Financial Calculators
Debt Payoff Calculator
Add all your debts, choose avalanche (lowest interest cost) or snowball (fastest wins), set an extra monthly payment, and see your exact debt-free date.
Payoff Strategy
Applied to focus debt after minimums
Your Debts
Debt-Free In
4 yr 5 mo
Paid off by March 2031
Total Debt
$23,000
Monthly Payment
$600
$500 min + $100 extra
Total Interest
$6,484
with this strategy
Total Paid
$29,484
Payoff Order
- 1Credit Card
- 2Auto Loan
- 3Personal Loan
Avalanche vs. Snowball — which is better?
Avalanche targets the highest-interest debt first. It minimises total interest paid and is mathematically optimal. Snowball targets the smallest balance first. It creates psychological momentum by eliminating debts faster, which can help with motivation. Both work — the best strategy is the one you stick to.
What does the extra payment do?
After paying all minimums, the extra amount is thrown at the focus debt (based on your chosen strategy). Once that debt is paid off, the money freed up from its minimum is added to the next focus debt — this is called "debt stacking" or the debt payoff "snowball effect."
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