Debt Payoff Calculator
Compare the debt snowball and avalanche payoff plans side by side and pick the one that suits you.
- Runs on your device
- No watermark
- Free, no signup needed
- Available offline
An estimate for planning, not financial advice. Interest is worked out monthly, and lenders’ own figures may differ slightly.
How to use it
- Add each debt with its balance, APR and minimum payment.
- Enter what extra you can pay each month.
- Compare when each method makes you debt-free and what it costs.
Questions
What is the avalanche method?
Pay the minimum on everything and put every extra amount on the debt with the highest interest rate. It costs the least interest overall.
What is the snowball method?
Pay the minimum on everything and put every extra amount on the smallest balance first. You clear whole debts sooner, which keeps many people motivated, but it can cost more interest.
What happens when a debt is paid off?
Its minimum payment rolls on to the next debt in the plan, so the total you pay each month stays the same until everything is cleared.
Why might my lender’s numbers differ?
Most cards charge interest daily and minimum payments often shrink as the balance falls. This calculator uses monthly interest (APR ÷ 12) and keeps your total monthly payment fixed.
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