Debt Payoff Planner

$

On top of every minimum. The debts themselves are in the inspector.

Add each month
Payoff plan ready

Estimated time until debt-free

8 years

A $875.00 monthly commitment pays down $49,800.00 across 3 balances.

Minimum payments + $150.00 extra · avalanche priority

Remaining debt

The balance falls faster as each cleared minimum payment rolls into the next priority debt.

Total interest

$8,488.29

Across all balances

Interest avoided

$3,144.87

31 months saved by extra payments

Monthly commitment

$875.00

Minimums plus extra payment

Payoff schedule

The order the plan clears your balances in, with the month each one is gone under both strategies — the comparison the snowball-or-avalanche question actually turns on.

Payoff schedule — 3 balances · $8,488.29 interest under avalanche, $8,488.29 under snowball
DebtAPRBalancestartingMinimummonthlyInterestpaid in fullAvalancheclearedSnowballcleared
Credit card19.99%$4,500.00$125.00$798.10Month 20Month 20
Auto loan5.4%$16,800.00$320.00$2,014.55Month 47Month 47
Student loan4.2%$28,500.00$280.00$5,675.63Month 96Month 96

3 balances · $8,488.29 interest under avalanche, $8,488.29 under snowball

Starting debt

$49,800.00

First target

Credit card

Clears in month 20

Priority order

Credit card → Auto loan → Student loan

snowball payoff

8 years

$8,488.29 interest

Finance

Back to the tool

Debt Payoff Planner

Put several debts on one monthly plan and compare avalanche with snowball repayment. See the estimated debt-free date, total interest, payoff order, balance curve, and the effect of rolling each freed minimum payment into the next debt.

Payoff strategies
2
Simulation safeguard
100 yrs
Interest model
Monthly
Freed payments
Rolled

Step by step

How to use it

  1. 01

    01List every debt

    Enter each current balance, APR, and required minimum payment.

  2. 02

    02Add your extra monthly amount

    This is cash available above all minimums and is focused on one target at a time.

  3. 03

    03Compare avalanche and snowball

    Avalanche targets the highest APR; snowball targets the smallest balance.

  4. 04

    04Check warnings and timing

    A minimum that cannot cover monthly interest may never reduce principal, so fix that before trusting a date.

Worked example

Where an extra $150 goes first

Given

Card
$4,500 at 19.99%
Auto loan
$16,800 at 5.4%
Student loan
$28,500 at 4.2%

Avalanche order

1. pay every minimum
2. send extra $150 to credit card
3. after card payoff, roll its payment forward
4. target auto loan, then student loan
First target
Credit card
Reason
Highest APR
Payment behavior
Roll forward

Avalanche usually minimizes interest; snowball may deliver faster account closures. The best plan is the one you can fund consistently without missing minimums.

Why this one

The payment order changes the cost

Minimums come before strategy

Both methods keep every account current, then direct only the extra cash to the selected target.

Avalanche minimizes expensive time

Targeting the highest APR first reduces the balance charging the most interest each month.

Snowball creates earlier closures

Targeting the smallest balance can simplify the list sooner and provide visible milestones.

Freed payments must keep working

The acceleration comes from rolling a paid-off debt’s minimum into the next target instead of reclaiming it for spending.

The judgement call

Avalanche or snowball?

  • Lowest projected interest is the priority

    Avalanche

    It attacks the highest rate first.

  • Quick account closures improve follow-through

    Snowball

    It attacks the smallest balance first.

  • A promotional rate expires soon

    Model the future rate

    A static APR can mis-rank a debt whose cost is about to change.

  • Minimum payment is below monthly interest

    Raise the payment

    The balance otherwise grows instead of amortizing.

Reference

The numbers behind it

Monthly interest
Balance × APR / 12
Avalanche priority
Highest APR first
Snowball priority
Smallest balance first
Simulation
Rates and payments held constant

FAQ

Questions, answered plainly

What is the debt avalanche method?

Pay every minimum, then direct all extra money to the debt with the highest APR. When it is paid, roll that payment into the next-highest rate.

What is the debt snowball method?

Pay every minimum, then focus extra money on the smallest balance. The aim is to close accounts quickly and build momentum.

Which method saves more interest?

With fixed rates and the same total monthly payment, avalanche generally saves more because it removes high-rate balances sooner.

Why does the calculator show a payoff warning?

If a payment does not cover accruing interest, the debt cannot shrink under the entered assumptions.

Does the estimate include changing minimums or fees?

No. It uses the balances, APRs, minimums, and extra payment entered. Penalties, variable rates, new charges, and lender rules can change the result.

Debt balances and repayment assumptions stay in your browser. The projection does not replace lender statements or individualized financial advice.

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