is added to every balance (APR divided by 12), minimum payments are applied to all debts, and your entire remaining budget is thrown at the single target debt chosen by the selected method. The calculator repeats this month by month until every balance reaches zero, counting the months and summing the interest.
Why does my monthly budget need to cover all the minimums?
Each debt requires its minimum payment to avoid penalties, so your total budget has to be at least the sum of all minimums. Anything above that sum is the 'extra' that accelerates payoff. With more extra, both methods finish sooner and you pay less interest overall.
Does it account for fees, penalties, or changing rates?
No. It assumes fixed APRs, fixed minimum payments, and no new charges, late fees, or promotional-rate changes. Real accounts can differ, so treat the months and interest as close estimates and confirm details with your lenders.
Last updated