Calculator
Debt payoff calculator
Two proven debt payoff methods: avalanche (highest APR first, saves the most interest) and snowball (smallest balance first, fastest wins). Enter your debts to compare.
Updated July 2026
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Avalanche method
34 months
Total interest: $3,188
Snowball method
34 months
Total interest: $3,402
How it works
Payoff time depends on balance, APR, and monthly payment. Extra payments accelerate principal reduction, which cuts total interest.
- Enter each debt: balance, APR, and minimum monthly payment.
- Enter the extra amount you can put toward debt each month above the minimums.
- Avalanche sends the extra to the highest-APR debt; snowball sends it to the smallest balance.
- The calculator shows months to debt-free and total interest paid for both methods.
Worked examples
- 3 debts totaling $12,000: avalanche typically saves $500–$2,000 in interest over snowball.
- Same debts with $200 extra/month clear ~14 months faster than with $0 extra.
- Doubling extra payments more than halves total interest paid in most scenarios.
Frequently asked questions
Avalanche or snowball — which is better?
Avalanche saves more interest; snowball provides faster emotional wins. Research suggests snowball users are more likely to stick with debt payoff long-term. Pick the one you'll finish.
Should I consolidate?
Consolidation lowers total interest if the new rate is meaningfully lower and you don't rebuild balances on the old cards. Otherwise it just resets the debt cycle.
What if I can only pay minimums?
Minimums prevent late fees but often stretch payoff to a decade or more on credit cards. Look hard for even $50/month extra — the compounding is dramatic.
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Educational information only. Not personalised financial advice. Consult a qualified professional for decisions specific to your situation.