Debt payoff
calculator
List your debts, set a total monthly budget, and see how long freedom takes — with the avalanche order (highest rate first) priced against the snowball (smallest balance first).
Two ways to attack a pile of debts
With several debts and one budget, the question is order. The avalanche targets the highest interest rate first — mathematically the cheapest route. The snowball targets the smallest balance first — quick eliminations that keep motivation alive. Either way, each cleared debt's payment rolls into the next: that rollover is where the acceleration comes from.
your whole budget attacks the debts in the chosen order,
rolling forward as each one dies. Minimum-payment
rules vary by lender and aren't modeled individually.
Which should you pick?
On paper, avalanche always wins or ties — the calculator shows exactly how much it saves on your numbers. In practice, behavioral research suggests people stick with plans that show early wins, which favors the snowball when the rate gap is small. If avalanche saves you $80 and snowball keeps you going, take the snowball. If it saves $3,000, take the math.
The one non-negotiable
The budget must beat the combined monthly interest or balances grow forever — the calculator flags that. Rate reduction (balance transfers, consolidation at a lower APR) attacks the same problem from the other side; the loan calculator prices any consolidation offer.
Debt payoff FAQ
Pay minimums on everything and throw every spare dollar at the highest-interest debt first. It minimizes total interest — the mathematically optimal order.
Attack the smallest balance first regardless of rate, rolling each cleared payment into the next. It costs somewhat more interest but delivers fast early wins that help people stay on plan.
Avalanche is always cheaper or equal on paper; snowball often wins on psychology. Compare the interest difference above — if it's small, pick whichever keeps you consistent.
If your monthly budget doesn't exceed the combined monthly interest, balances rise instead of falling and payoff never arrives. Increase the budget or reduce the rates.