Debt Payoff Calculator
Put in every card and loan, and see the date you're actually debt-free — plus what the avalanche and snowball methods each cost you, side by side.
Fill in the fields to see your result.
The order your debts disappear
Which debt clears first under the method you picked, how long each one takes, and what each costs you in interest along the way.
How paying off multiple debts actually works
With several debts, the winning move is always the same shape: pay the minimum on everything, then throw every spare unit at one debt until it's gone. When that debt clears, its minimum payment doesn't go back into your spending — it rolls onto the next debt. Then that one clears faster, and its payment rolls on too.
That's the snowball effect, and it's why the last debt disappears far faster than the first. The only real question is which debt you attack first.
Avalanche vs snowball
| Avalanche | Snowball | |
|---|---|---|
| Attack first | Highest interest rate | Smallest balance |
| Total interest | Always lower or equal | Usually higher |
| First win arrives | Can take a while | Usually quickly |
| Best for | Cost | Motivation |
Avalanche is mathematically optimal, always. Interest is charged by rate, so killing the highest rate first removes the most expensive interest. Snowball gives you a psychological win sooner, which for a lot of people is the difference between sticking with the plan and giving up in month four.
The honest answer: run both in the calculator above and look at the gap. If avalanche only saves a small amount, take the snowball and enjoy the early win. If the gap is large, the avalanche is worth the patience.
A worked example
Three debts — a 6,800 credit card at 23.9% (minimum 140), a 2,000 personal loan at 8.9% (minimum 65), and a 3,400 store card at 26.9% (minimum 95) — with an extra 250 a month:
- Avalanche: store card first, then credit card, then the loan. Debt-free in 30 months, paying about 3,606 in interest.
- Snowball: personal loan first, then store card, then credit card. Debt-free in 31 months, paying about 4,162 in interest.
- So the avalanche saves roughly 557 and one month.
The number that matters most isn't the method
Take the same three debts and pay only the minimums — no extra at all:
- You'd be in debt for 82 months instead of 30 — nearly seven years
- You'd pay about 12,303 in interest instead of 3,606
That extra 250 a month saves nearly 8,700 and more than four years. The gap between avalanche and snowball is 557; the gap between paying extra and not is 8,700. Pick whichever method you'll actually stick to, then focus on finding the extra payment — that's where the real money is.
Why minimum payments alone take so long
Credit card minimums are usually a small percentage of the balance, so as the balance falls the minimum falls too. The payment shrinks just as fast as the debt, which is why a card at a typical rate can take decades on minimums alone. The fix is to keep paying a fixed amount rather than whatever the statement asks for — the calculator above assumes you do exactly that.
Before you start
- Check for early-repayment penalties on fixed loans. Cards almost never have them; some personal loans do.
- Keep a small emergency buffer. Clearing a card only to put the next unexpected bill straight back on it is the most common way these plans fail.
- Look at balance transfers or consolidation for high-rate cards — but compare the fee against the interest saved, and make sure you won't just refill the cleared card.
- Stop adding to the debt. No plan survives new spending on the same card.
Frequently asked questions
Which method should I actually pick?
Run both and compare. Avalanche always costs less in interest — sometimes by a lot, sometimes by very little. If the difference is small, snowball is the better real-world choice because the early win keeps you going. The best method is the one you'll still be following in a year.
What counts as the minimum payment?
The smallest amount your lender will accept that month without a penalty — it's printed on your statement. For cards it's usually a small percentage of the balance; for loans it's the fixed instalment. The calculator assumes you keep paying at least that amount on every debt while the extra goes to one target.
Why does it say a debt isn't shrinking?
Because its minimum payment is smaller than the interest that debt charges each month, so the balance grows no matter what you pay. It's a real situation on high-rate cards with very low minimums. The only ways out are paying more than the minimum on that debt, or moving the balance somewhere cheaper.
Should I consolidate instead?
It can help — one lower rate and one payment is simpler and often cheaper. Compare the total interest on the consolidation loan against the total this calculator shows for your current debts, and include any arrangement fee. The risk isn't the maths, it's behavioural: people consolidate, free up their cards, and fill them again.
Does this include my mortgage?
You can add it, but most people leave it out. Mortgage rates are usually far lower than card rates, so it would sit last in the queue anyway, and including it makes the payoff date feel unreachable. Clear the expensive debt first; the mortgage is a separate project.
Is anything I enter stored?
No. Every calculation runs inside your own browser. Your balances and rates are never uploaded, saved or shared, and there's no sign-up.
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Please note: CalcuLane gives estimates for general information only and is not financial advice. Lenders round differently, and fees, insurance and payment-date rules can change what you actually pay. Always confirm figures with your lender before committing to a loan.