Debt Payoff Calculator

Pick a payoff strategy, add an extra payment, and watch the debt-free date move closer.

Your debts

Extra paymentper month

Strategy

Avalanche targets the highest rate; snowball targets the smallest balance. Both pay minimums on every other debt first.

Debt-free in

4 yrs 11 mos

59 total payments

Total debt$48,500

Average interest rate8.1%

Total interest$8,488

Total paid$56,988

Monthly budget$980

Extra payment savings

Interest saved$6,538

Time saved1 yr 11 mos

Strategy Comparison

avalanche4 yrs 11 mos · $8,488 interest

snowball4 yrs 11 mos · $8,488 interest

Payoff Order (avalanche)

1Credit Card

2Car Loan

3Student Loan

What If You Paid More?

Extra/month	Debt-free in	Total interest	Interest saved	Time saved
Minimums only	6 yrs 10 mos	$15,026	—	—
+$50	6 yrs 2 mos	$12,122	$2,905	8 mos
+$100	5 yrs 7 mos	$10,408	$4,619	1 yr 3 mos
+$200	4 yrs 11 mos	$8,488	$6,538	1 yr 11 mos
+$300	4 yrs 4 mos	$7,309	$7,718	2 yrs 6 mos
+$500	3 yrs 7 mos	$5,818	$9,209	3 yrs 3 mos

How payoff strategies work

Pay the minimum on every debt, then send all extra money to one target. When that debt is gone, its payment rolls into the next one, accelerating the payoff.

Avalanche targets the highest interest rate and saves the most money. Snowball targets the smallest balance and delivers quick wins that keep many people motivated. Both beat minimum payments by a wide margin.

Getting out faster

Find extra money in the budget, direct windfalls to the highest-rate debt, consider a 0% balance transfer, and stop adding new debt. A small emergency fund prevents a setback from turning into a new card balance.

Ready to put these numbers to work?

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Estimates for planning only. Actual results depend on your market, lender, and personal circumstances. Confirm important decisions with a qualified professional.