Debt Payoff Calculator
When Will You Be Debt-Free?
Enter your debts, pick a strategy (Avalanche pays highest interest first; Snowball pays smallest balance first), and add any extra monthly payment. See your debt-free date and total interest paid.
Your debts
Debt-free in
4.1 years
49 months · paid off October 2030
How to use this calculator
List each debt with its balance, interest rate, and minimum payment. Add any extra money you can pay each month on top of the minimums. Then pick a strategy.
The calculator pays every minimum, puts your extra money on one target debt, and rolls each paid-off payment into the next debt. That rolling effect is what speeds things up.
Avalanche or snowball?
Avalanche pays the highest interest rate first. It usually costs the least in total interest. Snowball pays the smallest balance first. You clear whole debts sooner, and those quick wins keep many people going.
The right plan is the one you will stick with. Try both and compare the total interest line.
What the result means
Your debt-free date assumes you pay the same amount every month and add no new debt. Total interest is what you pay on top of your balances. If the date feels far away, raise the extra payment a little and watch how much it moves.
What it does not cover
- Rates that change, like a variable loan or a promo rate that ends
- Late fees, annual fees, or new charges on your cards
- Whether a lower-rate loan or refinance could shorten your timeline
- Changes in your income or a surprise expense
Common questions
Is the snowball or avalanche method better?
Avalanche usually saves more interest because it attacks the most expensive debt first. Snowball can feel better because you pay off whole debts sooner. Both work if you keep going.
Why does my debt-free date look so far away?
Minimum payments are set low, so much of each payment goes to interest. Even a small extra amount each month goes straight to the balance and can cut months or years off.
Should I keep some savings while I pay off debt?
Most people do better with a small cushion set aside. Without one, a surprise bill often goes right back on a credit card and undoes your progress.
Will consolidating my debts help?
It can, if the new rate is lower and you stop adding new charges. Watch for fees and a longer payoff term, which can cost more in the end. We can run the numbers with you.
Educational tool only. Not financial, tax, or legal advice. Estimates use standard assumptions and may not reflect your specific situation. Talk to a licensed professional before acting on results.