Debt Payoff Calculator
Debt payoff calculator: compare snowball vs avalanche and see your debt-free date Free, no sign-up, and it runs in your browser.
Dedicated page: /en/debt-payoff-calculator
The extra payment goes to one debt at a time. When a debt is cleared, its minimum payment rolls into the next debt.
The comparison table always shows all three strategies.
Your debts (up to 10)
For each debt, pick how its minimum works: a fixed dollar amount, or a percent of the balance plus that month's interest with a $25 floor, which is how most card issuers calculate it.
Estimate only, not financial advice. APRs are entered by you; check your statement for the exact rate on each debt. Check the current average credit card APR here. This tool assumes you make no new charges and your minimum payments stay the same. Interest is estimated as APR divided by 12 each month; issuers that charge daily interest will differ by a few dollars.
Quick answer
A debt payoff calculator compares snowball and avalanche for up to 10 debts. Enter each balance, APR and minimum, add your extra monthly payment, and it shows the payoff order, the month each debt clears, and a month-by-month schedule you can download.
About this Debt Payoff Calculator
Debt payoff calculator: compare snowball vs avalanche and see your debt-free date It is one of the Money and Finance on ToolUstad, and like every tool here it runs entirely in your browser: nothing you type, paste or open is uploaded to a server, and there is no sign-up or usage limit.
What is a debt payoff calculator?
A debt payoff calculator turns a pile of debts into a plan. Most people in debt have several: two or three cards, a personal loan, maybe a medical bill. Each one has its own balance, its own APR and its own minimum payment. The question is not how much you owe, it is what order to pay them in, and how much extra to pay each month. This calculator answers both, and it shows the two classic strategies side by side.
Take three debts: Card A $5,000 at 24% with a $120 minimum, Card B $1,500 at 19% with a $40 minimum, and Loan C $6,000 at 9% with a $150 minimum. With $200 extra a month, the budget is $510. The avalanche clears everything in 30 months with $2,405.61 of interest. The snowball also takes 30 months but costs $2,525.07. Paying only the minimums takes 91 months and costs $7,812.04.
Snowball vs avalanche
The snowball pays the smallest balance first. Card B, at $1,500, goes first, then Card A, then Loan C. Small debts disappear fast, and each one you close feels like a win. A 2012 study found closing accounts predicted who got out of debt. The avalanche pays the highest APR first. Card A, at 24%, goes first, then Card B, then Loan C. It always costs the least interest, because the most expensive balance shrinks first. Pick the one you will finish.
How the plan works, month by month
Your monthly budget is the minimums plus your extra payment. Every month, each debt gets its minimum, and the extra goes to the target debt. When a debt is cleared, its minimum is freed up, and that money rolls into the next target debt. That rollover is what cuts months off the plan. Card minimums are usually 1% of the balance plus interest, with a $25 to $40 floor; loans have a fixed minimum. The schedule shows every debt balance at the end of each month. You can see Card B gone in month 7, Card A gone in month 23, and Loan C gone in month 30.
Best practices
- List every debt, including the small ones: a $300 store card at 29% costs more per dollar than a $6,000 loan at 9%.
Common mistakes to avoid
- Paying only the minimums, which takes 91 months and $7,812.04 of interest on the example debts.
- Consolidating without changing the spending that built the debt.
Who is the debt payoff calculator for?
Anyone with more than one debt who wants a plan, anyone choosing between snowball and avalanche, and anyone who wants to see what an extra $100 a month really buys.
Current value, checked 10 Nov 2026: APRs are user-entered, because every debt has its own rate. As a reference, the Federal Reserve G.19 average credit card APR for accounts assessed interest is 22.36% in Q3 2026. Check the current Federal Reserve G.19 APR here.
This calculator is an estimate only, not financial advice. Your actual payoff depends on your lender terms, minimum payment rules and any fees. If you cannot make the minimums, contact a non-profit credit counsellor.
Learn: how to use the Debt Payoff Calculator
- List each debt with its balance, APR and minimum payment. Up to 10 debts.
- Pick each debt minimum rule: a fixed amount, or a percent of the balance plus interest.
- Enter the extra payment you can make each month on top of the minimums.
- Compare the three strategies, then open the month-by-month schedule for the one you pick.
Features
- Up to 10 debts: cards, personal loans, medical bills, any debt
- Snowball vs avalanche vs minimums only, side by side with months and interest
- Payoff order plus the month each debt clears and the interest paid on it
- Per-debt minimum rules: fixed amount or percent of balance plus interest
- Month-by-month schedule with every debt balance, downloadable as CSV
- Total owed over time, avalanche against snowball
- What a bigger monthly budget does, at four budget levels
Worked example
Three debts: Card A $5,000 at 24% with a $120 minimum, Card B $1,500 at 19% with a $40 minimum, and Loan C $6,000 at 9% with a $150 minimum. With $200 extra a month, the monthly budget is $510. The avalanche clears everything in 30 months with $2,405.61 of interest. The snowball also takes 30 months but costs $2,525.07, which is $119.46 more. Paying only the minimums takes 91 months and costs $7,812.04 in interest.
Frequently asked questions
What is the debt snowball method?
Pay the minimum on every debt, then put all extra money on the smallest balance. When it is cleared, its payment rolls into the next smallest. Small debts disappear fast, which keeps people motivated.
What is the debt avalanche method?
Pay the minimum on every debt, then put all extra money on the highest APR. When it is cleared, move to the next highest rate. It always costs the least interest, because the most expensive balance shrinks first.
Which method is better?
For total cost, the avalanche. For motivation, the snowball. A 2012 study found that the number of accounts people closed, not the dollars, predicted who got out of debt. Pick the one you will finish; the gap between the two is usually small next to the gap between either of them and paying minimums only.
How do freed-up minimums roll over?
The monthly budget stays the same. When a debt is cleared, its minimum is no longer due, so that money becomes extra for the next target debt. That rollover is what cuts months off the plan.
How does my lender calculate my minimum payment?
Most card issuers charge a percent of the balance, often 1%, plus that month interest, with a floor of $25 to $40. Loans usually have a fixed minimum. Pick the matching rule for each debt in this calculator.
How many debts can I add?
Up to 10. Cards, personal loans, medical bills, store cards, any debt with a balance, an APR and a minimum payment. Add the highest APR debts first if you are short on time.
What happens if my extra payment is not enough to cover the minimums?
The calculator warns you. Your monthly budget must be at least the sum of the first month minimums. Raise the extra payment, or the plan cannot start.
Related tools
More Money and Finance like this one, plus two picks from other categories. Each opens its own dedicated page.