Debt Payoff Calculator
See how fast you can become debt-free. Compare snowball vs avalanche strategies and find out how extra payments save you money.
Calculator Inputs
Time to Payoff
6 yrs 3 mo
Total Balance
$42,000
Total Interest
$6,732
Total Paid
$48,732
Payoff Order (Avalanche)
- Credit Card
- Car Loan
- Student Loan
Total Balance Over Time
Snowball vs Avalanche: Which Strategy Is Best?
The avalanche method targets debts with the highest interest rate first, minimizing total interest paid. The snowball method targets the smallest balance first, giving you quick wins that build momentum. Mathematically, avalanche saves more money, but snowball can be more motivating for many people.
Extra Payments Make a Huge Difference
Even an extra $50-200 per month applied to your debt can shave years off your payoff timeline and save thousands in interest. The key is consistency: once one debt is paid off, roll that payment into the next debt for accelerating results.
Take the Next Step
Now that you have the numbers, here are some ways to act on them.
Debt Consolidation
Simplify your payments and potentially lower your interest rate.
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