Debt Payoff Calculator
Compare debt payoff strategies and find your fastest path to becoming debt-free.
Additional amount you can put toward debt each month beyond minimums
Add your debts to see your payoff plan
The Avalanche Method prioritizes debts with the highest interest rates first. While it takes discipline, this approach saves you the most money in interest over time. It's mathematically optimal.
The Snowball Method focuses on paying off the smallest balances first, regardless of interest rate. This creates quick wins that can boost motivation and help you stick to your debt payoff plan.
Both methods work - the best one is the one you'll stick with. If you need motivation from quick wins, start with snowball. If you're disciplined and want to minimize interest, go with avalanche.
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For informational and educational purposes only. This calculator provides estimates based on the information you provide and general financial principles. Results are not guaranteed and should not be considered financial, investment, or tax advice. Please consult a qualified financial advisor for personalized recommendations.