The Debt Payoff Calculator helps you visualise the fastest and cheapest route to becoming debt-free by comparing the Snowball and Avalanche payoff methods. Enter your debts once and see exactly how long it takes — and how much interest you save — with any extra monthly payment.
Use it free in your browser — no account or download required.
Key Features
Compare snowball vs avalanche debt payoff strategies
Visual debt-free timeline with total interest saved
Save up to 2 scenarios (Pro) or 5 scenarios (Pro+)
Side-by-side scenario comparison with charts (Pro+)
Export results to PDF (Pro & Pro+)
Export full payment schedule to Excel (Pro+)
How to Use Debt Payoff Calculator
Step 1: Add each debt Click 'Add Debt' and enter the name (e.g., 'Visa Card'), current balance, annual interest rate (APR), and minimum monthly payment. Add all your debts: credit cards, personal loans, student loans, car loans.
Step 2: Set your total monthly payment budget Enter the total amount you can put toward debt each month. Even $50–$100 above the minimum total makes a significant difference to your payoff timeline.
Step 3: Choose Snowball or Avalanche Snowball: pay off the smallest balance first for quick psychological wins. Avalanche: pay off the highest interest rate first to minimise total interest paid. Both strategies work — pick the one that keeps you motivated.
The Avalanche method saves the most money mathematically; the Snowball method keeps more people on track psychologically. Both beat paying only minimums.
Any windfall (tax refund, bonus, gift) should go directly to your highest-priority debt.
Don't add new debt while paying off existing debt — even 'small' new balances restart the clock.
Frequently Asked Questions
What's the difference between Snowball and Avalanche?
Snowball targets the smallest balance first — you pay it off quickly and feel progress. Avalanche targets the highest interest rate first — you pay less total interest over time. Studies show Snowball keeps more people committed because of the early wins.
Should I include my mortgage in the debt payoff calculator?
You can, but use the dedicated Mortgage Calculator for detailed amortisation and PMI calculations. The Debt Payoff Calculator is best for consumer debt: credit cards, personal loans, and car loans.
Available Plans
Free — Core features available instantly, no account needed
Pro — Unlock AI features, unlimited saves, and PDF/DOCX export
Pro+ — Everything in Pro, plus no ads and advanced AI features