Debt Payoff Calculator
Enter up to 3 debts and see exactly when you'll be debt-free using the Debt Avalanche (highest-rate first) or Debt Snowball (lowest-balance first) strategy. See total interest saved and payoff order.
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Payoff Method
Debts (up to 3)
NameBalance ($)Rate (%)Min Payment ($)
Frequently Asked Questions
What is the debt avalanche method?
The avalanche method targets the highest-interest debt first while making minimum payments on others. This minimizes total interest paid and is mathematically optimal.
What is the debt snowball method?
The snowball method pays the smallest balance first for quick psychological wins, then rolls those payments to the next debt. Research shows this approach helps people stay motivated.
How much does an extra $100/month help?
Significantly. For example, $5,000 in credit card debt at 20% APR paid at minimum (~$75/mo) takes 10+ years. Adding $100/month cuts it to about 2.5 years and saves $2,000+ in interest.