Free Web Tool · No Sign-up · No Bank Account

Debt Payoff Calculator 2026

See the exact month you'll be debt-free. Compare snowball vs avalanche on your real balances, and watch extra payments pull your payoff date forward.

Your Debts

3 debts

Balance

APR %

Min / mo

Balance

APR %

Min / mo

Balance

APR %

Min / mo

Your Plan

Extra payment each month (above minimums)

Both plans are calculated and compared below — pick one to feature in your headline result.

Debt-Free In

months

Debt-free by Sep 2030

Total interest

$6,216

Total paid

$28,032

Monthly

$584

Avalanche saves $512 in interest vs snowball

Snowball vs Avalanche

Snowball

Time4 yrs 1 mo

Interest$6,728

Debt-freeOct 2030

Avalanche

Time4 years

Interest$6,216

Debt-freeSep 2030

Your payoff order

Credit Card A

Month 33 · Jun 2029

Credit Card B

Month 41 · Feb 2030

Auto Loan

Month 48 · Sep 2030

Estimate only. Interest accrues monthly on each balance. Actual payoff depends on your lender's daily/monthly accrual, fees, and when payments post.

Snowball or Avalanche? How This Calculator Works

Enter each debt — the name, what you owe, the APR, and the minimum monthly payment. The calculator pays every minimum first, then aims whatever extra you budget at a single priority target each month, rolling that payment onto the next debt as each one is cleared.

Debt snowball targets your smallest balance first. You feel a win fast, which keeps most people consistent. Debt avalanche targets your highest interest rate first, which is mathematically cheaper. Both plans are computed side-by-side below the calculator so you can see the real difference in months and dollars — not just theory.

Interest accrues monthly on every remaining balance, so high-rate cards snowball against you while you pay off low-rate loans. That's exactly why avalanche usually finishes sooner, and why the extra-payment box matters so much: every dollar above the minimum hits principal and stops compounding.

What the Numbers Mean

Debt-free date	The month your last balance hits $0 under the chosen plan.
Total interest	Every dollar of interest you'll pay before you're clear — the number avalanche minimizes.
Monthly budget	All minimums plus your extra payment — what you must actually afford each month.
Payoff order	The exact sequence your debts disappear in, with the month and date each clears.

Frequently Asked Questions

What is the difference between debt snowball and debt avalanche?

Both pay minimums on every debt and throw extra cash at one target. Snowball attacks the smallest balance first for quick wins and momentum. Avalanche attacks the highest interest rate first to minimize total interest paid.

Which strategy pays off debt faster?

Avalanche almost always clears debt slightly faster and cheaper because it kills the most expensive balance first. Snowball can win on motivation — clearing a small card early keeps people on plan. This calculator runs both so you can compare the exact dates and interest.

How much do extra payments actually save?

A lot. Every extra dollar goes straight to principal, so it stops that money from compounding. Even $50–$150 a month on top of minimums can cut years off a payoff and save thousands in interest — drag the extra-payment box to watch your debt-free date move.

How are minimum payments handled?

You enter each debt's current minimum. The plan pays all minimums first, then applies any extra to your priority target. If minimums are too low to beat the interest, the calculator flags it as unpayable so you know to raise one.

Does this account for interest compounding?

Yes. Interest accrues monthly on each remaining balance at its APR, then payments reduce the principal. That's why high-rate debt grows fastest and why avalanche targets it first.

Is this an official payoff quote?

No — it's an educational estimate. Real lenders accrue interest daily or monthly, add fees, and post payments on specific dates. Use it to plan and compare strategies, then confirm balances with your servicers.

Available on Google Play

Turn this plan into a payoff habit

The Debt Payoff Planner & Snowball app adds a one-tap payment log, a windfall simulator for tax refunds and bonuses, progress rings per debt, and a side-by-side strategy tracker — all on your device, no bank account needed.

Download on Google Play