Debt Calculator
Debt Payoff Calculator
Compare the avalanche and snowball debt payoff methods. Enter your debts and see how quickly you can become debt-free.
Your Debts
NameBalanceAPR %Min. Payment
$
%
$
$
%
$
$
%
$
Total balance: $24,500Min. payments: $460/mo
$
Total monthly payment: $660
Saves most interest
Avalanche Method
Pay highest interest rate first
Debt-free in3y 8m
Total interest paid$4,074
Payoff order:
TD Visamonth 19
Student Loanmonth 34
Car Loanmonth 44
Snowball Method
Pay lowest balance first
Debt-free in3y 8m
Total interest paid$4,074
Payoff order:
TD Visamonth 19
Student Loanmonth 34
Car Loanmonth 44
Impact of Your Extra $200/month
Interest saved
$4,844
Months sooner
29
Calculations assume fixed interest rates and consistent monthly payments. In practice, your minimum payments may decrease as balances drop — continuing at the same payment amount accelerates payoff further.
This calculator is for educational purposes only and does not constitute financial advice. Results are estimates based on the inputs you provide. Consult a licensed mortgage broker or financial advisor for advice specific to your situation.