Free tool
Debt Payoff Calculator: Plan Your Debt-Free Future
Enter each debt and how much extra you can pay each month. The calculator compares the snowball method (smallest balance first) with the avalanche method (highest rate first) so you can see how long each takes and how much interest you'd pay. Nothing you enter is saved.
Last reviewed
Your debts
Debt snowball
- Debt-free in
- 22 mo
- Total interest
- $1,465
- Payoff order
- Store card → Credit card → Personal loan
Debt avalanche
- Debt-free in
- 22 mo
- Total interest
- $1,465
- Payoff order
- Store card → Credit card → Personal loan
The avalanche method saves about $0 in interest compared with the snowball here.
How to use your results
If the interest difference is small, choose the method that keeps you motivated. If it's large, the avalanche may be worth the slower first win. Read Debt Snowball vs. Avalanche for a full comparison and The Ultimate Guide to Debt Management for the complete plan.
Assumptions
Interest is calculated monthly at each debt's APR, rates don't change, no new charges are added, and fees aren't included. Results are estimates for education only.