How the debt payoff planner works
This calculator models exactly how your balances shrink each month. It applies your minimum payments to every debt, then funnels any extra payment toward one target debt at a time. When that debt hits zero, its freed-up payment rolls into the next — accelerating each payoff. This rollover effect is why having a plan beats paying minimums alone.
Avalanche vs. snowball
The avalanche method targets your highest-interest debt first. Mathematically, it saves you the most money and time. The snowball method targets your smallest balance first, giving you quick wins that many people find motivating enough to actually stick with the plan. Try both above — for most people the difference in total interest is smaller than expected, so the best strategy is the one you'll follow.
Why even a small extra payment matters
Because interest compounds on the remaining balance, every extra dollar you pay early removes future interest charges. Adjust the extra-payment field above and watch your debt-free date and total interest move in real time.
Frequently asked questions
Is this calculator free?
Yes, completely free. Nothing is stored or sent anywhere — every calculation runs privately in your browser.
Should I use avalanche or snowball?
Avalanche saves more money; snowball builds momentum. If the interest difference is small, choose the method whose pace keeps you motivated. The calculator shows both so you can compare.
What APR should I enter?
Use the annual percentage rate from your statement — for credit cards it's usually listed as the purchase APR. Enter it as a number, e.g. 22.9.
Does it account for new charges?
No — it assumes you stop adding to these balances. New spending on a card you're paying off will extend your timeline.