Free debt payoff calculator to plan your debt-free journey. Add multiple debts with balances and interest rates. Compare Avalanche (highest interest first) vs Snowball (lowest balance first) strategies. See your debt-free date and total interest saved with extra payments.
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The avalanche method prioritizes paying off debts with the highest interest rate first, minimizing total interest paid over time.
The snowball method pays off the smallest balance first for quick wins and motivation, then rolls that payment into the next smallest debt.
Mathematically, avalanche saves more on interest. But snowball provides psychological wins that keep people motivated. Choose what works for your personality.
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The Debt Payoff Calculator uses industry-standard formulas and algorithms to deliver reliable results. While the tool is designed for accuracy, results should be used as estimates and guidance. For critical decisions, always consult a qualified professional.
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Free debt payoff calculator to plan your debt-free journey. Add multiple debts with balances and interest rates. Compare Avalanche (highest interest first) vs Snowball (lowest balance first) strategies. See your debt-free date and total interest saved with extra payments.
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This extra amount is applied on top of all minimum payments each month.
Total Monthly Budget
$980.00
$780.00 minimums + $200.00 extra
Total Debt
$42,000.00
Number of Debts
3
Weighted Avg. Rate
7.57%
Monthly Budget
$980.00
You Could Be Debt-Free By
April 2030
4 years, 1 month using the Avalanche method
Months to Payoff
49
4 years, 1 month
Total Interest Paid
$5,519.78
Interest Saved
$5,166.44
vs. minimum payments
Time Saved
63 mo
vs. minimum payments
Time to Payoff
9 years, 4 months
Total Interest
$10,686.22
Total Paid
$52,686.22
| Metric | Min. Only | Avalanche | Snowball |
|---|---|---|---|
| Months to Payoff | 112 | 49 | 49 |
| Total Interest | $10,686 | $5,520 | $5,520 |
| Interest Saved | -- | $5,166 | $5,166 |
| Debt-Free Date | July 2035 | April 2030 | April 2030 |
| Month | Credit Card | Car Loan | Student Loan | Total | Remaining |
|---|---|---|---|---|---|
| 1 | $350.00 | $350.00 | $280.00 | $980.00 | $41,284.96 |
| 2 | $350.00 | $350.00 | $280.00 | $980.00 | $40,562.77 |
| 3 | $350.00 | $350.00 | $280.00 | $980.00 | $39,833.33 |
| 4 | $350.00 | $350.00 | $280.00 | $980.00 | $39,096.53 |
| 5 | $350.00 | $350.00 | $280.00 | $980.00 | $38,352.27 |
| 6 | $350.00 | $350.00 | $280.00 | $980.00 | $37,600.43 |
| 7 | $350.00 | $350.00 | $280.00 | $980.00 | $36,840.90 |
| 8 | $350.00 | $350.00 | $280.00 | $980.00 | $36,073.57 |
| 9 | $350.00 | $350.00 | $280.00 | $980.00 | $35,298.31 |
| 10 | $350.00 | $350.00 | $280.00 | $980.00 | $34,515.02 |
| 11 | $350.00 | $350.00 | $280.00 | $980.00 | $33,723.57 |
| 12 | $350.00 | $350.00 | $280.00 | $980.00 | $32,923.84 |
Showing first 12 of 49 months. Copy results for the full schedule.
By paying an extra $200.00/month with the Avalanche method, you save:
$5,166
in interest
63 mo
sooner debt-free