Debt Payoff Calculator
Plan your debt-free date with the snowball or avalanche method. Add each debt, set an extra payment and see total interest, payoff order and date. Free.
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About Debt Payoff Calculator
The debt payoff calculator builds a month-by-month plan for clearing multiple debts using either the snowball method, which pays the smallest balances first, or the avalanche method, which targets the highest APR first. Add each debt with its balance, APR and minimum payment, set an extra monthly amount, and see your debt-free date.
Interest compounds monthly on every balance. Minimum payments stay fixed, and when a debt is cleared, its freed-up minimum rolls into the next target along with your extra payment — the “snowball” effect that accelerates the plan. The results show total interest, total paid, the payoff date and the exact order your debts fall.
If a minimum payment does not even cover a debt’s monthly interest, the calculator warns you that the balance will grow. The tool is free, and your figures never leave the browser.
How to use Debt Payoff Calculator
- Add each debt with its name, balance, APR and minimum payment.
- Enter any extra monthly payment you can commit beyond the minimums.
- Choose a strategy: snowball (smallest balance first) or avalanche (highest APR first).
- Read your debt-free date, total interest and total paid.
- Review the payoff order to see which debt clears when.