Using the calculator
Enter Payoff strategy, Extra monthly debt budget, Debt 1 balance, Debt 1 APR, and the other fields shown. Compare debt snowball and avalanche strategies across three debts with monthly minimums and a shared extra payment budget.
FREE CALCULATOR · NO SIGN IN REQUIRED
Debt Payoff Calculator
Compare debt snowball and avalanche strategies across three debts with monthly minimums and a shared extra payment budget.
Enter your financial details
Use current balances, rates, payments, income, costs, or tax figures that match the scenario. The debt payoff tool uses those values to produce an estimate you can compare and plan around.
$
$
%
$
$
%
$
$
%
$
Debt free timeline—
Total interest paid—
Starting debt—
Starting monthly debt budget—
Did this calculator help you today?
How to use this calculator
Reading the result
The result shows debt snowball and avalanche strategies across three debts with monthly minimums and a shared extra payment budget.
Results are estimates based on the values entered. Review the Methodology and Calculator Disclaimer for important limitations.
Common questions
Should I use the snowball or avalanche method?
They prioritize debt differently. A snowball approach focuses on smaller balances while an avalanche approach generally prioritizes higher rates. The best plan is one the budget can sustain and that matches the chosen objective.
Why compare more than one monthly payment?
A small payment increase can change both payoff time and interest. Comparing realistic payments shows the benefit without assuming the household can afford an extreme amount.
Does the calculator include every fee?
Only costs represented by the inputs can be included. Late fees, changing rates, promotional terms or other account charges can make actual payoff different.
Related reading
Want the context behind the numbers?
Compare debt payoff scenarios →