Debt Payoff Calculator

The snowball method targets your smallest balance first regardless of interest rate, which isn't mathematically optimal but builds momentum through quick, visible wins, a real psychological advantage for a lot of people trying to stay motivated through a long payoff process. The avalanche method instead targets the highest interest rate first, which minimizes total interest paid mathematically but can feel slower early on if that highest-rate debt also happens to be your largest balance.

Either strategy works meaningfully better than only making minimum payments, since minimum payments on a high-interest balance can leave you paying mostly interest for years with barely any dent in the actual principal, a trap this calculator makes visible rather than abstract.

Enter each debt's balance, minimum payment, and interest rate. The calculator projects your full payoff timeline and total interest cost, and shows exactly how much faster an extra monthly payment amount gets you to zero.

Seeing the snowball and avalanche trajectories calculated side by side makes the tradeoff concrete, faster emotional progress versus less total interest paid, rather than an abstract debate about which method is "better" in general. Your balances and payoff strategy stay entirely private.