Free Tools · Loans & Housing

Debt Payoff Calculator

List your debts and what you can add each month. See your debt-free date with the snowball and avalanche methods, the interest each one costs and how much you save over minimum payments.

Your Numbers

Type It All

Describe your situation in one sentence. For example: “I can put an extra 300 dollars a month toward my debts”

I couldn't match that to the fields below. Try naming the amounts, like the example, or fill them in directly.

Extra Monthly Payment

$

On top of all your minimums, every month. Freed-up minimums roll into the next debt.

Your Debts

Up to 10. Type each balance, APR and minimum payment; Say It All and the mic fill the extra payment.

Debt 1: Credit Card

Name

Balance

$

APR

%

Min / Mo

$

Debt 2: Car Loan

Name

Balance

$

APR

%

Min / Mo

$

Debt 3: Store Card

Name

Balance

$

APR

%

Min / Mo

$

Debt 4: Personal Loan

Name

Balance

$

APR

%

Min / Mo

$

Your Results

Debt-Free By

in 2 years 11 months

With the avalanche method: $28,700 paid off with $1,005 a month, $5,999 in interest, $4,665 less than minimums only.

Snowball

in 3 years

$6,517 interest

Avalanche

in 2 years 11 months

$5,999 interest

Avalanche Saves

$518

In interest vs snowball

Compare the Plans

Snowball (smallest balance first)Debt-free in 3 years · 3 years: $6,517
Avalanche (highest APR first)Debt-free in 2 years 11 months · 2 years 11 months: $5,999
Minimums only, no extraDebt-free in 4 years 10 months · 4 years 10 months: $10,664
Interest saved (avalanche vs minimums): $4,665

Total Balance Over Time

Avalanche Payoff Order

1. Store Card$1,200 at 28.9%: Month 6
2. Credit Card$9,500 at 24.9%: Month 27
3. Personal Loan$4,000 at 11%: Month 29
4. Car Loan$14,000 at 7.5%: Month 35

Snowball Payoff Order

1. Store Card$1,200 at 28.9%: Month 6
2. Personal Loan$4,000 at 11%: Month 16
3. Credit Card$9,500 at 24.9%: Month 30
4. Car Loan$14,000 at 7.5%: Month 36

Snowball pays the smallest balance first for quick wins; avalanche pays the highest APR first and usually costs less in interest. Both keep the same monthly budget, so each freed-up minimum rolls into the next debt. Assumes no new charges and fixed APRs and minimums.

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Your Debt Payoff Plan

A one-page PDF of your debts, both payoff dates, the interest each method costs and your payoff order.

The Debt Payoff Playbook

Snowball or avalanche: how each method works, what it costs, and how to set a debt-free date you can keep.

Debt Payoff Planner

An Excel workbook with your debts and a month-by-month snowball schedule built from formulas.

Written by Zi · Reviewed by the Zentavos TeamLast Updated October 23, 2026How We Research

In Short

Snowball pays the smallest balance first; avalanche pays the highest APR first. On $28,700 of debt with $805 of minimums plus $200 extra a month, avalanche is debt-free in 35 months with $5,999 of interest, and snowball in 36 months with $6,517. Paying only the minimums takes 58 months and $10,664 of interest.

How to Use the Debt Payoff Calculator

List each debt with its balance, APR and minimum monthly payment (up to 10). Add or remove rows as needed.
Enter the extra amount you can pay each month on top of all the minimums.
Compare the snowball and avalanche debt-free dates, the total interest and the payoff order.
Or tap Say It All for the extra payment: “I can put an extra 300 dollars a month toward my debts.” Type the debts themselves in the list.

The Formula

Both methods pay the same total each month: all the minimums plus your extra. When a debt is paid off, its minimum rolls into the next debt, so the monthly budget never shrinks. The only difference is the order.

Monthly interest on each debt = balance × APR ÷ 12
Monthly budget = all minimums + extra (stays the same until you're debt-free)
Every debt gets its minimum; everything left goes to the first debt in the order
Snowball order = smallest balance first
Avalanche order = highest APR first

Worked Examples

Scenario	Inputs	Result
Four debts, $200 extra	$1,200 store card 28.9% · $4,000 personal loan 11% · $9,500 credit card 24.9% · $14,000 car loan 7.5%	Avalanche: 35 months, $5,999.27 interest · Snowball: 36 months, $6,516.84 · Minimums only: 58 months, $10,664.14
Same debts, $500 extra	As above, $500 extra a month	Both: 26 months · Avalanche $3,949.22 interest · Snowball $4,413.44
Two cards, $150 extra	$3,000 at 15% ($90 min) · $7,000 at 24% ($175 min)	Avalanche: 32 months, $3,059.35 · Snowball: 33 months, $3,486.80 · Minimums only: 82 months, $8,128.40
One credit card, $100 extra	$5,000 at 22.19%, $150 minimum + $100	26 months, $1,300.88 interest vs 53 months and $2,844.01 on the minimum

Illustrative examples, not projections. Figures use the tax year shown and the assumptions above.

Snowball or Avalanche: Which Is Better?

The avalanche method, highest interest rate first, usually costs the least, because the most expensive balance shrinks first. The snowball method, smallest balance first, clears whole debts sooner, which many people find motivating, but it can cost more over time ^[1]^[2].

When your smallest debt also has the highest rate, the two orders are the same. The calculator shows both, so you can see the trade-off in dollars and months for your own debts.

Why Does Rolling Over Payments Matter?

When a debt is paid off, the payment you were making on it moves to the next debt on the list, so the amount you put toward debt each month stays the same ^[1]. That roll-over is what makes either method so much faster than paying minimums: in the four-debt example it cuts 23 months and about $4,700 of interest.

How Much Interest Do Credit Cards Charge?

The Federal Reserve reports that the average credit card rate at commercial banks was 21.19% in August 2026, and 22.36% on accounts that were charged interest ^[3]. At those rates a card balance usually belongs near the front of an avalanche plan.

Frequently Asked Questions

How long will it take to pay off $5,000 in credit card debt?

At 22.19% APR with a $150 minimum, about 53 months and $2,844 of interest. Adding $100 a month cuts it to 26 months and $1,301 of interest.

Is the snowball or avalanche method faster?

Avalanche usually costs less interest and is often a month or two faster; snowball pays off individual debts sooner. With the four example debts and $200 extra, avalanche finishes in 35 months and snowball in 36 ^[1]^[2].

How much does an extra $200 a month save on debt?

On $28,700 across four debts with $805 of minimums, $200 extra plus rolling payments over saves about $4,665 of interest (avalanche) and 23 months compared with paying only the minimums.

Should the minimum payments keep going on every debt?

In both methods every debt keeps getting at least its minimum each month; only the extra money and the freed-up minimums move between debts. Missing a minimum can bring late fees and hurt your credit.

Can I download a debt payoff spreadsheet?

Yes. The free Debt Payoff Planner is an Excel workbook with a debts table and a month-by-month snowball schedule built from formulas. List your debts in the order you want to pay them.

Sources

Resolve to take control of your debt in the new year — Consumer Financial Protection Bureau
How to dig out of debt? Grab more than one shovel — Federal Deposit Insurance Corporation
Consumer Credit – G.19 (terms of credit at commercial banks) — Board of Governors of the Federal Reserve System

Official sources only: the IRS, SSA, BLS and other government agencies. Read how Zentavos researches.