Not sure which debt to pay off first, how long repayment will take, or whether an extra payment is worth it? Enter your balances once and compare complete payoff scenarios. The estimates use monthly interest calculated as APR divided by 12; actual lender methods may differ.
Add each credit card, personal loan, auto loan, student loan, or medical balance with its APR and minimum payment. The debt payoff calculator combines them into one timeline instead of making you estimate each account separately.
Every minimum payment is maintained while extra money goes to one priority debt. When that balance reaches zero, its freed payment rolls into the next debt so your total monthly commitment keeps working for you.
Debt Snowball targets the smallest balance first for earlier visible wins. Debt Avalanche targets the highest APR first and generally produces the lowest modeled interest. Compare both with your own numbers instead of relying on a generic rule.
Change the extra payment to see how even a modest amount can move your debt-free date forward and reduce interest. The results show the time and money saved compared with making minimum payments only.
High-APR debt can feel stuck because much of an early payment may go toward interest. The calculator separates principal from interest and warns when a minimum payment is too small to reduce the balance.
Review the estimated payment for every debt, principal paid, interest charged, and remaining balance by month. You can compare strategies, share the scenario, or print the plan for regular check-ins.
Read our evidence-based guide to Debt Snowball vs Debt Avalanche for a transparent worked example, the potential strengths of each method, and important limitations.
Use the focused Credit Card Payoff Calculator to estimate one card’s payoff date, interest, and extra-payment savings without strategy controls.
Clear answers about debt payoff order, extra payments, minimum payments, interest, and how the Snowball and Avalanche methods work.
Debt Snowball sends extra money to the smallest balance first, which can create earlier visible wins. Debt Avalanche sends extra money to the debt with the highest APR first, which usually reduces total interest. Both methods keep making the minimum payment on every other debt and roll freed payments into the next target.
If your goal is to minimize interest mathematically, the Debt Avalanche method usually starts with the highest-APR debt. If early account closures help you stay motivated, Debt Snowball starts with the smallest balance. Use Compare both to see the actual cost and payoff-time difference for your debts.
Debt Avalanche usually saves the most money because it prioritizes the most expensive interest rate. The difference can be small or substantial depending on your balances, APRs, minimum payments, and extra monthly payment, so the calculator compares both strategies using the same monthly budget.
Enter every current balance, APR, minimum payment, your first payment month, and any extra monthly payment. The calculator estimates your debt-free date, months to payoff, total interest, total paid, and a month-by-month debt repayment schedule.
Extra payments reduce principal sooner, which can also reduce future interest. The exact time and interest saved depend on your debt mix and the size of the extra payment. Change the amount in your plan to compare the updated payoff date with the minimum-payments-only baseline.
A high APR can cause a large part of your payment to cover interest instead of principal. New purchases, fees, and a shrinking minimum-payment formula can slow progress further. This calculator warns when a stated minimum payment does not cover enough interest to reduce the balance under its assumptions.
This debt payoff calculator uses a simplified monthly rate: APR divided by 12, applied to the current balance before that month's payment. Credit card issuers may instead use a daily periodic rate, average daily balance, different billing-cycle lengths, fees, grace periods, and allocation rules, so actual statements may differ.
Yes. You can add up to 20 consumer debts with different balances, APRs, and minimum payments. This can include credit cards, personal loans, auto loans, student loans, medical debt, and similar fixed-balance accounts. Avoid combining balances with different APRs into one entry if you want a more useful comparison.
The calculator redirects the paid-off debt's minimum payment, plus your extra monthly amount, to the next priority debt. This payment rollover is what accelerates both the Debt Snowball and Debt Avalanche methods while keeping the overall monthly commitment consistent.
Core payoff calculations run locally in your browser and no account is required. If you choose Get AI insights, an anonymized summary containing debt types, balances, APRs, payments, and calculated results is sent through our server to Google Gemini with Google Search grounding. Debt names and direct personal identifiers are excluded. Google states that grounded request data is retained for 30 days. Sharing a result uses a clean calculator link rather than putting debt inputs in the URL.
This planner is designed primarily for consumer debts. Mortgages often involve escrow, taxes, insurance, prepayment terms, and different amortization assumptions, so a dedicated mortgage payoff calculator is usually more appropriate.
No. Results are educational estimates based on the information you enter. They do not account for every lender rule, variable rate, fee, new purchase, tax consequence, or personal financial priority and do not constitute financial, legal, credit, or tax advice.
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