Credit & Debt
Debt Payoff Calculator
Your numbers
On top of all your minimum payments. When a debt is paid off, its minimum rolls into the next one.
Debt-free in
2 years, 2 months
Around Jan 2029, paying $645 a month toward $14,500 of debt.
Avalanche
Highest APR first
2 years, 2 months · $1,848 interest
- 1. Credit card Amonth 15
- 2. Credit card Bmonth 18
- 3. Car loanmonth 26
Snowball
Smallest balance first
2 years, 2 months · $1,931 interest
- 1. Credit card Bmonth 7
- 2. Credit card Amonth 19
- 3. Car loanmonth 26
- Minimum payments only
- 4 years, 8 months · $4,303 interest
- Your plan saves
- $2,455 and 2 years, 6 months
Results are estimates for planning only and assume the numbers you enter stay the same. They are not an offer of credit or financial advice. Confirm actual terms with the lender, bank or provider.
How it works
Behind the numbers
Each month, interest is added to every debt, and you pay at least the minimum on each one. Your extra money goes to one target debt: the highest APR under the avalanche method, or the smallest balance under the snowball method. When a debt is paid off, its minimum payment rolls into the next target, so your total monthly payment stays the same.
We also show how long it would take paying only the minimums, without rolling freed-up payments forward, so you can see what your extra payment is worth.
Tips
- The avalanche method usually saves the most interest. The snowball method gives quicker wins.
- The best plan is the one you'll stick with, so keep the monthly amount realistic.
- If minimums are hard to cover, nonprofit credit counseling may be able to lower your rates.
Quick answers
Common questions
Which is better, snowball or avalanche?
Mathematically, the avalanche method usually costs less because it attacks the most expensive debt first. The snowball method pays off small balances quickly, which helps some people stay motivated. The difference is often modest, so choose the one you'll follow.
What should I enter as the minimum payment?
Use the current minimum from each statement or loan agreement. Card minimums usually fall as balances drop; this calculator keeps them fixed, which is closer to what a steady payoff plan looks like.
Can I include loans as well as credit cards?
Yes. Add car loans, personal loans or student loans with their balance, rate and monthly payment. Mortgages are usually left out because of their size and lower rate.