Debt payoff calculator
Enter your debts, rates, minimum payments, and extra monthly payoff amount to compare avalanche and snowball strategies side by side.
Debt inputs
Add balances, APRs, and minimums. Extra payment gets rolled into the next target debt.
Avalanche targets the highest APR first. Snowball targets the smallest balance first. Both keep paying every minimum.
Recommended strategy
$5,954 total interest
$6,311 total interest
What this means
avalancheAvalanche saves about $356 versus snowball and finishes about the same time, because the highest-rate balance gets attacked first.
Easier in Tablewealth
Skip the manual debt entry.
In Tablewealth, synced and manually tracked accounts can feed balances into planning views, so you are not typing every card, loan, and payment by hand each time your debt picture changes.
Debt balance over time
$33,700 starting debtPayoff order
The first debts each strategy attacks| Debt | Balance | APR | Avalanche payoff | Snowball payoff |
|---|---|---|---|---|
| Credit card | $12,400 | 22.99% | Month 22 | Month 23 |
| Personal loan | $2,800 | 12.5% | Month 23 | Month 6 |
| Student loan | $18,500 | 6.25% | Month 39 | Month 39 |
See disclosures below before using these estimates.
Method notes
How to choose a payoff strategy
The avalanche method pays all minimums, then sends extra cash to the highest APR debt first. This usually minimizes interest cost. The snowball method pays all minimums, then sends extra cash to the smallest balance first. This may create faster early wins and can be easier to stick with.
This calculator uses a simplified monthly projection. It does not model changing rates, new purchases, fees, promotional APRs, tax effects, delinquency, credit-score impacts, or lender-specific payment allocation rules. Results are educational estimates only and are not financial, tax, accounting, or legal advice.