What is the difference between the Avalanche and Snowball strategies?

The Avalanche strategy prioritizes paying off debts with the highest APR first to minimize total interest, while the Snowball strategy targets the smallest balances first for quick psychological wins.

How do I format the debt list in the input area?

Enter each debt on a new line using the format: 'Name, Balance, APR, Minimum Payment'. For example: 'Credit Card, 4500, 22.0, 90'.

Can I calculate my payoff timeline without making extra monthly payments?

Yes, you can set the extra monthly payment to 0 or select the 'Minimum Only' strategy to see your baseline payoff timeline.

Does this calculator support promotional 0% APR periods?

The calculator uses a fixed APR for the duration of the payoff period; it does not support variable or temporary promotional rates.

What does the balance decline curve show?

It visually charts the projected reduction of your total debt balance over time, allowing you to compare how quickly different strategies eliminate your debt.

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Debt Payoff Calculator

General-purpose debt payoff planner comparing avalanche, snowball, and minimum-only strategies. Enter debts as 'name, balance, APR%, minPayment $' per line plus an extra monthly payment. Shows payoff time, total interest, savings, balance decline curves, and a per-debt repayment detail table.

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1 examples

3 debts: [email protected]%, $4.5k@22%, $1.5k@0%, $300 extra/month, avalanche

Personal Loan $10k at 9.5% (min $200), Credit Card $4.5k at 22% (min $90), Medical Bill $1.5k at 0% (min $50). Avalanche targets the 22% card first. Compare all three strategies.

<div>Debt Payoff Calculator</div>

Inputs

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4 options

ContentPaste or type the main input values.1

Debts (one per line: name, balance, APR%, minPayment $)textareaRequired

SettingsAdjust formats, ranges, numbers, and modes.3

Extra Monthly PaymentnumberRequiredStrategyselectOptionalDecimal PlacesnumberOptional

Result

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Debt Payoff Calculator

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Key facts

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Examples

1. Accelerating Credit Card and Loan Payoff

2. Snowball Method for Quick Wins

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