Debt Payoff Planner
See how long it takes to clear several debts with the snowball or avalanche method.
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How to do it
- 1Fill in the boxes
Type your numbers or pick the options you need.
- 2See the result
The answer updates right away as you change a value.
- 3Use it
Copy the result or note it down. Nothing is sent anywhere.
About this tool
List your debts as name, balance, yearly rate and minimum payment, add an extra monthly amount and choose snowball (smallest balance first) or avalanche (highest rate first). The tool shows the months, the interest and the order of payoff.
The two methods
Snowball pays the smallest balance first, which gives quick wins and keeps you motivated. Avalanche pays the highest interest rate first, which usually costs the least interest. Compare both with the same extra amount.
Tips
Keep paying the minimum on every debt. Put any extra money on the target debt, and when it is gone roll its payment to the next. Stop adding new debt while you pay.
Frequently asked questions
What format do the debts use?
One per line: name, balance, yearly rate in percent, minimum payment.
Which method is cheaper?
Avalanche usually costs less interest. Snowball can be easier to stick to.
Does it include new purchases?
No. It assumes you add no new debt.
Is the result exact?
It is an estimate with monthly compounding.