Debt Payoff Calculator

The Avalanche method pays extra toward the debt with the highest interest rate first, minimizing total interest paid over time. The Snowball method pays extra toward the smallest balance first, prioritizing quick wins and psychological momentum over pure mathematical efficiency.

Each debt makes its minimum payment every month, while any extra payment you specify is directed entirely toward one debt at a time based on your chosen strategy, moving to the next debt once the current target is fully paid off.

For example, with two debts, a $3,000 balance at 24% APR ($90 minimum) and a $1,500 balance at 18% APR ($50 minimum), plus $100 in extra monthly payments using the Avalanche strategy, the higher-rate $3,000 balance gets targeted first. The combined payoff takes 27 months and costs $1,051.91 in total interest across both debts.