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Debt Payoff Calculator

See when you'll be debt-free and how much interest you'll pay. List your debts, add an extra payment, and compare the avalanche and snowball methods.

Your debts
Debt-free in
2 years 8 months
Total interest
3,264.62
Total debt
19,500.00
Minimum payments only
4 years 8 months
Interest saved vs minimums
3,629.81
Pay off in orderPaid off afterInterest paid
Store card7 months140.80
Credit card1 year 10 months1,710.94
Car loan2 years 8 months1,412.88

A plan to pay off every debt

List each debt with its balance, interest rate and minimum payment. The calculator pays every minimum each month, then puts your extra payment, plus any minimum freed up by a paid-off debt, on one target debt. The avalanche method targets the highest rate first and costs the least interest. The snowball method targets the smallest balance first, for quick wins. With the example debts and $200 extra a month, you're debt-free in 2 years 8 months instead of 4 years 8 months on minimums.

How to use it

  1. 1

    List your debts

    Balance, APR and minimum payment for each.

  2. 2

    Add an extra payment

    Whatever you can put toward debt beyond the minimums.

  3. 3

    Pick a strategy

    Avalanche or snowball, then see the payoff date and order.

Frequently asked questions

Avalanche or snowball?

Avalanche saves the most money. Snowball can keep you motivated with early payoffs. The difference is often small, so pick the one you'll stick to.

What is debt rollover?

When a debt is paid off, its minimum payment is added to the next debt's payment, which speeds things up.

Why does it say never?

If the payments don't cover the monthly interest, the balance never falls. Raise the payment.

Is my debt information stored?

No. It stays in your browser and isn't sent anywhere.

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