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.
Every calculation runs privately in your browser. The balances and rates you enter are never sent to a server or stored anywhere, so you can plan with real numbers without worrying about where they go.
Reading your results
After you calculate, you'll see four things. The debt-free date is the month your final balance reaches zero at the payment level you entered. Time to payoff expresses that same span in years and months. Total interest is the full cost of borrowing across the whole plan — money that goes to lenders rather than your balance. And interest saved compares your plan against paying only the minimums, showing what your extra payment actually buys you. The chart beneath traces your combined balance falling month by month, so you can see the curve steepen as each debt is cleared.
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. We cover this trade-off in depth in our guide to snowball vs avalanche.
Why even a small extra payment matters
Because interest compounds on the remaining balance, every extra dollar you pay early removes future interest charges. This is the single biggest lever in any payoff plan — bigger, usually, than the choice of method. Adjust the extra-payment field above and watch your debt-free date and total interest move in real time. Even an extra $50 a month can pull your debt-free date forward by many months and save hundreds in interest, because that money stops accruing future charges before they ever happen.
How to get the most accurate results
Enter the figures straight from your most recent statements. Use the purchase APR for credit cards (the rate on everyday spending), your current balance rather than your original loan amount, and the minimum payment your lender requires. The plan assumes you stop adding new charges to these balances — if you keep spending on a card you're paying down, your real timeline will be longer than the estimate. For a full walkthrough of turning these numbers into a monthly routine, see how to build a debt payoff plan.
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. Our full comparison guide walks through how to decide.
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. If you're unsure what APR means or how it's charged, see our guide to understanding APR.
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.
What's the fastest way to pay off credit card debt?
Stop adding new charges, pay more than the minimum, attack one card at a time in a deliberate order, and look into lowering your interest rate. Our guide on paying off credit card debt fast covers each step.
Can I save or share my plan?
Yes. After calculating, use the "Download my plan (PDF)" button to save a clean report with your debt-free date and a month-by-month schedule.