CalculatorDebt
Debt Payoff Calculator
Compare the Debt Avalanche vs Snowball methods to find the fastest, most cost-effective way to become debt-free.
Payoff Strategy
Choose how to prioritize your debt payments
Your Debts
Add all your debts to calculate payoff
$
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$
$
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$
$
%
$
Extra Monthly Payment
Additional amount to put toward debt each month
$
Debt-Free In
2 years 9 mo
33 months total
Monthly Payment
$790
$590 min + $200 extra
Time Saved
18 months
vs minimum payments only
Interest Saved
$2,609.66
by paying extra
Total Debt
$20,000
Total Interest
$3,087.12
Total to Pay
$23,087.12
Payoff Order (Avalanche)
1Credit Card 2
Month 12
1y 0m
2Credit Card 1
Month 26
2y 2m
3Car Loan
Month 33
2y 9m
Payoff Timeline
| Month | Remaining | Interest Paid | Milestone |
|---|---|---|---|
| 12 | $12,598.18 | $2,012.4 | Credit Card 2 paid off |
| 24 | $5,135.26 | $2,949.48 | |
| 26 | $3,715.85 | $3,007.05 | Credit Card 1 paid off |
| 33 | $0 | $3,087.12 | Car Loan paid off |
Avalanche vs Snowball
Debt Avalanche: Pay off highest interest rate debt first. Mathematically optimal - saves the most money on interest.
Debt Snowball: Pay off smallest balance first. Provides quick wins and psychological motivation to keep going.
Both methods work - choose the one that fits your personality and financial goals.
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