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Debt payoff calculator
Compare the snowball and avalanche methods for your debts: payoff order, months to debt-free and total interest for each.
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How to use it
- Enter each debt's balance, APR and minimum monthly payment. Add or remove rows as needed.
- Enter the extra amount you can pay each month on top of the minimums.
- Compare the two methods: months to debt-free, total interest and the month each debt is cleared.
- Pick the plan you'll stick with. Re-run it when a balance or rate changes.
Everything runs in your browser. Nothing you type is sent or saved anywhere.
// want this in a spreadsheet?
Plan the whole budget, not just the debt.
The Personal Budget Planner ($17) includes this snowball vs avalanche comparison for up to 6 debts, plus budget vs actual every month, a bill calendar and savings goals. Google Sheets and Excel.
Questions
What's the difference between snowball and avalanche?
Both pay the minimum on every debt and put everything extra on one target debt. Snowball targets the smallest balance first, so you clear debts sooner. Avalanche targets the highest interest rate (APR) first, which usually costs less interest overall. When a debt is paid off, its payment rolls on to the next target.
Which one should I choose?
Avalanche usually saves the most money. Snowball can feel more motivating because you get early wins. The comparison shows the real difference for your debts, which is sometimes small. Either one beats paying only the minimums.
How does the calculator work?
Each month it adds interest (APR ÷ 12 on the balance), pays every minimum, then puts the extra payment plus any freed-up minimums on the target debt. The total you pay each month stays the same until everything is paid off.
Why won't my numbers match my statements?
It's a simple model: fixed APR, monthly interest, no new charges or fees, and the same payment every month. Real cards calculate interest daily, minimums change and rates can move. Treat it as an estimate, not advice.
What if it says the debt is never paid off?
That means the payments don't cover the interest, or it would take more than 50 years. Increase the extra payment and the result will appear.