Debt payoff calculator

Financial Calculators

Debt Payoff Calculator

Enter what you owe, compare paying off the highest rate first (avalanche) against the smallest balance first (snowball), and see how much sooner — and how much cheaper — a plan gets you debt-free.

Enter what you owe — see how much sooner a plan clears it than paying minimums alone.

Your numbers stay in your browser until you ask the advisor.

Your numbers

Adjust the details

Assumptions

Debt-free in, at this pace

3 yr 6 mo

Workable but long — 3 yr 6 mo to clear. Extra payment is the lever that moves this the most.

Total owed today $12,200
Time to debt-free 3 yr 6 mo
Total interest paid $4,484

Estimates based on the assumptions above — real offers will differ.

Total balance falling to zero
$0$5,000$10,000NowMidwayDebt-free
Total balance remaining

Chart: total balance falls from $12,200 to zero over about 3 yr 6 mo.

Avalanche (highest rate first)
3 yr 6 mo · $4,484
Snowball (smallest balance first)
4 yr 3 mo · $5,909

Avalanche saves about $1,425 in interest compared with snowball on these balances — snowball clears its first account sooner.

Make sense of these numbers

AI reading

Get a plain-language reading of your result — what looks solid, what to watch, and questions worth asking a lender.

Educational guidance, not financial advice.

How to Read Your Result

Four things worth understanding before you pick a strategy.

Avalanche usually costs less Paying the highest-rate debt first minimises total interest — the comparison bars show exactly how much less, for your numbers.
Snowball can be easier to keep up Clearing a small balance first gives an early win. If motivation is the real obstacle, that can matter more than the interest saved.
Minimums outrunning interest is real If the tool says a debt never clears at this pace, that's the interest charged exceeding what gets paid off each month — raising the extra payment is the fix.
Extra payment is the biggest lever More than the strategy choice, the extra amount thrown at debt each month is what shortens the timeline the most.

What This Tool Does and Doesn't Do

The maths simulates both strategies month by month, applying minimums first and the strategy's target order to any extra payment, and it runs entirely in your browser. Nothing you type is sent anywhere unless you press "Explain my numbers", and even then only the figures go, never your name or contact details.

What it can't do is know your actual account terms — promotional rates, balance-transfer fees, and changing minimums aren't modelled. Treat the result as a well-informed comparison, not the exact schedule your lender will show you.

Important: This is educational information, not financial advice. Confirm the figures with a qualified adviser before you commit to anything.

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