Use our advanced debt payoff calculator to create a personalized plan that saves you thousands in interest payments.
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Enter your debt information on the left to see your personalized payoff plan.
• Compare avalanche vs snowball strategies
• See total interest savings
• View detailed monthly breakdown
Our debt payoff calculator is designed to be simple and intuitive. Follow these easy steps to create your personalized debt elimination plan and see exactly how much money and time you can save.
Start by adding each of your credit cards or debts. For each debt, enter the current balance, annual percentage rate (APR), and minimum monthly payment. You can add multiple debts using the “Add Another Debt” button.
Tip: You can find this information on your credit card statements or online account.
Select between the Debt Avalanche method (paying highest interest first) orDebt Snowball method (paying smallest balance first). Each strategy has different benefits for different personality types and financial goals.
If you can afford to pay more than the minimum payments, enter an additional amount. Even small extra payments can save you hundreds or thousands in interest and significantly reduce your payoff time.
Example: Adding just $50 extra per month can save you over $1,000 in interest on a $5,000 balance.
Click “Calculate Payoff Plan” to see your complete debt elimination strategy. You’ll get a detailed breakdown including your payoff date, total interest savings, monthly payment schedule, and visual charts showing your progress.
When it comes to paying off multiple credit cards, choosing the right strategy can save you thousands of dollars. Our calculator supports both the Debt Avalanche and Debt Snowball methods, each with distinct advantages for different personality types and financial situations.
How it works: Pay minimum amounts on all debts, then put every extra dollar toward the debt with the highest interest rate first.
How it works: Pay minimum amounts on all debts, then put every extra dollar toward the debt with the smallest balance first.
Try both strategies with your actual debt numbers using our calculator above. You’ll see exactly how much money and time each method will save you, helping you make the best decision for your situation.
Beyond choosing between avalanche and snowball methods, these additional strategies can dramatically accelerate your journey to becoming debt-free.
Even an extra $25-50 per month can save hundreds in interest. Use our calculator to see how different extra payment amounts impact your payoff timeline.
Example: On a $5,000 balance at 19% APR, adding $50/month saves $1,200 in interest.
Tax refunds, bonuses, gifts, and side income should go straight to your highest-interest debt. These lump sum payments create massive acceleration in your payoff plan.
Cancel subscriptions, eat out less, and find temporary savings. Even 3-6 months of aggressive cost-cutting can shave years off your debt payoff.
0% APR promotional periods can save thousands in interest, but only if you have discipline to pay off the balance before the promotion ends.
Warning: This strategy requires excellent credit and strong willpower.
Side hustles, freelancing, or selling unused items can generate extra payments. Direct all additional income to debt elimination for maximum impact.
The most successful debt elimination plans combine multiple strategies. Use our calculator to model different scenarios and find the approach that works best for your budget and lifestyle.
Our debt payoff calculator is designed to be comprehensive, but every financial situation is unique. For personalized advice, consider consulting with a qualified financial advisor or credit counselor.