Debt Payoff Calculator
A debt payoff calculator turns a pile of balances into a month-by-month plan you can actually follow. This worked example uses three debts — two credit cards and a car loan — with a $500 monthly budget. Avalanche targets the highest rate first; snowball clears the smallest balance first. Both strategies roll each cleared minimum into the next target, which is why either beats paying minimums alone.
Use the controls below to enter your own debts, labels, rates, and minimums. We compute both strategies every time and show the comparison at the top. Download a printable PDF or CSV for the schedule you want to follow. Your debts stay in your browser — we never see them.
Planning estimate only, not financial advice. This tool does not model fees, penalty rates, promotional APRs, or collections.
Your debts stay in your browser. We never see them, and nothing is saved.
Avalanche (highest rate first)
Payoff: 38 months
Total interest: $3,177.55
First debt cleared: month 26
Snowball (smallest balance first)
Payoff: 39 months
Total interest: $3,302.31
First debt cleared: month 13
Avalanche: 38 months · $3,177.55 interest
Snowball: 39 months · $3,302.31 interest
Avalanche saves $124.76 in interest compared to snowball.
Snowball clears your first debt 13 months sooner.
Paying only minimums costs $3,378.12 more in interest than avalanche.
Avalanche clear order
- 1. Visa — month 26
- 2. Mastercard — month 30
- 3. Car loan — month 38
| Month | Debt | Payment | Interest | Principal | Balance |
|---|---|---|---|---|---|
| 1 | Visa | $2,880.00 | $903.83 | $1,976.17 | $2,823.83 |
| 1 | Mastercard | $780.00 | $384.87 | $395.13 | $1,704.87 |
| 1 | Car loan | $2,340.00 | $498.25 | $1,841.75 | $6,658.25 |
| 2 | Visa | $2,880.00 | $398.47 | $2,481.53 | $342.30 |
| 2 | Mastercard | $780.00 | $298.25 | $481.75 | $1,223.12 |
| 2 | Car loan | $2,340.00 | $374.92 | $1,965.08 | $4,693.17 |
| 3 | Visa | $350.95 | $8.65 | $342.30 | $0.00 |
| 3 | Mastercard | $1,309.72 | $86.60 | $1,223.12 | $0.00 |
| 3 | Car loan | $4,170.00 | $218.36 | $3,951.64 | $741.53 |
| 4 | Car loan ✓ | $746.88 | $5.35 | $741.53 | $0.00 |
The Nifty App · theniftyapp.com
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