Debt Payoff Calculator
Compare debt avalanche and snowball with the same budget. See what to pay each creditor each month, add one-time extras and download your plan.
A clear payment plan for every debt
Keep one monthly budget as accounts close. Compare highest-rate-first and smallest-balance-first, then see exactly how the estimate allocates each month’s payment.
Monthly planning estimate in USD. Starting values are illustrations. Actual credit-card interest, minimums and payoff amounts can differ. No financial inputs are saved automatically or placed in the URL.
1. Your debts
Enter today’s balances and a fixed monthly minimum for each. Use a decimal dot, without thousands commas.
Up to 12 debts. Names are optional.
Add a one-time payment
For example, an extra amount available in month 6. Month 1 is your first payment; this tool does not assume a statement or calendar date.
2. Choose the payment order
Both cover all minimums first and use the same monthly budget. Money freed by a payoff goes to the next debt, including in the same month.
Your path to debt-free
First account closes in month 17. Total paid $16,334.45.
Month 1 · pay $590.00
The first month allocates $350 to Card A, $60 to Small balance and $180 to Loan.
Compare the complete plans
Same starting debts, recurring budget and one-time extras.
Avalanche · 28 months · $1,834.45 interest
Snowball · 29 months · $2,068.12 interest
Fixed minimums only, without extras or rollover: 56 months and $4,538.57 interest. This reference uses a different budget.
Try a complete example
How the monthly estimate works
Interest is opening balance × APR ÷ 12 ÷ 100, rounded half-up to a cent for each account each month. We add interest, then pay each entered minimum, capped at the amount owed. The regular budget remains the sum of the initial minimums plus your recurring extra. A one-time amount increases only its specified month’s budget.
After minimums, avalanche directs remaining money to the highest APR; equal rates use the smaller remaining balance. Snowball chooses the smallest remaining balance after interest and minimums; equal balances use the higher APR. Exact ties use input order. When an account closes, unused money continues to the next account in that month. Money beyond the final amount owed remains unspent.
The minimum-only reference ignores every extra amount and does not carry freed payments forward. Its monthly spending falls as debts close. Avalanche versus snowball is the comparison with equal available budgets.
Limits and real-world differences
This is a simplified monthly model, not a lender payoff quote. Many credit cards calculate interest daily. Statement timing, grace periods, changing minimum-payment formulas, fees, new borrowing, promotional or deferred interest, and lender allocation rules are not modeled. Confirm actual minimums and final payoff amounts with each creditor.
Supported inputs: 1–12 debts; positive balance and scheduled minimum, each up to $1,000,000,000; APR 0–1,000%; recurring and one-time extras from $0 to $1,000,000,000 each. Money and APR accept at most two decimals. Up to 8 one-time payments in integer months 1–600; entries in the same month add together. These are software limits, not recommendations.
Calculation stops after 600 months or before accrued total debt would exceed $1,000,000,000,000. An unfinished plan reports its remaining balance and interest only through the last calculated month. Extras after the final calculated month are excluded. All accounts use USD; do not mix currencies.
Sources: CFPB debt action plan; CFPB on credit-card interest; CFPB daily periodic rates. For one loan’s scheduled payment and amortization, use the loan calculator.
