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Nivesly Tools

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.

FreeNo sign-upAvalanche & SnowballMultiple debts

Payoff Strategy

$

Applied to focus debt after minimums

Your Debts

$
%
$
$
%
$
$
%
$

Debt-Free In

4 yr 5 mo

Paid off by August 2030

Total Debt

$23,000

Monthly Payment

$600

$500 min + $100 extra

Total Interest

$6,484

with this strategy

Total Paid

$29,484

Payoff Order

  1. 1Credit Card
  2. 2Auto Loan
  3. 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."