Debt Payoff Calculator
List your debts, set your extra monthly payment, and compare both payoff strategies — time to debt-free and total interest for each.
| Debt | Balance ($) | APR (%) | Min payment ($) |
|---|---|---|---|
—Snowball: time to debt-free
—Avalanche: time to debt-free
—Snowball: total interest
—Avalanche: total interest
Model: interest accrues monthly (APR ÷ 12); minimums are paid on every debt; the extra payment plus any freed-up minimums attack one target debt at a time. Educational tool — not individualized advice.
Snowball or avalanche?
Snowball clears the smallest balance first for momentum; avalanche clears the highest rate first to minimize interest. This calculator runs both on your real numbers so you can see what the choice actually costs — it's often less than people expect.
Full guide: Debt snowball vs. avalanche, with the behavioral evidence.