Debt Payoff Calculator
Compare snowball vs avalanche strategies. See your debt-free date and total interest saved.
Your Debts
Extra Monthly Payment
Amount above your minimums ($680/mo) to throw at debt each month. Even $50 extra can save thousands.
/mo
Total Debt
$44,500
Min Monthly
$680
combined minimums
Total Payment
$880
+$200 extra
Debts
3
active accounts
Snowball Method
Saves moreMonths to debt-free6 yr 9 mo
Total interest paid$8,162
Debt-free dateJan 2033
Saved vs minimum only$11,481
Avalanche Method
Months to debt-free6 yr 9 mo
Total interest paid$8,162
Debt-free dateJan 2033
Saved vs minimum only$11,481
Snowball
Pay minimums on all debts, then put extra toward the smallest balance. Quick wins keep you motivated.
Avalanche
Pay minimums on all debts, then put extra toward the highest interest rate. Saves the most money mathematically.
Month-by-Month Schedule (Snowball)
| Month | Total Payment | Interest | Principal | Remaining |
|---|---|---|---|---|
| 1 | $880.00 | $273.05 | $606.95 | $43,893.05 |
| 2 | $880.00 | $267.12 | $612.88 | $43,280.17 |
| 3 | $880.00 | $261.11 | $618.89 | $42,661.27 |
| 4 | $880.00 | $255.01 | $624.99 | $42,036.28 |
| 5 | $880.00 | $248.82 | $631.18 | $41,405.11 |
| 6 | $880.00 | $242.55 | $637.45 | $40,767.66 |
Frequently Asked Questions
- What is the debt snowball method?
- Pay minimums on all debts, then put extra money toward the smallest balance first. Once paid off, roll that payment to the next smallest. Gives quick psychological wins.
- What is the debt avalanche method?
- Pay minimums on all debts, then put extra money toward the highest interest rate first. Mathematically saves the most interest over time.
- Which method is better?
- Avalanche saves more money in interest. Snowball keeps you motivated with quick wins. The best method is the one you'll stick to.
- Is my data saved anywhere?
- No. All calculations happen in your browser. Nothing is stored or sent to any server.
- What is the extra monthly payment field?
- Any amount above your minimum payments that you can put toward debt each month. Even $50 extra can save thousands in interest.