Debt Payoff Calculator
Compare snowball and avalanche strategies to become debt-free faster.
Quick answer
Two proven strategies: the avalanche method pays the highest-interest debt first (least total interest), while the snowball method pays the smallest balance first (fastest visible wins). Both work by paying extra on one debt while making minimum payments on the rest.
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.
Frequently asked questions
- How does the Debt Payoff Calculator work?
- Two proven strategies: the avalanche method pays the highest-interest debt first (least total interest), while the snowball method pays the smallest balance first (fastest visible wins). Both work by paying extra on one debt while making minimum payments on the rest.
- Is the Debt Payoff Calculator free to use?
- Yes. The Debt Payoff Calculator is completely free, runs entirely in your browser, and requires no account or sign-up. Your inputs never leave your device.
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