About Debt Payoff Calculator
What It Does
The Debt Payoff Calculator helps you create a plan to become debt-free. Enter all your debts, choose a payoff strategy, and see exactly how long it will take and how much interest you'll pay. Add extra monthly payments to see how they accelerate your timeline and save you money.
Snowball vs Avalanche
Two proven strategies for paying off multiple debts:
- Avalanche — pay off the highest-interest debt first. This mathematically minimizes total interest paid, saving you the most money overall.
- Snowball — pay off the smallest balance first. Each debt you eliminate frees up its minimum payment for the next one, creating "quick wins" that keep you motivated.
Both strategies pay minimums on all debts and direct any extra money toward the target debt. The calculator shows you a side-by-side comparison so you can choose the approach that works best for your situation.
Features
- Add unlimited debts with custom names, balances, rates, and minimums
- Side-by-side snowball vs avalanche comparison
- Extra monthly payment impact analysis
- Donut chart showing principal vs interest breakdown
- Full month-by-month or yearly payoff schedule
- Visual timeline showing when each individual debt is paid off
- Starts with sample debts so you can see how it works immediately
Privacy
Everything runs in your browser. Your debt information is never sent to any server, stored in any database, or shared with anyone. Close the tab and it's gone.