Debt Payoff Calculator

Your Debts

Base Monthly Payment ($)

Extra Monthly Payment ($)

Payoff Details

Your Action Plan (This Month)

Calculating...

Best Method

Calculating...

Mathematically optimal

Extra Payment Savings

$0

0 Months Faster

Avalanche Method

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$0 interest

Snowball Method

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$0 interest

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Debt Payoff Progress

Understanding the Methods

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Avalanche Method

Pay minimums on all debts, then put extra toward the highest interest rate. Saves the most money mathematically.

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Snowball Method

Pay minimums on all debts, then put extra toward the smallest balance. Builds momentum with quick wins.

How It's Calculated

Monthly Interest: Balance × (APR ÷ 12)

Payment Allocation: After accruing interest, your payment is applied to balances based on method priority

Total Interest: Sum of all interest charges across all debts until fully paid

Simulator runs month-by-month until all debts reach $0 balance.

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