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Debt payoff calculator
List what you owe, choose snowball or avalanche, and get a month-by-month route to zero. Each paid-off debt hands its payment down to the next.
Your debts
Monthly budget: $805. Avalanche saves $283 over snowball for these debts.
Step through the avalanche plan
Each stop is a debt reaching zero. Watch its payment roll forward, which is why the plan speeds up as it goes.
- 1Store card paid off in month 5 (5 mo)Its $35 minimum now joins the attack on Visa card.
- 2Visa card paid off in month 25 (2 yrs 1 mo)
- 3Personal loan paid off in month 25 (2 yrs 1 mo)
- 4Car loan paid off in month 32 (2 yrs 8 mo)
Ask the trail guide about this plan
Get a plain-English read of the numbers above: what's driving the savings, what to check with your lender, and trade-offs to weigh. Written by AI from your inputs, so double-check anything important.
How the calculator works
Each month, interest is added to every balance (APR ÷ 12), every minimum is paid, and whatever is left of your budget goes to the target debt: highest APR for avalanche, smallest balance for snowball. When a debt hits zero, its minimum stays in the budget, so the payment on the next target grows. The total you pay each month never changes, which is what makes the plan accelerate.
Credit card minimums normally shrink as balances fall; this plan keeps the payment steady instead, which is how you should pay anyway. For a single card, the credit card payoff calculator shows what the shrinking-minimum trap costs.
Questions people ask
How do I pay off $20,000 of debt in one year?
You need a monthly payment that clears the balance in 12 months. At a 22% APR that is about $1,872 a month ($2,808 for $30,000). Add debts above and raise "extra per month" until the debt-free date is 12 months out, then point every extra dollar at the avalanche target.
How can I calculate my debt payoff date?
Simulate month by month: add each debt's interest (balance × APR ÷ 12), pay every minimum, send the leftover budget to the target debt, and roll freed-up minimums forward. The calculator above does exactly this and shows the month each debt hits zero.
What is the debt snowball method?
List debts from smallest balance to largest. Pay minimums on everything and put every spare dollar on the smallest. When it is gone, roll its payment into the next smallest. Popularized by Dave Ramsey, it trades some interest for fast, motivating wins.
What is the debt avalanche method?
The same rolling approach, but you target the highest interest rate first. It always costs the least total interest and is usually a little faster, though the first payoff can take longer.
Snowball vs avalanche: which is better?
Avalanche is cheaper mathematically. Snowball can work better if early wins keep you going; a study published in the Journal of Consumer Research (Gal and McShane, 2016) found that closing out individual accounts predicted people sticking with debt repayment. The calculator shows the exact cost difference for your debts, which is often small.
What does "extra per month" mean here?
Money on top of all your minimum payments. The total budget stays fixed each month, so as debts are paid off their minimums roll into the next target automatically.
Should I include my mortgage?
Usually no. Snowball and avalanche plans are designed for consumer debt. Use the mortgage payoff calculator for your home loan once the high-rate debts are gone.