Snowball
- Time
- Interest
Debt payoff calculator
See when you will be debt-free and compare which method pays less interest: debt snowball or avalanche.
Your inputs are processed in your browserYour debts
Add the balance, annual rate and minimum payment for each debt. Then enter how much extra you can pay each month.
Simulation result
Time to pay off
Total interest
Total paid
Monthly budget
Method
Actual payoff order:
Compare methods
Avalanche
- Time
- Interest
Monthly payments
Each row shows how the monthly budget is split across your debts. The final month can be lower because it only pays the remaining balances.
| Month | Monthly total |
|---|
Debt-by-debt detail
| Debt | Interest paid | Paid off | Total paid |
|---|
This is an indicative estimate: it assumes constant rates, monthly payments and no new charges. Actual results can change because of fees, rate changes, variable minimum payments or new purchases. It is not financial advice.
Snowball vs. avalanche
The snowball method sends extra money to the debt with the smallest balance. Seeing a debt disappear quickly can help you stay on track. The avalanche method prioritizes the highest interest rate and usually reduces the total cost of interest.
With either method, you keep paying the minimum on every debt. When one is paid off, its minimum payment is added to the money available for the next target.
How to read the result
Time to pay off is the number of months until the last balance reaches zero. Total interest is the cost of financing the debts during the simulation; it does not include fees or penalties.
Enter your current figures and try different extra payments. A small, consistent extra payment can change both the order and final cost.
Assumptions and reference
The simulation applies a constant monthly interest rate, keeps minimum payments in place and sends the extra budget to the selected target. Each creditor may apply different fees, promotions, limits or payment rules.
Compare the result with your statements and see the CFPB consumer debt resources for general guidance. Reviewed on August 5, 2026.
Frequently asked questions
What does this debt payoff calculator calculate?
It calculates how many months you need to pay off all your debts and how much interest you will pay from your balances, rates, minimum payments, extra payment and chosen method.
What is the difference between snowball and avalanche?
Snowball prioritizes the debt with the smallest balance; avalanche prioritizes the debt with the highest interest rate. Both methods keep minimum payments and apply the extra to the current target.
What details do I need to enter?
Enter the current balance, annual interest rate and monthly minimum payment for each debt. Also add how much extra you can pay each month.
Are my details sent to a server?
The calculation runs in your browser, and the details you enter are not sent to the tool's server.