Loans
Debt Payoff Calculator
Compare payoff approaches and estimate a debt-free timeline. Adjust the example inputs to explore how different assumptions affect the estimate.
Your scenario
Adjust the numbers
Start with the example values or enter your own assumptions.
Based on your inputs
Your estimate
Educational estimate only. Actual terms, taxes, fees, and returns may differ.
How to use this calculator
Add each balance, APR, and minimum payment. Set an extra monthly budget and compare the two payoff orders.
How the calculation works
Each month, modeled interest is added at APR ÷ 12. Minimum payments are applied, then the remaining extra budget is directed to the avalanche (highest APR) or snowball (lowest balance) target.
Worked example
If minimum payments do not cover estimated interest, the calculator warns that a payoff timeline cannot be estimated from the entered budget.
Assumptions and limitations
Assumes fixed APRs, monthly interest, and consistent minimums. Real card terms may use daily balances, variable APRs, changing minimum formulas, fees, or promotional periods.
Frequently asked questions
Which method has lower modeled interest?
Avalanche prioritizes the highest APR; compare both estimates for the entered values.
Why can no timeline appear?
The entered minimum and extra payments may not reduce the total debt after modeled interest.
Sources and further reading
Learn more
- Debt Snowball vs. Debt Avalanche →
- How to Pay Off Debt Faster: A Practical Payment Plan →
- How to Estimate Total Interest on a Fixed-Rate Loan →
- How Credit Card Interest Is Calculated →
- Debt Consolidation vs. a Payoff Plan: Costs to Compare →
- 0% APR vs. Deferred Interest: Read the Promotion Carefully →
- Building Emergency Savings While Paying Off Debt →
- How Credit Card Minimum Payments Affect Payoff Time →
Related calculators
Educational tool only. It does not provide personalized financial, tax, or legal advice.