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Debt Payoff Calculator: See Your Free Date

Enter your debts and see exactly when you’ll be debt-free. Compare snowball vs avalanche strategies and see how extra payments shorten your timeline.

[INTERACTIVE CALCULATOR PLACEHOLDER]

Inputs (per debt):

• Debt name
• Current balance
• Interest rate (APR)
• Minimum monthly payment
• Extra monthly payment available (across all debts)

Outputs:

• Debt-free date (snowball method)
• Debt-free date (avalanche method)
• Total interest paid (each method)
• Interest saved (avalanche vs snowball)
• Month-by-month payoff schedule
• Impact of adding $50, $100, $200 extra/month

Quick Impact Table

How extra payments affect a $30,000 total debt at 18% average APR:

Monthly Extra Payment	Payoff Time	Total Interest	Interest Saved vs Minimum
$0 (minimums only)	14 years	$29,400	—
+$100	5.5 years	$13,200	$16,200
+$200	3.8 years	$8,900	$20,500
+$500	2.2 years	$4,800	$24,600
+$1,000	1.4 years	$2,700	$26,700

Even $100/month extra cuts payoff time from 14 years to 5.5 years and saves $16,200 in interest.

Snowball vs Avalanche: Which Saves More?

Method	Approach	Saves More Money?	Better Motivation?
Avalanche	Highest interest rate first	Yes (always)	Lower (big debts take longer)
Snowball	Smallest balance first	No	Higher (quick wins)

The calculator shows both side-by-side so you can see the exact dollar difference and choose based on your personality.

Related

• Debt Payoff Strategies: Avalanche vs Snowball vs Consolidation
• Emergency Fund Calculator: How Much Do You Need?
• Best Budgeting Apps Compared: YNAB vs Mint vs Monarch

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This content is for informational purposes only and does not constitute financial advice.