Debt Payoff Calculator
Compare snowball and avalanche strategies to become debt-free faster.
Debt-free in
3 yr 5 mo
Interest paid
$4,400
Time saved by extra
1 yr 9 mo
Interest saved
$2,200
Snowball vs. avalanche
With multiple debts, two orderings dominate: the avalanche (highest APR first) minimizes total interest; the snowball (smallest balance first) produces quick wins that keep people going. Both use the same engine — every freed-up minimum rolls into the next debt.
The extra-payment effect
Extra payments hit principal directly, so their effect compounds: $100 extra on a $12,000 balance at 18% doesn't just shorten the loan by a few months — it also shrinks the base on which all future interest accrues. Run the extra field at 0 and compare.
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