Debt payoff planner

Avalanche pays off the highest interest rate debt first, which is mathematically faster and cheaper overall. Snowball pays off the smallest balance first, which clears individual debts sooner and can be easier to stick with, since progress feels more immediate.

If sticking to the plan is your biggest risk, snowball often wins in practice, even though it costs a bit more in interest. If you are confident you will stay consistent either way, avalanche saves you real money. This tool shows both, so you can pick with your eyes open.

The calculator applies your minimum payments to every debt, then directs any extra amount to one debt at a time based on the strategy you pick, recalculating the balance and interest owed each month until every balance reaches zero.

Leave it blank or enter zero, and the calculator treats that balance as interest free while still including it in your payoff order using your minimum payment. Check a recent statement when you can, since even a rough rate improves accuracy.

Yes, extra payments go straight toward principal rather than interest, which shortens every debt behind it in the order too. Even a modest extra amount each month, applied consistently, often cuts years off a payoff timeline.