Debt Payoff Calculator
Free debt payoff calculator to plan your debt-free journey. Add multiple debts with balances and interest rates. Compare Avalanche (highest interest first) vs Snowball (lowest balance first) strategies. See your debt-free date and total interest saved with extra payments.
Your Debts
3/10 debtsThis extra amount is applied on top of all minimum payments each month.
Total Monthly Budget
$980.00
$780.00 minimums + $200.00 extra
Total Debt
$42,000.00
Number of Debts
3
Weighted Avg. Rate
7.57%
Monthly Budget
$980.00
Payoff Strategy
You Could Be Debt-Free By
March 2030
4 years, 1 month using the Avalanche method
Months to Payoff
49
4 years, 1 month
Total Interest Paid
$5,519.78
Interest Saved
$5,166.44
vs. minimum payments
Time Saved
63 mo
vs. minimum payments
Minimum Payments Only (Baseline)
Time to Payoff
9 years, 4 months
Total Interest
$10,686.22
Total Paid
$52,686.22
Strategy Comparison
| Metric | Min. Only | Avalanche | Snowball |
|---|---|---|---|
| Months to Payoff | 112 | 49 | 49 |
| Total Interest | $10,686 | $5,520 | $5,520 |
| Interest Saved | -- | $5,166 | $5,166 |
| Debt-Free Date | June 2035 | March 2030 | March 2030 |
Elimination Order (Avalanche)
Payoff Timeline
Monthly Payment Schedule (First 12 Months)
| Month | Credit Card | Car Loan | Student Loan | Total | Remaining |
|---|---|---|---|---|---|
| 1 | $350.00 | $350.00 | $280.00 | $980.00 | $41,284.96 |
| 2 | $350.00 | $350.00 | $280.00 | $980.00 | $40,562.77 |
| 3 | $350.00 | $350.00 | $280.00 | $980.00 | $39,833.33 |
| 4 | $350.00 | $350.00 | $280.00 | $980.00 | $39,096.53 |
| 5 | $350.00 | $350.00 | $280.00 | $980.00 | $38,352.27 |
| 6 | $350.00 | $350.00 | $280.00 | $980.00 | $37,600.43 |
| 7 | $350.00 | $350.00 | $280.00 | $980.00 | $36,840.90 |
| 8 | $350.00 | $350.00 | $280.00 | $980.00 | $36,073.57 |
| 9 | $350.00 | $350.00 | $280.00 | $980.00 | $35,298.31 |
| 10 | $350.00 | $350.00 | $280.00 | $980.00 | $34,515.02 |
| 11 | $350.00 | $350.00 | $280.00 | $980.00 | $33,723.57 |
| 12 | $350.00 | $350.00 | $280.00 | $980.00 | $32,923.84 |
Showing first 12 of 49 months. Copy results for the full schedule.
By paying an extra $200.00/month with the Avalanche method, you save:
$5,166
in interest
63 mo
sooner debt-free
How to Use Debt Payoff Calculator
- 1Add each debt with name, balance, interest rate, and minimum payment.
- 2Enter any extra monthly payment amount.
- 3Compare Avalanche vs Snowball payoff strategies.
- 4View your debt-free date and total interest saved.
Frequently Asked Questions
What is the debt avalanche method?▾
The avalanche method prioritizes paying off debts with the highest interest rate first, minimizing total interest paid over time.
What is the debt snowball method?▾
The snowball method pays off the smallest balance first for quick wins and motivation, then rolls that payment into the next smallest debt.
Which is better: avalanche or snowball?▾
Mathematically, avalanche saves more on interest. But snowball provides psychological wins that keep people motivated. Choose what works for your personality.
About Debt Payoff Calculator
Free debt payoff calculator to plan your debt-free journey. Add multiple debts with balances and interest rates. Compare Avalanche (highest interest first) vs Snowball (lowest balance first) strategies. See your debt-free date and total interest saved with extra payments.
NexTool's Debt Payoff Calculator is completely free to use with no sign-up required. Your data is processed directly in your browser and never sent to our servers, ensuring complete privacy and instant results.
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