Add your debts, choose the snowball or avalanche method, and see exactly when you'll be debt-free and how much interest you'll pay.
| Payoff order | Debt | Paid off by month | Interest on this debt |
|---|
This calculator assumes fixed APRs and that minimum payments stay constant. It does not account for changing rates, new charges, fees, or promotional rates. Results are estimates for general informational purposes and are not financial advice.
Both methods put every spare dollar toward one debt at a time while paying minimums on the rest. The debt snowball targets your smallest balance first, then rolls that payment into the next-smallest — fast early wins that keep you motivated. The debt avalanche targets your highest interest rate first, which saves the most money mathematically. This calculator runs whichever you pick, and tells you how much interest the other method would have cost.
The avalanche method always pays the least total interest, because it kills your most expensive debt first. The snowball method usually costs slightly more interest but delivers quick psychological wins that help people stick with the plan. If the interest difference is small, the best method is the one you'll actually follow. Try both above and compare.
The avalanche method (highest APR first) saves the most interest. The snowball method (smallest balance first) gives faster early wins and better motivation. If the interest difference is small, choose the one you'll stick with.
The calculator applies your minimum payments to every debt, then directs your extra payment to the priority debt based on your chosen method. As each debt is cleared, its payment rolls into the next — accelerating the timeline.
Consolidation can help if it lowers your overall interest rate and you avoid running balances back up. Compare the total interest of your payoff plan above with a consolidation loan offer to see which costs less. This is a personal decision.
No. It assumes you stop adding new debt. New charges extend your payoff date and increase interest, so the plan works best when you pause new borrowing.