📋 Debt Payoff Calculator
Compare debt snowball and debt avalanche payoff plans across multiple balances. See your payoff order, debt-free date, total interest, and which strategy saves more money for your exact mix of debts.
Debt 1
Debt 2
Debt 3
Chosen Strategy Summary
Strategy Comparison
How to Use This Calculator
- Enter your total monthly debt budget, not just the minimums.
- List each debt with its balance, APR, and minimum payment.
- Choose snowball or avalanche to see your preferred payoff order.
- Compare the results to see which strategy clears debt faster or cheaper.
- Adjust the budget to test how an extra $50 or $100 per month changes the timeline.
Example: Three Debts and a $1,200 Budget
Imagine you have a $6,500 credit card at 22.9%, a $14,000 auto loan at 7.2%, and a $9,000 student loan at 5.4%. Your minimums total $640 per month, but you can afford to send $1,200 total toward debt.
📋 What This Shows
- Debt avalanche usually saves more interest because it targets the highest APR first.
- Debt snowball may knock out a smaller balance sooner and feel more motivating.
- The bigger your monthly budget above the minimums, the faster both strategies improve.
- Adding even $100 more per month can dramatically reduce your total payoff timeline.
Why Use This Calculator?
See debt snowball and avalanche side by side using your actual numbers.
Find out how much interest each strategy may cost over time.
Understand when you could become debt-free instead of guessing.
All debt calculations happen in your browser with no account required.
Common Mistakes
Using only minimum payments. Minimums keep debt alive for a long time. The real progress starts when your total monthly budget is meaningfully above the minimums.
Ignoring APR differences. Two debts with similar balances can have very different long-term cost because of the interest rate.
Switching strategies every month. Both snowball and avalanche can work, but consistency matters more than constantly changing plans.
Skipping emergency savings. Paying debt aggressively is useful, but not if every surprise pushes you back onto a credit card.
Frequently Asked Questions
What is the difference between debt snowball and debt avalanche?▼
Which strategy saves more money?▼
Can I use this for student loans, personal loans, and credit cards?▼
What if my monthly budget is not enough?▼
Should I pay off debt or invest first?▼
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