Debt Payoff Calculator

List every debt with its balance and rate, then say what you can put toward them each month. Both methods spend that same budget: the avalanche sends whatever is left after the minimums to the highest rate, the snowball to the smallest balance. This shows the payoff date and the total interest for each, so you can see exactly what choosing the motivating order costs you.

  • Accurate
  • Real-time
  • Easy to use
  • 100% free

Debt-free in

2 years 10 months

Months sooner with avalanche

1 month

Details

Updates as you type

One debt per entry, separated by a semicolon or a comma: name, balance, rate, and optionally the required minimum payment. Anything unlabelled is read as balance, then rate, then minimum.

$
6501.7k2.8k3.9k5k+

Everything you put toward these debts each month, minimum payments included.

Summary

2 to 3 years

Debt-free in

2 years 10 months

Where this result sits on the scale
0 months120 months

Total paid with snowball

$32,563

The debt itselfInterest with avalancheExtra interest with snowball
  • The debt itself$28,90089%
  • Interest with avalanche$3,18410%
  • Extra interest with snowball$4791%
Debt-free with snowball
2 years 11 months
Months sooner with avalanche
1 month
Interest saved with avalanche
$478.79
Saved as a share of snowball interest
13.1%
Total interest (avalanche)
$3,183.77
Total interest (snowball)
$3,662.56
Total debt today
$28,900.00
Total paid (avalanche)
$32,083.77
First debt gone (snowball)
4 months
First debt gone (avalanche)
1 year 2 months
Medical bill cleared
Month 34 with avalanche, month 4 with snowball
Credit card cleared
Month 14 with avalanche, month 16 with snowball
Car loan cleared
Month 23 with avalanche, month 24 with snowball
Student loan cleared
Month 34 with avalanche, month 35 with snowball
  • Both methods spend the same amount every month. Only the order changes, so the difference between them is interest, not effort.
  • Where you did not state a minimum payment, this uses the standard card rule: 1% of the balance plus that month’s interest, with a $25 floor. Give a car or student loan its real fixed payment as "min 265".
  • Snowball clears its first account sooner, and that visible win is why many people stick with it. Compare the saving above against how much you value crossing a debt off the list.
  • This assumes fixed rates, no new borrowing on these accounts, and no missed payments. A 0% promotional rate that expires needs re-entering at its new rate.
How this is calculated
Debts entered
4
Total owed
$28,900.00
Interest in the first month
$238.17
Minimum payments due
$606.12
Monthly budget
$950.00
Left for the target debt
$343.89
Avalanche order (rate first)
Credit card → Car loan → Student loan → Medical bill
Snowball order (balance first)
Medical bill → Credit card → Car loan → Student loan
Avalanche: months to clear
34
Avalanche: total interest
$3,183.77
Snowball: months to clear
35
Snowball: total interest
$3,662.56
Interest avalanche saves
$478.79
Balance under each strategyBalance with avalancheBalance with snowball
07.6k15.2k22.8k30.3k0714212835

Months

Compare scenarios

See how one change moves the result

  • CurrentYour inputs as they stand2 years 10 monthsCurrent
  • Total monthly budget for debt$ 1,1902 years 3 months

For informational purposes only. This is not financial advice — confirm major decisions with a licensed advisor.

Frequently asked questions

What is the difference between the debt snowball and the debt avalanche?

Both pay every minimum every month and throw the rest of the budget at one target debt. The avalanche targets the highest interest rate, which removes the most expensive dollar of debt first and therefore costs the least in total. The snowball targets the smallest balance, which clears whole accounts fastest. When the target is paid off, its minimum is freed and the surplus rolls onto the next debt in the same order.

If the avalanche is cheaper, why would anyone use the snowball?

Because the gap is usually smaller than people expect — often a few hundred dollars and a month or two across a whole plan — while the snowball produces a visible win far sooner. Research on repayment behaviour has repeatedly found that people who close small accounts early are more likely to stay with the plan at all. A method you abandon in month nine costs more than either order on paper, so compare the saving shown here against how much the early win is worth to you.

How are minimum payments worked out here?

If you type a minimum after the rate, that figure is used exactly — do that for car, student and personal loans, which have a fixed contractual payment. Otherwise the standard US credit card rule applies: 1% of the balance plus that month’s interest, with a $25 floor, capped at what is actually owed. Because minimums fall as balances fall, both plans keep spending your full budget every month; only the target changes.

Should I include a 0% balance or an interest-free medical bill?

Yes, and enter it at 0%. It changes the answer in an interesting way: the avalanche leaves it until last, because no interest is accruing, while the snowball may attack it first if the balance is small. That is often where most of the difference between the two methods comes from. If the 0% rate expires on a date, re-run this with the rate that follows it.

What does this not account for?

Fixed rates and no new spending on the accounts. It also ignores fees, late charges, and the daily compounding most card issuers actually use, so a real statement will differ by a few dollars a month. It does not consider balance transfers, consolidation loans, or whether an employer retirement match should come before any of this — it usually should.

You might also like