Debt Payoff Calculator
Free debt payoff calculator. Compare avalanche vs snowball methods. See total interest, payoff time, and savings from extra payments.
Your Debts
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4.5 years
54 months
$5,922
$0
vs minimum payments
0.0 years
0 months
Debt Summary
Total Debt
$48,000
Monthly Payment
$1,390
Total Cost
$53,922
Payoff Order
1Credit Card 1Month 9 (0.8 years)
2Credit Card 2Month 14 (1.2 years)
3Car LoanMonth 28 (2.3 years)
Payoff Strategies
Avalanche Method: Pay off debts with highest interest rates first. Mathematically optimal - saves the most money in interest.
Snowball Method: Pay off smallest balances first. Builds momentum with quick wins for motivation.
Debt Payoff Tips
- Always pay at least the minimum on all debts
- Consider balance transfer cards for high-interest debt
- Build a small emergency fund to avoid new debt
- Celebrate milestones to stay motivated
- Avoid taking on new debt while paying off existing debt
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