Debt Payoff Calculator

Calculate debt payoff strategies for multiple debts. Compare avalanche vs. snowball methods and see your debt-free timeline.

Your Debts

Debt 1

Debt 2

Debt 3

Total amount you can pay toward all debts each month

About Debt Payoff Strategies

Avalanche Method

Pay off debts with the highest interest rates first. This method saves the most money on interest over time.

  • Pays highest interest debt first
  • Saves the most money on interest
  • Mathematically optimal approach

Snowball Method

Pay off debts with the smallest balances first. This method provides psychological wins and motivation.

  • Pays smallest balance debt first
  • Provides quick wins and motivation
  • May cost more in interest

How to Use This Calculator

  1. Enter each debt's current balance, interest rate, and minimum payment
  2. Add or remove debts as needed
  3. Enter your total monthly payment amount
  4. Click "Calculate Payoff Strategy" to see both methods
  5. Compare the results to choose your preferred strategy

Tips for Debt Payoff

  • Always pay at least the minimum payment on all debts
  • Consider consolidating high-interest debts if possible
  • Look for ways to increase your monthly payment amount
  • Track your progress and celebrate small wins
  • Consider seeking professional financial advice for large debt amounts