Enter each of your debts with the current balance, interest rate, and minimum payment. Then enter how much extra you can put toward debt each month on top of the minimums. Choose a payoff strategy — Snowball or Avalanche — and the calculator runs a month-by-month simulation showing exactly when each debt gets paid off, how much interest you'll pay, and your debt-free date.
The Debt Snowball, popularized by Dave Ramsey, pays off your smallest balance first while making minimum payments on everything else. When that debt is gone, you roll its payment into the next smallest. The psychological momentum of quick early wins helps many people stay motivated and stick to the plan — even though it typically costs more in total interest than the Avalanche method.
The Debt Avalanche targets your highest interest rate first, regardless of balance. This is mathematically optimal — it minimizes the total interest you pay over the life of your debts. The calculator shows you exactly how much you save compared to the Snowball method. The tradeoff is that if your highest-rate debt also has a large balance, it may take longer before you see your first debt eliminated.
The Avalanche method always saves more money. The Snowball method wins on motivation. The best method is whichever one you'll actually stick with. If you need early wins to stay on track, Snowball may be worth the extra interest. If you're disciplined and the numbers matter most to you, choose Avalanche. This calculator shows you the comparison either way so you can make an informed choice.
Enter $0 in the Extra Payment field. The calculator will still show your payoff timeline and total interest paid using minimums only — which is often eye-opening. Even a small extra amount, like $25 or $50 per month, can shave months or years off your payoff date. Use that as motivation to find room in your budget.
Each month, interest is calculated as: balance × (annual rate ÷ 12). For example, a $5,000 balance at 18% APR accrues $75 in interest that month. The minimum payment is applied first to interest, then to principal. Any extra payment goes directly to principal on the target debt, which is why extra payments are so powerful — every dollar reduces the balance that future interest is calculated on.
Yes. Your debts, extra payment amount, and chosen strategy are automatically saved to your browser's local storage whenever you click Calculate or the Save button. Your data never leaves your device — nothing is sent to any server. If you clear your browser data or use a different browser, you'll need to re-enter your information.
Yes. After calculating, click the Print / Save PDF button. Your browser's print dialog will open — choose "Save as PDF" as the destination to get a clean PDF of your payoff summary and full month-by-month schedule. The dark header and charts are print-optimized.
The calculations assume a fixed interest rate and that you make your full budgeted payment every month without exception. Real-world results may vary due to rate changes, missed payments, new debt, or changes in minimum payment requirements. Use this tool as a planning guide, not a guarantee.
No. This tool is for educational and informational purposes only. It does not account for your full financial picture, tax situation, or individual circumstances. Always consult a qualified financial advisor or credit counselor before making major debt payoff decisions.
Yes, completely free with no account required, no ads, and no data collection. All calculations happen in your browser.