Debt Payoff Calculator

How to use the debt payoff calculator

List each of your debts — a name, the current balance, the APR, and the minimum payment. Use the + Add debt button to add as many rows as you need, and the Remove button to drop one. Then set an extra monthly payment— any amount you can put toward your debts on top of the minimums. The large readout shows how soon you'll be debt-free using the avalanche method, and the cells below compare both strategies and the interest you save.

The chart plots your total balance falling to zero under each strategy, so you can see which clears faster. Use the export buttons to download the plan as a real Excel workbook or CSV, print it to PDF, or copy a link that reopens the calculator with your exact debts and extra payment.

How it works and what the number means

Both methods use the same fixed monthly budget — the sum of all your minimum payments plus your extra payment — but they aim it differently. The avalanche method directs every spare dollar at the debt with the highest interest rate, which minimizes the total interest you pay. The snowball method targets the smallest balance first, clearing individual debts quickly for a psychological boost. The key mechanic in both is the rollover: when one debt is paid off, the money that was going to its minimum is added to the payment on the next target, so your progress accelerates over time.

The debt-free date is the month every balance reaches zero. Avalanche almost always wins on total interest, but the gap is sometimes small — the calculator shows you exactly how much, so you can weigh pure savings against the motivation of quick wins. The single biggest lever is the extra payment: increasing it shortens the timeline and cuts interest on both plans.