WeGotCalcs

Debt Payoff Calculator

Pay off multiple debts faster using the snowball or avalanche method. See your payoff date and total interest.

Focuses on the highest APR first to save the most interest.

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About this calculator

The snowball method orders your debts by balance (smallest first) so you knock out individual debts quickly for motivation. The avalanche method orders by APR (highest first) so you pay the least total interest. Both methods pay the minimum on every debt each month and apply any extra payment plus freed-up minimums from already-paid-off debts to the current focus debt. Interest compounds monthly on each balance.

Field explanations

Payoff strategy
Snowball (smallest balance first) vs. avalanche (highest APR first).
Extra monthly payment
Money on top of all your minimums, applied to the focus debt each month.
Debt name
A label to help you identify the debt in the payoff order.
Balance
Current amount owed on this debt.
APR
Annual interest rate on the debt.
Minimum payment
The smallest amount you'll pay every month while this debt is active.