Debt Payoff Calculator

Build a payoff plan for credit cards, personal loans, medical bills, and other debts. Compare debt snowball and debt avalanche strategies, see your payoff order, and find your debt-free date.

Your debts

Add each balance, APR, and minimum payment. The calculator keeps your total monthly budget constant as debts are paid off.

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Payoff strategy

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Amount above your combined minimum payments

Method

Snowball targets the smallest balance first. Avalanche targets the highest APR first.

Debt-Free Date
Aug 2026
Time to Pay Off
2 months
Total Interest
$693.33
Your monthly payments may not be high enough to reduce the debt balances. Increase the minimum or extra payment.

Payoff Summary

Starting Debt
$23,700.00
Monthly Budget
$885.00
Total Paid
$24,393.33
Strategy
Debt snowball

Payoff order

Snowball vs avalanche

Snowball interest$693.33
Avalanche interest$693.33
Avalanche interest difference$0.00

Financial Disclaimer

This calculator provides estimates for informational purposes only. Actual loan terms, rates, and payments may vary. This is not financial advice. Consult with a qualified financial advisor or lender for specific guidance. PayoffCalculator.io is not a lender and does not provide loans.

How to use the debt payoff calculator

Enter each debt balance, APR, and minimum payment. Then add any extra monthly amount you can put toward debt. The calculator applies your minimum payments, rolls freed-up payments into the next target debt, and shows the estimated payoff date and total interest.

Debt snowball vs debt avalanche

The debt snowball method targets the smallest balance first. It can create faster psychological wins because individual accounts disappear sooner. The debt avalanche method targets the highest APR first and usually saves more interest. The best method is the one you can follow consistently.

When debt consolidation may help

If you can qualify for a lower APR, consolidation may reduce interest and simplify several payments into one. Use the debt consolidation calculator to compare that option against your current payoff plan before taking a new loan.

Debt payoff questions

How does a debt payoff calculator work?

It adds interest to each debt each month, applies your minimum payments, then directs any extra payment to the target debt based on the payoff method you choose.

Is debt snowball or avalanche better?

The avalanche method usually saves the most interest because it targets the highest APR first. The snowball method targets the smallest balance first, which can be easier to stick with.

How much extra should I pay toward debt?

Start with an amount you can repeat every month after essentials and emergency savings. Even $50 to $100 extra can shorten the payoff timeline when it is paid consistently.

Should I consolidate debt instead?

Debt consolidation can help if it lowers your APR and you avoid adding new balances. Compare the consolidation payment and total interest against your current payoff plan.