Debt Payoff Calculator

Calculate your fastest path to debt freedom with snowball and avalanche methods

Your Debts

Method Comparison

Payoff Schedule

Debt Payoff Strategies

Debt Snowball Method
Pay off debts from smallest to largest balance. This builds momentum with quick wins and keeps you motivated.
Debt Avalanche Method
Pay off debts from highest to lowest interest rate. This saves the most money on interest over time.
Which Method is Better?
Snowball works better for motivation, Avalanche saves more money. Choose based on what will keep you committed.

Frequently Asked Questions

What is the debt snowball method?
You pay minimums on all debts except the smallest, which gets all extra payments. Once paid off, you roll that payment to the next smallest debt.
What is the debt avalanche method?
You pay minimums on all debts except the highest interest rate, which gets all extra payments. This mathematically saves the most interest.
Should I pay off high interest or small balances first?
High interest saves money, small balances provide motivation. Choose based on whether you need mathematical efficiency or psychological wins.

Saved Plans

Sample Debt Plan
$5,000 credit card, 18.99%

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