Financial Tools
Debt Payoff Calculator
Create a solid plan to pay off your debts faster. Compare the snowball method (smallest balance first) with the avalanche method (highest rate first) on your own numbers.
Your Budget
Extra Monthly Payment on Top of Minimums (goes to the target debt, rolls over when a debt is cleared)
Your Debts
Values shown are examples. Enter your real balances, rates and minimums, up to 10 debts.
Snowball vs Avalanche
| Best Strategy | n/a |
| Total Debt | $0 |
| Monthly Budget (minimums + extra) | $0 |
| Snowball, debt-free in | n/a |
| Debt-free By | n/a |
| Total Interest | $0 |
| Payoff Order | n/a |
| Avalanche, debt-free in | n/a |
| Debt-free By | n/a |
| Total Interest | $0 |
| Payoff Order | n/a |
For illustration only, not financial advice. Results are estimates based on the numbers you enter and do not constitute an offer, rate quote or approval.
Questions people ask
What is the difference between snowball and avalanche here?
Both pay every minimum and send the rest of your budget to one target debt. Snowball targets the smallest balance first; avalanche targets the highest interest rate first. In both, a cleared debt frees its minimum for the next target.
How does the page pick the Best Strategy?
It runs both orders on the same debts and monthly budget, then compares total interest. It names the cheaper one and the months it saves, or says both cost the same.
What happens if my budget does not cover the minimum payments?
The page cannot build a plan and shows a note asking you to add an extra amount or check the minimums. The monthly budget is the sum of your minimums plus the extra payment, so every debt needs its minimum covered first.
What if I leave a minimum payment blank?
The page fills in a default minimum based on the balance. Enter the real minimum from your statement so the plan matches what you owe each month.
